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CSX largely unfazed by Nov 28 event

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The CSX index has fallen 15.31 per cent from December 31’s close at 761.73 points and 25.83 per cent from its all-time high of 869.69 – attained on October 9, 2019. Hean Rangsey

CSX largely unfazed by Nov 28 event

The Cambodia Securities Exchange (CSX) has seen minimal slowdown in stock trading and marginal changes in share prices in light of the Kingdom’s first local transmission on November 28, its vice-chairman Ha Jong-weon said on December 2.

The CSX index closed at 647.73 points last week, then dipped 0.27 per cent on November 30 and then inched down an additional 0.26 per cent on December 1 to end at 644.30. It rebounded 0.12 per cent to close December 2 at 645.06.

Ha said the announcement of the local transmission had no bearing on the index, noting that it was too soon for investors to assess the adverse effects it would have of listed firms’ operations.

“Yet, as some stocks’ prices have fallen low, under market value, investors should consider taking advantage of this to make a profit, given trading can be done online conveniently and free from [the risk of] viral infection,” he said.

He praised Cambodia’s success in controlling the spread of Covid-19 over the past year and voiced his confidence that it would continue to do so.

While fresh concerns gripped the Kingdom following the news, he said the situation “seems to be manageable, as only 17 people have been found to be positive so far out of the nearly 5,000 tested, and the government has taken very effective and prompt action.”

The CSX index has fallen 15.31 per cent from December 31’s close at 761.73 points and 25.83 per cent from its all-time high of 869.69 – attained on October 9, 2019.

There are currently 13 listed companies – seven stock-listed and six corporate bond-listed – in the Kingdom that have raised a combined $253 million, CSX data show.

In the first nine months of this year, two companies listed stocks and three listed bonds. The five firms have raised a combined $92 million, the data show.

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