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Rosy outlook for Kingdom’s securities sector this year

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Daily average trading value last year stood at $157,045 – up 487.76 per cent compared to 2018’s $26,719. HENG CHIVOAN

Rosy outlook for Kingdom’s securities sector this year

The Kingdom’s securities sector boomed last year, with a daily average trading value of $157,045 – up 487.76 per cent compared to 2018’s $26,719, a Cambodia Securities Exchange (CSX) report said.

The daily average trading value in previous years stood at $13,149 in 2017, $10,398 in 2016, $7,837 in 2015, $13,159 in 2014 and $15,162 in 2013.

Speaking at a press conference on Cambodia’s securities industry outlook on Tuesday, CSX CEO Hong Sok Hour said last year’s growth rate was the sector’s highest and broke numerous records in trading prices and activity.

He said all of these contributed to the increased daily average trading value, “however, compared to other countries, the number is small”.

As of last year’s end, listed firms had raised a combined $161.47 million through the CSX, the report said.

“The CSX is evolving and becoming an important player in Cambodia’s national economy,” he said.

The report cited 2019’s other record-breaking statistics, such as the 870.65 points reached by the bourse’s index on October 1, and an $802 million market capitalisation.

It also noted May 21’s record-breaking sale of 9,436,267 shares of Sihanoukville Autonomous Port, worth 120,019,494,104 riel ($29.57 million).

Sok Hour said: “This year we expect at least seven more companies to list, four of which will list stocks, and three bonds.”

Launched in 2012, the CSX has seen five companies list on its main board, as well as three financial institutions and banks issue bonds.

Speaking at the press conference, CSX chief operations officer Ha Jong Weon said the stock market’s current momentum began in 2018.

Further driving the bourse last year, he said, were improved access to financial markets for major financial institutions, the development of new technology, the extension of trading hours, strengthened investor confidence, public awareness and increased effort.

We expect to attract more attention to the securities market this year through our various promotional events, including My First Stock 2020, Overseas Seminar 2020, monthly training and more, Ha said.

He said the CSX has been looking into providing several additional products and services including depositary receipts, collective investment schemes, government bonds, off-shore listings, holding companies and exchange-traded funds.

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