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Cambodia opens stock market but no trading in sight

Cambodia opens stock market but no trading in sight
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The long-time communist bastion of Cambodia has officially launched its long-delayed stock exchange.

However there are no companies being traded and officials seemed uncertain about whether there would be that any listed by the end of the year, which is the latest date for the twice-delayed start of operations.

A the opening ceremony Finance Minister Keat Chhon said: “Today is an important historical day for Cambodia’s financial sector and this market is also a new national pride for Cambodia as it moves to the final stage of creation.”

The minister then placed the first dummy order but the computer trading system did not appear to work.

Three state owned companies in charge of water supplies, telecoms and the country’s deep water port are due to be listed.

The trading floor is a joint venture between the Cambodian government and Korea Exchange, the operator of Asia’s fourth-largest bourse in Seoul .

It also helps run the bourse in Laos, another Southeast Asian frontier market. That market opened in January and trades two stocks.