Logo of Phnom Penh Post newspaper Phnom Penh Post - CSX sees strong performance, recovery in second quarter

CSX sees strong performance, recovery in second quarter

CSX sees strong performance, recovery in second quarter

The Cambodia Securities Exchange (CSX) announced that the market performed well in the second quarter with an index increase of 18 per cent – from 590.63 in Q1 to 695.99 in Q2.

Its Investors and Investing Bulletin released last week said the market cap was $2.507 billion ending Q2 while trading volume was 3,706,945 shares. That was up 561 per cent while the trading value was around $16.20 million, a sharp increase of 1,600 per cent.

Acleda Bank Plc (ABC) accounted for 80.88 per cent of the trading volume followed by Phnom Penh Water Supply Authority (PWSA) at 6.6 per cent, Phnom Penh Special Economic Zone Plc (PPSP) at 5.47 per cent and Sihanoukville Autonomous Port (PAS) at 2.86 per cent.

The Phnom Penh Autonomous Port (PPAP) accounted for 2.25 per cent, and Grand Twins International (Cambodia) Plc (GTI) was 1.94 per cent.

CSX vice-chairman Ha Jong-weon told The Post on Sunday that the CSX index fell to its lowest level in late March, possibly due to Covid-19 fears.

“Despite the coronavirus, our market performed well in Q2. The index started to go up at the beginning of Q2 as the market recovered.

“More importantly, we managed to list the largest domestic commercial bank, ABC, in late May which led to the high increase in trading activities. Since it joined the bourse, it has become the most active stock in the market,” he said.

However, Ha said he expects the index will continue to decline slightly in the upcoming quarter.

“The index is showing a downward trend in Q3 because the price of the largest-market-cap-stock, ABC, had fallen and stabilised in the last four weeks.”

CSX has so far listed 13 companies, seven are listed as stocks and six as corporate bonds.

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