2014-11-10

Daily Report
Report
Daily
|
NEWS & ANALYSIS

10 November 2014

2014.11.10

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)

15,311.52
17,573.93
2,031.92
4,632.53
14,690.83
6,567.24
5,510.60
24,070.67
175.09

MN
US
US
US
CN
UK
US
HK
ASIA

YTD change %

-1.07
0.11
0.03
-0.13
0.88
0.25
-0.69
2.21
0.53

-6.07
6.02
9.93
10.92
7.85
-2.69
2.96
3.28
4.13

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 %

140.63
2,240.75

0.00
0.79

-26.50
9.15

6,790.00
78.87
1,170.42
15.77

0.79
0.28
-0.64
-0.10

-7.94
-19.86
-2.60
-19.00

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

96.49
73.00
94.38
88.16
99.52
97.19
97.58
103.19

Maturity date

7.397
24.509
5.895
6.967
9.073
15.396
10.962
1.143

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
3.17

-0.43

DAX-0.91

-2.73

Hang Seng

S&P/ASX 200 -0.69

2.96

FTSE 100

-2.69

0.25

S&P/TSX comp

Nasdaq

0.88

7.85

-0.13

10.92
0.11

DJIA

GLOBAL NEWS
Asian Stocks Fall Before China CPI as Yen Weighs on Topix
Most Asian stocks fell as the yen strengthened, dragging Japanese shares lower following a threeweek rally, before a report on Chinese inflation. About two shares dropped for each that advanced on
the MSCI Asia Pacific Index (MXAP), which added 0.1 percent to 140.34 as of 9:02 a.m. in Tokyo,
before markets opened in Hong Kong and China. Japans Topix index slid 0.5 percent as the yen
rose 0.1 percent to 114.47 per dollar, extending its 0.5 percent gain on Nov. 7 after a U.S. jobs report
dragged the greenback lower. Data at the weekend showed Chinese exports rose more in October
than economists had estimated, sparking concern over fake invoicing as imports grew slower than
expected. Policymakers have eschewed across-the-board stimulus and interest-rate cuts even as
growth cooled to the weakest pace in more than five years last quarter. The worlds second-biggest

3.28

2.21

MSE - Top20 -1.07

6.02
-6.07

Volume

Change % (Day)

