2014-11-06

Daily Report
Report
Daily
|
NEWS & ANALYSIS

6 November 2014

2014.11.06

WORLD INDICES

Performance
Index

Last

Country

MSE - Top20
DJIA
S&P 500
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
Bloomberg/asia.pac

Change %
(Day)

15,499.17
17,383.84
2,012.10
4,623.64
14,390.43
6,453.97
5,482.50
23,744.17
175.70

MN
US
US
US
CN
UK
US
HK
ASIA

YTD change %

0.65
0.10
-0.28
-0.33
-1.01
-0.52
-0.68
-0.43
-0.49

-5.53
4.87
8.86
10.70
5.64
-4.37
2.43
1.88
4.50

COMMODITY PRICES

Performance

Last
USD

Commodity
Prime Coking Coal /Tianjin
Zinc Spot /LME
Iron Ore 58%/Tianjin
Copper Spot /LME
Oil
Gold Spot /LME
Silver Spot /LME

Change %
(Day)

YTD change %

140.72
2,250.25

0.00
-2.51

-26.50
9.61

6,711.00
77.34
1,167.62
15.99

-1.01
0.19
-0.07
-0.29

-9.01
-21.42
-2.83
-17.90

MONGOLIAN ECONOMIC INDICATORS

Indicator
RGDP /bln. MNT/
NGDP /bln.MNT/
Inflation
Foreign reserve /mln. USD/
Policy rate

Date

Last

2014.07
2014.07
2014.07
2014.06
July 31 ,2014

9,857
6,635
1,317.5
12.00

Last

Yield

YoY change
%
5.3
14.6
14.9
-57.6

DEBT MARKET

Amt.
issued mln
USD
DBM bond - 5.75
580
MMC bond - 8.875
600
Mongol 2018 - 4.125
500
Mongol 2022 - 5.125
1,000
TDBM 2015 - 8.5
300
TDBM 2015 - 12.5
25
TDBM 2017 - 10 dim sum
115
DBM bond - 1.52 sam.
290
Bonds - Coupon

97.88
73.00
95.46
90.05
99.52
97.25
98.09
103.59

Maturity date

6.730
24.444
5.527
6.651
9.064
15.205
10.757
1.098

3/21/2017
3/29/2017
1/5/2018
12/5/2022
9/20/2015
11/17/2015
1/21/2017
12/25/2023

INDICES CHANGE

Nikkei 225

3.23

-0.27

DAX-0.92
Hang Seng

1.88

-0.43

2.43

-0.68

FTSE 100

-4.37

-0.52

S&P/TSX comp -1.01

5.64

-0.33

Nasdaq

Mongolia and Japan to cooperate in energy sector

Mongolia and Japan are to cooperate in the energy sector. Mongolia plans to introduce the Japanese
technology in enhancement of the energy system of southern Gobi and to build the Oyu Tolgoi
Tsagaan Suvarga electric line. The high-efficiency electric wires manufactured by Hitachi will be
introduced within the framework of the Mongolia-Japan Initiative on Carbon-less Development which
was inked past year. The matter was considered at the Energy sector conference which was held
under the theme of "Cooperation toward improving energy performance".
http://vom.mn/d/7025
GLOBAL NEWS
Japan Stocks Advance With Oil as Dollar Holds Yen Gains
Japanese stocks extended their rally into a sixth day as the dollar held near a seven-year high versus
the yen amid signs of strength in the U.S. economy. Oil climbed as gold traded close to its lowest
level since 2010. The Topix index added 0.1 percent by 9:58 a.m. in Tokyo, holding its highest level
since June 2008, while the MSCI Asia Pacific Index dropped 0.1 percent. The greenback was steady
at 114.60 yen after climbing to the strongest since November 2007. The dollar extended gains versus
the Korean won and Australias currency. Futures on the Standard & Poors 500 Index fell 0.1 percent
after the gauge rose to a record in the U.S. Oil in New York extended yesterdays 1.9 percent jump,
while gold was at $1,143.18 an ounce following a 2.4 percent slide last session. The European
Central Bank meets today for the first time since the Bank of Japan boosted its record stimulus. The
value of Japanese stocks has jumped by $113 billion since Oct. 31, when policy makers unexpectedly
expanded the monetary-base target and the nations pension fund lifted its equity allocations. In the
U.S., where the Federal Reserve is already pondering higher borrowing costs after ending its bond
buying program last month, private payrolls data yesterday rose more than estimated, with the
government jobs report due tomorrow.
http://www.bloomberg.com/news/2014-11-05/dollar-holds-surge-with-s-p-500-at-record-cruderebounds.html

10.70
0.10

DJIA
MSE - Top20

4.87
0.65

-5.53

Change % (Day)

