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FINANCE Thursday 5th May

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PHNOM PENH:​ The CSX Index is currently at 504.11 Points down 19.42 Points or 3.71%

 The Daily Exchange Rate: is 4,050KHR to the USD$

CAMBODIA'S EXPORT TO RCEP MEMBER COUNTRIES INCREASES BY 11% IN FIRST QUARTER RELEASE DATE MAY 04, 2022.

Cambodia's exports to the member countries of the Regional Comprehensive Economic Partnership (RCEP) totaled US $ 1,956 million in the first three months of this year, up 11 % over the same period last year, according to data from the Ministry of Commerce.

For the January-March period, Cambodia's top four export destinations were Vietnam, China, Thailand, and Japan, the data shows, adding that the Kingdom shipped US $ 759 million worth of products to Vietnam, US $ 322 million to China, US $ 318 million to Thailand, and US $ 306 million to Japan.

The two-way trade between Cambodia and RCEP member countries was amounted to US $ 8,062 million, inching down 2 percent over the same period last year, read the data.

Regionally, Cambodia exported US $ 1,172 million worth of goods to ASEAN member states, a year-on-year increase of 12 percent.

ASIAN SHARES FIRM AS FED TEMPERS AGGRESSIVE RATE HIKE BETS.

Asian shares tracked Wall Street gains on Thursday after the U.S. central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared, lifting investor sentiment and sending the dollar lower.

Crude prices, meanwhile, shot up as the European Union spelled out some of the details of its plan to ban the use of Russian oil, heightening concerns about supply.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.93%, although trading was thin with Japanese and Korean markets closed for public holidays.

Asia's gains followed a U.S. rally overnight where the Dow Jones Industrial Average (.DJI) rose 2.81%, the S&P 500 (.SPX) gained 2.99% and the Nasdaq (.IXIC) advanced 3.19%.

Hong Kong's benchmark Hang Seng Index rose 0.77% in early trading, with the tech sector index adding 1.43%.

This week, Hong Kong stocks have edged lower while the offshore Chinese yuan has been volatile though still stronger than it was last week.

Australia's S&P/ASX 200 also performed strongly with a 0.61% increase.

However, China's benchmark CSI300 opened 0.16% lower as mainland markets resumed trade after a three-day holiday.

WALL STREET CLOSES WITH SHARP GAINS AFTER FED'S INTEREST RATE HIKE.

U.S. stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&P 500 recorded its biggest one-day percentage gain in nearly two years.

Stocks initially see-sawed after the announcement, then the indexes strengthened. The S&P 500's advance of almost 3% was the strongest since May 18, 2020.

The U.S. central bank set its target federal funds rate to a range between 0.75% and 1% in a unanimous decision, with further rises in borrowing costs of perhaps similar magnitude likely to follow.

The Dow Jones Industrial Average (.DJI) rose 932.27 points, or 2.81%, to 34,061.06, the S&P 500 (.SPX) gained 124.69 points, or 2.99%, to 4,300.17 and the Nasdaq Composite (.IXIC) added 401.10 points, or 3.19%, to 12,964.86.

All 11 of the major S&P sectors rose, with energy (.SPNY) leading the gains.



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