The CSX at six months
Every day, thousands of people drive past a big electronic billboard showing market data from the Cambodia Securities Exchange (CSX), the first securities market in the Kingdom’s history. While waiting for the traffic light, those Cambodians who are interested can get a glimpse of the activity on the new bourse and whether the stock price of its one listed company, the state-owned Phnom Penh Water Supply Authority (PPWSA), is up or down. Right now, interest in PPWSA shares seems to be decreasing daily and the sup- ply is outstripping demand, which has led to the price falling below the IPO level. …
In the near future, when activity picks up, securities firms will pro- vide software for online trading that should streamline the process further. Phnom Penh Securities is building and testing such software and will launch it in the not-too-distant future , Sok Chamroeun said.
If all goes to plan and more companies list and trading is made easier, the CSX should emerge from the doldrums of the last several months and volumes will rise again. This, in turn, could move new investors like Phan Chankun and others who have been holding onto their stocks to begin placing orders in the young market again. .. .