Volume
YTD %

MSE TOP 5 MOST TRADED

Trade value '000

TTL

Mongolian Premier Altankhuyag Ousted in No-Confidence Vote

Mongolian Prime Minister Altankhuyag Norov lost a no-confidence vote over his handling of the
economy and will step down along with the rest of his cabinet. Thirty-six lawmakers in the 76-seat
Great Hural voted for the motion yesterday, with 30 against. Deputy Prime Minister Terbishdagva
Dendev will serve as acting prime minister until the ruling Democratic Party can find a replacement.
Altankhuyag has faced mounting pressure from the public and lawmakers in both parties as
economic growth slumped from a world-beating 17.5 percent in 2011. Foreign investment has
plummeted amid a protracted dispute between the government and Rio Tinto (RIO) Group over the
financing for an expansion of the Oyu Tolgoi copper and gold mine. During Altankhuyags tenure the
economic situation has significantly worsened, but to say that this is a uniquely Mongolian problem
would be untrue. said Chris MacDougall, managing director of Mongolia Investment Banking Group
LLC. Like many resource economies, Mongolia has suffered due to an array of underlying issues -not the least of which has included decreasing commodities prices and a sell off of frontier market
exposure by international investors. Growth slipped to an annualized 5.3 percent in the first half of
this year from 11.7 percent last year. Foreign investment fell to $647.5 million in the nine months
through September from $3.82 billion in the same period in 2012. The World Bank last month cut
Mongolias growth forecast for this year to 6.3 percent from the 9.5 percent projected in July.
http://www.bloomberg.com/news/2014-11-05/mongolian-premier-altankhuyag-ousted-in-noconfidence-vote.html

Thousands

S&P/ASX 200

-4.04

MONGOLIAN RELATED NEWS

Mongolian Entrepreneurs' Forum 2014 to be held in UB
Mongolian Entrepreneurs' Forum 2014 will be organized in Ulaanbaatar, on November 10 and 11th.
The School of Business of National University of Mongolia is organizing the event in collaboration
with the Ministry of Labor, Startup Mongolia NGO, and with support from the Mongolian National
Chamber of Commerce and Industry, United Association of Mongolian Employers NGO, and JCI
Mongolia. The forum is expected to be a platform for promoting knowledge about entrepreneurship, to
take entrepreneurship education (courses and research) to a new level, improve the legal
environment for new businesses, build a national strategy to develop entrepreneurship, to link
organizations in the field, and to seek ways to solve challenges for Mongolian entrepreneurs.
http://english.news.mn/content/194208.shtml

MSETOP Index

16,000

20,000

14,000

18,000
16,000

12,000

14,000

10,000

12,000

8,000

10,000

6,000

8,000

188

JTB

6,000

4,000

-8.35%

260

4,000

2,000

0%

10%

June-14

May-14

April-14

March-14

January-14

October-13

August-13

July-13

June-13

February-14

-10%

December-13

-20%

May-13

0.00%
1,000

November-13

500

September-13

April-13

612

0
March-13

ATR

2,000

0
January-13

4.94%

518

February-13

MMX

6 November 2014

MONGOLIAN RELATED COMPANIES

Name

Sym

Currency

30 day graphic

Last

Chg day %

YTD %

Trade value 000 Market cap mln

52w high
USD
USD/

52w low

Currency
cross

Turquoise Hill

TRQ US Equity

USD

3.260

-3.83

-1.21

6,596.5

6,560.09

4.36

3.01

1.00

Centerra Gold

CG CN Equity

CAD

4.570

-6.73

5.79

5,796.0

947.34

6.90

2.82

1.14

MMC

975 HK Equity

HKD

0.750

0.00

-27.18

9.4

358.46

1.43

0.48

7.75

Denison Mines Corp

DML CN Equity

CAD

1.040

-0.95

-19.38

778.1

461.21

1.95

1.02

1.14

Winsway Coking Coal Holdings Ltd

1733 HK Equity

HKD

0.350

0.00

-28.57

52.1

170.36

0.59

0.31

7.75

276 HK Equity

HKD

0.171

-3.39

-29.63

1.6

149.04

0.29

0.15

7.75

MoEnCo
SouthGobi Resources

1878 HK Equity

HKD

4.100

0.00

-40.41

40.1

99.08

9.46

3.88

7.75

CAML LN Equity

GBp

159.000

-1.24

12.77

51,737.6

283.32

190.00

134.75

0.62

402 HK Equity

HKD

0.305

-1.61

5.17

31.5

263.68

0.39

0.16

7.75

YAK CN Equity

CAD

1.750

8.02

-22.91

193.9

53.48

3.07

1.40

1.14

61 HK Equity

HKD

0.140

0.00

-23.08

28.0

73.15

0.21

0.10

7.75

Guildford Coal Ltd

GUF AU Equity

AUD

0.040

-2.44

-51.73

16.4

29.55

0.11

0.04

1.14

Origo Partners PLC

OPP LN Equity

GBp

7.375

0.00

0.00

944.3

42.10

9.13

6.63

0.62

Entree Gold Inc

ETG CN Equity

CAD

0.240

2.13

-22.58

28.9

30.93

0.52

0.22

1.14

Aspire Mining Ltd

AKM AU Equity

AUD

0.050

8.70

-10.71

#VALUE!

