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Cambodia: Market Watch
Cambodia Securities Exchange:The index closed at 745.98 points on Friday rising only 0.18 percent, 1.31 points, finishing the week relativity flat compared with the previous week that had record high trading volumes and the index push over 800 points for the first time.
Trading volume was low recording only 900.6 million riel ($225,170) and 58,818 shares exchanged. In comparison trading volume has been at over well over 1 million riels for the past seven trading days (reaching 18 million riels on-one-day) since the much lauded ABC initial public offering.
Insiders are tipping the index to fall back to lower trading volumes next week with the excitement of the first bank to publicly list on the exchange slowly leaving the market.
Currencies:
The Australian Dollar has rebounded to be trading at 70 cents to the US dollar yesterday after falling to record lows of 55 cents in mid-March (representing more than a 25 percent increase in just 11 weeks).
The downturn caused serious concern among many Australian expats who rely on government pensions or Australian sourced income to fund themselves and their families in Cambodia. Businesses who mainly cater to expats have also welcomed the rebound they reported discretionary spending was down with many complaints of the low exchange rate.
The recovery has been pushed by strong iron ore prices exports to China and Brazil, increased Chinese economic activity and the dire political-economic situation in the United States at the moment pushing the greenback lower.
Source: https://www.khmertimeskh.com/50731375/market-watch/