While the Hang Seng Index (HSI) retraced from August 21 after three consecutive weeks of decline, the following weekly price closed lower than the opening of 18,519.08 Hong Kong dollars (HKD), with this week’s trend also downward. Also known as the Hong Kong 50 (HK50), the HSI is made up of the 50 largest Chinese companies listed on the Hong Kong stock market, including the China Petroleum & Chemical Corporation (Sinopec), the Bank of China, PetroChina and Alibaba. PP Link Securities (PPLS) business manager Long Samnang said the HSI has been in a downtrend since August 18, 2023, when Chinese…
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The price of gold – after dropping to reach the support level of $1,884.84 per ounce on August 17 and August 19 – started to rebound, trading above $1,900 in a bullish structure to retest the previous month’s high of $1,987.30. This follows US Federal Reserve Chair Jerome Powell’s speech on August 25 at Jackson Hole. Powell “signalled that the central bank could hold [interest] rates steady at its next policy meeting in September, but left the door open to lifting them later this year if the economy doesn’t slow more,” the Wall Street Journal reported on August 25. But…
ABC Reserve, the first and only fine whisky-infused beer in Cambodia, is proud to announce the introduction of a new 330ml tall can format, further solidifying its position as a leader in the Cambodian beer market. ABC Reserve, an exciting non-stout offering a unique blend of premium barley malt and fine whisky, has been a game changer since its launch in October 2022. The introduction of the tall can format is a strategic move to cater to the evolving preferences of modern consumers and to expand its market reach. “The introduction of the tall can format is an exciting milestone…
The benefits of studying abroad are well known. While gaining an internationally recognised qualification, students who study abroad develop language skills, grow in independence and acquire a new, much broader perspective. Naturally, caring parents want to be sure their child will receive the best possible support to ensure their experience is a positive one. Leav Vanvatey – who is now in the second year of her Bachelor of Business degree at the University of Technology Sydney (UTS) – tells of how she transitioned from her home in Cambodia to study in Australia. After completing her studies at Western International School…
The US dollar-Japanese yen (USD/JPY) currency pair has entered a corrective phase following its high of 146.54 yen on the morning of August 17 and fall to 144.93 in the early hours of August 19. However, with a climb towards the night of August 21, it recovered to the 146-yen level, suggesting it has entered a new upward phase from the low of August 19. Based on the August 17 peak as a reference, the formation of a near-term high is expected until the morning of August 24. Should the stock market drop before the speech by US Federal Reserve…
The King’s School, Vattanacville – a partner school to The King’s School, Canterbury – opened to children aged three to eight (Pre-Prep and Prep) on August 16, 2023 at its stunning City Campus, the Vattanac Capital lifestyle cube. The King’s School, Canterbury – Europe’s oldest public school dating from 597AD – started as a medieval cathedral school founded by Augustine of Canterbury, considered the “Apostle to the English” and a founder of the English Church. When the Dissolution of the Monasteries took place, the school in the English county of Kent, was re-founded by royal charter in 1541 as The…
Jica project with Water Supply Authority just one benefiting people of Cambodia. Siem Reap province features the Angkor Wat World Heritage site – one of the world’s greatest tourist attractions – and to fully seize the opportunities available in tourism development, a stable water supply is crucial. The Siem Reap province water supply cooperation began as the result of a request in 1993 from the Cambodian government to that of Japan to conduct a study on the “Integrated Plan for Angkor and Siem Reap Region”. Based on the plan, Japan supported the conducting of a feasibility study and committed a…
Gold is to continue its recent fall, with the price looking set to break the June low of $1,893.12 per ounce. After reaching around $2,081 per ounce in May, the haven asset has been weakening gradually, with US sales growth data for July the latest factor sapping its strength. Although the Empire State Manufacturing Index dropped below zero – normally seen as bearish for the dollar – the Core Retail Sales and Retail Sales figures caused the greenback to soar. Released late on Tuesday Cambodian time, July data revealed that Core Retail Sales increased to 1.0 per cent, 0.8 higher…
The Hang Seng Index (HSI), based on daily charts, began to drop after reaching a high of 20,322.2 Hong Kong dollars on July 31, before opening on Wednesday with a price of 19,001.9. Also known as the Hong Kong 50 (HK50), the HSI is made up of the 50 largest Chinese companies listed on the Hong Kong stock market, including the China Petroleum & Chemical Corporation (Sinopec), the Bank of China, PetroChina and Alibaba. In the daily charts, there was sideways movement between 20,800 to 18,000 since a high of 20,306.5 on August 1, and as of Wednesday, there were…
The price of gold was resilient following the latest US Federal Fund Rate rise of a quarter point to 5.5 per cent, moving towards $2,000 per ounce. Gold traded between $1,965 and $1,987 in July, with a range of $1,893 to $1,983 in June. The sideways movement started in late May, indicating that a US interest rate hike would not do much to weaken gold and curb its bullish trend. However, the daily price of gold began the new month of August with pressure from the US treasury yield and dollar index edging higher. According to Investing.com, the US dollar…