30.74

0.08

0.03

1.14

Prophecy Coal Corp

PCY CN Equity

CAD

0.065

0.00

-18.75

19.3

14.36

0.11

0.04

1.14

FeOre Ltd

FEO AU Equity

AUD

0.025

0.00

-39.02

0.6

11.56

0.08

0.03

1.14

MATD LN Equity

GBp

3.000

0.00

-20.00

0.0

13.42

11.50

2.00

0.62

Xanadu Mines Ltd

XAM AU Equity

AUD

0.100

0.00

100.00

0.0

21.11

0.18

0.03

1.14

Haranga Resources Ltd

HAR AU Equity

AUD

0.021

0.00

-66.13

3.7

4.44

0.09

0.01

1.14

Central Asia Metals PLC

Mongolia Investment Group Ltd
Mongolia Growth Group
North Asia Resources Holdings Ltd

Petro Matad Ltd

Wolf Petroleum Ltd

WOF AU Equity

AUD

0.049

-2.00

-30.00

2.1

12.60

0.09

0.03

1.14

MNAP US Equity

USD

0.089

-6.32

29.93

9.9

15.36

0.17

0.04

1.00

KRI CN Equity

CAD

0.385

0.00

35.09

9.1

23.00

0.45

0.18

1.14

Voyager Resources Ltd

VOR AU Equity

AUD

0.002

0.00

-50.00

0.8

3.06

0.01

0.00

1.14

East Asia Minerals Corp

EAS CN Equity

CAD

0.015

0.00

-62.50

0.6

1.45

0.11

0.02

1.14

Erdene Resource Development Corp

ERD CN Equity

CAD

0.130

-3.70

-7.14

4.9

8.73

0.26

0.08

1.14

Modun Resources Ltd

MOU AU Equity

AUD

0.002

0.00

-50.00

0.1

3.10

0.01

0.00

1.14

Kincora Copper Ltd

KCC CN Equity

CAD

0.030

-25.00

20.00

3.5

8.15

0.09

0.02

1.14

General Mining Corp Ltd

GMM AU Equity

AUD

0.008

0.00

-52.94

0.7

0.94

0.02

0.01

1.14

Draig Resources Ltd

DRG AU Equity

AUD

0.011

-8.33

-68.57

6.0

0.64

0.04

0.01

1.14

Newera Resouces Ltd

NRU AU Equity

AUD

0.002

0.00

-66.67

0.9

2.06

0.01

0.00

1.14

BDI AU Equity

AUD

0.001

0.00

0.00

3.0

1.30

0.00

0.00

1.14

Manas Petroleum Corp

Khan Resources Inc.

Blina Minerals NL

Source: Bloomberg
MONGOLIAN STOCK MARKET
5 November 2014

JSC's

TOP20 index

was

15,499.17

3,350

shares

worth

Change day

4.10

mln

MNT

0.65%

YTD

-5.53%

have

Company name

Trade volume

Trade value
'000

Last

Chg day

Chg day %

Buy
volume

Buy price

Sell price

Sell volume

MIE

99

1,643

16600

149

4.20%

100

3550

3700

18

NEH

47

823

17520

-500

-12.20%

34

3600

4100

17

ATR

612

68000

0.00%

MMX

140

518

3701

89

4.94%

10

1600

1889

496

JTB

3,000

260

86.5

-9

-8.35%

5000

90

110

650

TTL

40

188

4700

-45

-13.64%

300

20

APU

15

57

3800

-52

-1.39%

733

3700

3800

838

been

traded.

6 November 2014

Investment Banking Division of Golomt Bank

The principal activities of Investment Banking Division constitute structuring, sourcing, negotiating and closing debt and equity
financings as well as the provision of incisive advisory services for private and public companies as well as institutions, public sector
agencies and authorities.
1
Our vision is to fuel the profitable
growth of our valued clients by providing the highest-quality investment banking services, and in so
doing create an environment which will lead to long term, mutually beneficial relationships. We strive to achieve these lasting
relationships by matching each client assignment with the collaborative expertise of the Banks team of seasoned banking and
investment professionals.
Contact
Sukhbaatar Square, Ulaanbaatar 210620A, Mongolia
Fax: +976-70117676 /1402/
E-mail: ibd@golomtbank.com
Website: www.golomtbank.com

Diclaimer
2013.06
2702.1
This
document has
been prepared by the investment banking division of Golomt Bank for information purpose only. The views
2013.06are the
7591
expressed
views of the analyst and are subject to change based on market and other conditions and factors. The
information provided does not constitute investment advice or other recommendations and should not be relied on as such. It
should
not be considered a solicitation to buy or an offer to sell a security or to pursue any trading or investment strategy. All
13606.65
material, including information sourced from or attributed to Golomt Bank, has been obtained from sources believed to be
reliable, but its accuracy is not guaranteed. Past performance is no guarantee for future results. Accordingly you must
3800 for you of the securities/transactions before investing
independently determine, with your own advisors, the appropriateness
or transacting.