YTD %

Thousands

Nikkei 225

MSE TOP 5 MOST TRADED

Trade value '000

DHU

MONGOLIAN RELATED NEWS

China to establish $40 billion Silk Road infrastructure fund
China will contribute $40 billion to set up a Silk Road infrastructure fund to boost connectivity across
Asia, President Xi Jinping announced on Saturday, the latest Chinese project to spread the largesse
of its own economic growth. China has dangled financial and trade incentives before, mostly to
Central Asia but also to countries in South Asia, backing efforts to resurrect the old Silk Road trading
route that once carried treasures between China and the Mediterranean. The fund will be for investing
in infrastructure, resources and industrial and financial cooperation, among other projects, Xi said,
according to Xinhua. The goal of the fund is to "break the connectivity bottleneck" in Asia, state media
quoted Xi as saying during a meeting in Beijing with leaders from Bangladesh, Cambodia, Laos,
Mongolia, Myanmar, Pakistan and Tajikistan. The Silk Road Fund will be "open" and welcome
investors from Asia and beyond to "actively" take part in the project, Xi was cited as saying, ahead of
a separate summit of the Asia Pacific Economic Cooperation (APEC) grouping, also being held in the
Chinese capital. It was not immediately clear precisely how the fund would work, when it would start
operations or where it would be based, though in all likelihood it would be China. But Xinhua said it
would focus on China's Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative,
which aim to build roads, railways, ports and airports across Central Asia and South Asia. "Such a
framework accommodates the needs of various countries and covers both land and sea-related
projects," Xi said, adding China is ready to welcome its neighbors "to get on board the train of China's
development." One of the ways it has done this is to offer large loans to places like Southeast Asia
and Africa, to show that China is a benign growing power only interested in helping others escape
poverty in the way it has itself over the past three decades. Last month, Xi unveiled the $50 billion
China-backed Asian Infrastructure Investment Bank, seen as a challenge to the World Bank and
Asian Development Bank, both multilateral lenders that count Washington and its allies as their
biggest financial backers. China has sought to allay concerns that its new bank aims to undermine
the World Bank and Asian Development Bank, saying it wants to learn from their experience and that
there are more than enough projects around for all the lenders to fund.
http://www.reuters.com/article/2014/11/08/us-china-diplomacy-idUSKBN0IS0BQ20141108
Mongolia gets support from Xi
President Xi Jinping yesterday voiced support for Mongolia to join the Asia-Pacific Economic
Cooperation during a meeting with Mongolian President Tsakhiagiin Elbegdorj. China welcomes
Mongolias entry into the Asian Infrastructure Investment Bank and backs its joining of APEC, Xi said.
China is also willing to work with Mongolia and Russia to build the economic corridor linking the
countries, he said.
http://www.shanghaidaily.com/national/Mongolia-gets-support-from-Xi/shdaily.shtml
Zhang Dejiang on the 9th met separately with President of Mongolia
Xinhua News Agency, Beijing, November 9 The 9th NPC Standing Committee Chairman Zhang
Dejiang met separately with Mongolian President Elbegdorj and Prime Minister of Canada Stephen
Harper at the Great Hall. Elbegdorj said Mongolia Mongolia cherish the comprehensive strategic
partnership between the State Great Hural of Mongolia NPC is willing to strengthen exchanges with
China to promote bilateral equality and mutual benefit cooperation. In August, the President Xi Jinping
visited Mongolia , together with His Excellency the President decided to enhance Sino-Mongolian
relations to a comprehensive strategic partnership , which marks the bilateral relations have entered a
new historical period of development. Mongolia should further deepen political mutual trust and
understanding , sincerity , mutual respect, and build a strong foundation of bilateral relations ; further
strengthen mutually beneficial economic cooperation , and play to their respective advantages,
expand cooperation platform to achieve common development. Chinese NPC is willing to strengthen
exchanges and cooperation in the State Great Hural of Mongolia , to consolidate the basis of public
opinion , promote the development of bilateral relations .
http://www.enews163.com/2014/11/09/zhang-dejiang-on-the-9th-met-separately-with-president-ofmongolia-and-the-prime-minister-of-canada-93537.html

