Cambodia Investment Review
Trading activity on the Cambodia Securities Exchange (CSX) strengthened during the first half of 2026, with average trading value rising nearly 91% year-on-year as dividend distributions, growing retail participation and improvements to the exchange’s trading platform contributed to higher market activity.
According to the Cambodia Securities Exchange, the first six months of the year saw record levels of active investors and trading orders, suggesting improving liquidity despite a challenging global economic backdrop and Cambodia’s relatively small capital market.
Active Investors Reach New High
The exchange reported that the average monthly number of active investors—defined as those who placed at least one buy or sell order—reached 4,902 during the first half of 2026, up 64.4% from 2,982 during the same period in 2025.
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Investor participation gathered momentum throughout the second quarter, with 4,813 active investors recorded in April, 5,012 in May and a record 6,386 in June.
The June figure exceeded the previous record of 4,402 active investors set in June 2022, when market activity was supported by investment announcements involving ACLEDA Bank Plc. and ASA Plc.
Trading activity also reached new highs, with the average number of buy and sell orders climbing to 5,030 per trading day during the first half of the year. In June alone, the exchange recorded an average of 5,410 daily orders, the highest level since the CSX began operations.
Trading Value Posts Strongest Growth Since 2023
Average daily trading value increased to approximately KHR854 million (US$213,000) during the first half of 2026, representing a 90.8% increase from KHR448 million (US$112,000) in the corresponding period last year.
June was the strongest month of the year, with average daily trading value reaching KHR1.213 billion (US$303,000)—the highest monthly level recorded since August 2023.
While trading volumes remain modest compared with larger regional exchanges, the latest figures point to improving market liquidity after a prolonged period of relatively subdued activity.
Dividend Season Helps Drive Activity
The exchange attributed the increase in trading volumes to several factors, including stronger participation during the annual dividend distribution season, positive business performance by listed companies and continued investor interest in Cambodia’s equity market.
The CSX Index rose 7.7% during the first half of 2026, although the exchange noted that many listed shares experienced temporary price declines as they traded ex-dividend following shareholder payouts.
Whether the higher level of trading activity can be sustained beyond the dividend season remains to be seen, but the latest figures indicate retail participation has continued to expand compared with previous years.
More Investors Enter the Market
CSX also credited improvements to its trading ecosystem for making investing more accessible. These include simplified account opening procedures, easier fund deposits and withdrawals, improved access to market information and continued enhancements to the CSX Trade mobile trading application.
The exchange said 5,587 new trading accounts were opened during the first six months of 2026, reflecting continued interest from new investors entering Cambodia’s stock market.
As Cambodia’s capital market continues to develop, market participants will likely be watching whether stronger retail participation is accompanied by greater institutional investment, additional company listings and sustained improvements in trading liquidity over the longer term.
