Logo of Phnom Penh Post newspaper Phnom Penh Post - CSX contest winners reveal their stock trading strategies

CSX contest winners reveal their stock trading strategies

Content image - Phnom Penh Post
The champion of the CSX-organised competition – dentist Tieng Chhnoeum – in front of the Eiffel Tower in Paris, France in 2016. TIENG CHHNOEUM VIA FACEBOOK

CSX contest winners reveal their stock trading strategies

The Cambodian Securities Exchange (CSX) on Wednesday organised a seminar to reveal the trading strategy of eight winners of a stock trading competition. The winners received a high return on their investments during the competition.

The contest challenged existing investors to register with minimum start-up capital $100 in stocks listed on the CSX during a period that ran from October 30 last year, to January 18 this year.

Dentist Tieng Chhnoeum – the champion of the competition – received an eight million riel ($2,000) prize in cash.

He increased his portfolio value by a staggering 247 per cent in the three-month competition as his initial balance increased from 400,000 riel in the first day of competition to 1.39 million riel on the last day.

The runner-up was Som Ny, with a portfolio value that increased 94 per cent from 1.28 million riel on the first day to 2.49 million riel on the last day of the competition. The next six winners had a portfolio value increase of at least 85 per cent.

‘Chance to turn a profit’

Tieng Chhnoeum on Wednesday said he put in the capital to buy Grand Twins International (GTI) stock as it was just 3,300 riel per share and later traded other stock when an opportunity arose.

“I bought and sold other stock when I saw there was a chance to turn a profit. It cost me time to look at each stock’s price fluctuations and follow up news on any potential stock to trade, but it is worth it to do so to make the right decision,” he said.

During the competition, GTI’s share price increase 66 per cent from 3,300 riel to 5,500 riel. Sihanoukville Autonomous Port’s (PAS) share price increased 95 per cent, from 6,400 riel on the first day of competition to 12,500 riel on the last day while Phnom Penh Autonomous Port (PPAP) increases from 6,400 riel per share to 11,200 riel per share.

The share prices of Phnom Penh Water Supply Authority and Phnom Penh Special Economic Zone increased 40 per cent and 13 per cent during the competition period.

New growth

CSX chief operating officer Jong Weon-ha on Wednesday said the winners’ success stories – receiving a high return on their investments – reflect the important, potential growth of the Kingdom’s securities market.

“In Cambodia, many people aim to invest in real estate, but the results of the competition are strong evidence showing the potential of investment here, in CSX, to get high returns,” he said.

Weong-ha added that the market performance last year was great, with the CSX market index increasing 70 per cent, rising from 340.22 to 618.40 points.

“This is a positive sign that marks new growth for Cambodia’s stock market to continue to attract more interest from public investors,” he said.

MOST VIEWED

  • Call for boycott of Angkor unacceptable

    Dear Editor, I wish to express my strong disagreement on the article published by Traveller for their website with the title Best places to go in 2020: 12 destinations you should avoid. Below is my opinion of the article. It is obviously free for the Traveller to

  • Probe underway after wreckage of drone with Chinese characters found

    Air Force Command spokesman Prak Sokha said on Sunday that investigations are underway regarding the wreckage of a drone that was recovered in Koh Kong province’s Koh Sdech commune in Kiri Sakor district. The wreckage has been taken to the capital for further examination,

  • Ministry issues warning over coronavirus outbreak

    The Ministry of Health on Wednesday asked the public to be on “high alert” as a new virus wreaks havoc across Asia. However, no cases have been reported in the Kingdom thus far. The 2019 Novel Coronavirus (2019-nCoV) has raised the alarm for its similarity to

  • Gov’t slams UN rapporteurs over Sokha trial statement

    The Ministry of Foreign Affairs and International Cooperation and the Permanent Mission of the Kingdom of Cambodia to the UN Office in Geneva deplored the statement of three UN special rapporteurs who claimed that Kem Sokha’s trial was “tainted” due to irregularities. The reaction

  • No power shortages next dry season, says energy minister

    Minister of Mines and Energy Suy Sem has assured the public that Cambodia will not suffer power shortages during the next dry season. Speaking on local TV on Tuesday, Sem projected a rise in power demand during 2020’s dry season – which starts in November and

  • Gov’t takes steps to lower logistics, transport costs

    With the threat of losing trade privileges in the EU drawing closer, the government is taking measures to reduce logistics and transportation costs to safeguard the Kingdom’s competitiveness. The EU is due to decide whether or not to withdraw the Kingdom’s trade privileges