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

120

SHG

6,000

4,000

-2.21%

231

4,000

2,000

-2%

-1%

0%

June-14

May-14

April-14

March-14

January-14

October-13

August-13

July-13

June-13

February-14

-3%

December-13

300

November-13

200

May-13

-1.75%
100

September-13

April-13

50

0
January-13

NKT

2,000

0
March-13

0.00%

42

February-13

UYN

10 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

3.180

6.71

-3.64

31,867.3

6,399.11

4.36

2.93

1.00

Centerra Gold

CG CN Equity

CAD

5.010

7.05

15.97

7,691.0

1,045.15

6.90

2.82

1.13

MMC

975 HK Equity

HKD

0.720

0.00

-30.10

0.4

344.11

1.43

0.48

7.75

Denison Mines Corp

DML CN Equity

CAD

1.250

20.19

-3.10

9,671.7

557.86

1.95

1.02

1.13

Winsway Coking Coal Holdings Ltd

1733 HK Equity

HKD

0.350

1.45

-28.57

0.0

170.35

0.59

0.31

7.75

276 HK Equity

HKD

0.165

1.23

-32.10

0.7

143.81

0.29

0.15

7.75

MoEnCo
SouthGobi Resources

1878 HK Equity

HKD

4.120

0.00

-40.12

4.9

99.55

9.46

3.88

7.75

CAML LN Equity

GBp

159.000

1.92

12.77

1,907.7

281.16

190.00

134.75

0.63

402 HK Equity

HKD

0.300

0.00

3.45

41.0

259.34

0.38

0.16

7.75

YAK CN Equity

CAD

1.440

-10.56

-36.56

156.8

44.28

3.07

1.40

1.13

61 HK Equity

HKD

0.165

7.14

-9.34

7.4

86.20

0.21

0.10

7.75

Guildford Coal Ltd

GUF AU Equity

AUD

0.038

-2.56

-54.14

25.3

27.80

0.11

0.04

1.16

Origo Partners PLC

OPP LN Equity

GBp

7.375

0.00

0.00

117.1

41.78

9.13

6.63

0.63

Entree Gold Inc

ETG CN Equity

CAD

0.235

4.44

-24.19

15.5

30.48

0.52

0.22

1.13

Aspire Mining Ltd

AKM AU Equity

AUD

0.046

-2.13

-17.86

#VALUE!

28.01

0.08

0.03

1.16

Prophecy Coal Corp

PCY CN Equity

CAD

0.060

-7.69

-25.00

13.3

13.34

0.11

0.04

1.13

FeOre Ltd

FEO AU Equity

AUD

0.025

0.00

-39.02

0.6

11.45

0.08

0.03

1.16

MATD LN Equity

GBp

3.000

0.00

-20.00

0.0

13.32

11.50

2.00

0.63

Xanadu Mines Ltd

XAM AU Equity

AUD

0.095

0.00

90.00

0.0

19.86

0.18

0.03

1.16

Haranga Resources Ltd

HAR AU Equity

AUD

0.014

-6.67

-77.42

0.7

2.93

0.09

0.01

1.16

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

0.050

0.00

-28.57

2.2

12.73

0.09

0.03

1.16

MNAP US Equity

USD

0.088

15.64

28.47

0.9

15.19

0.17

0.04

1.00

KRI CN Equity

CAD

0.380

15.15

33.33

48.5

22.84

0.45

0.18

1.13

Voyager Resources Ltd

VOR AU Equity

AUD

0.002

0.00

-50.00

0.2

3.03

0.01

0.00

1.16

East Asia Minerals Corp

EAS CN Equity

CAD

0.015

-25.00

-62.50

0.2

1.43

0.11

0.02

1.16

Erdene Resource Development Corp

ERD CN Equity

CAD

0.140

12.00

0.00

1.3

9.46

0.26

0.08

1.13

Modun Resources Ltd

MOU AU Equity

AUD

0.002

0.00

-50.00

0.1

3.07

0.01

0.00

1.16

Kincora Copper Ltd

KCC CN Equity

CAD

0.025

-16.67

0.00

7.9

6.83

0.09

0.02

1.13

General Mining Corp Ltd

GMM AU Equity

AUD

0.008

0.00

-52.94

0.7

0.93

0.02

0.01

1.16

Draig Resources Ltd

DRG AU Equity

AUD

0.014

0.00

-60.00

18.2

0.80

0.04

0.01

1.16

Newera Resouces Ltd

NRU AU Equity

AUD

0.001

-50.00

-83.33

0.7

1.02

0.01

0.00

1.16

BDI AU Equity

AUD

0.001

0.00

0.00

9.4

1.29

0.00

0.00

1.16

Manas Petroleum Corp

Khan Resources Inc.

Blina Minerals NL

Source: Bloomberg
MONGOLIAN STOCK MARKET
9 November 2014

JSC's

TOP20 index

15,311.52

3,639

shares

worth

Change day

30.51

mln

MNT

-1.07%

YTD

-6.07%

have

Company name

Trade volume

Trade value
'000

Last

Chg day

Chg day %

Buy
volume

Buy price

Sell price

Sell volume

BDL

2,800

28,000

10000

0.00%

15

9500

11000

50

APU

559

2,072

3706

-94

-2.47%

1743

3700

3800

701

NKT

178

50

280

-5

-1.75%

172

280

300

20

UYN

42

42

1000

0.00%

62

920

1150

20

SHG

36

231

6405

-145

-2.21%

100

6300

6400

DHU

24

120

5000

0.00%

5400

been

traded.

10 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

Disclaimer
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 the7591
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
3753 for you of the securities/transactions before investing
independently determine, with your own advisors, the appropriateness
or transacting.