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Change %
(Day)YTD change %
MSE - Top20 MN 14,919.19 0.41 -8.48
DJIA US 17,828.24 0.00 7.55
S&P 500 US 2,067.56 -0.25 11.86
Nasdaq US 4,791.63 0.09 14.73
S&P/TSX comp CN 14,744.70 -1.19 8.25
FTSE 100 UK 6,722.62 -0.01 -0.39
S&P/ASX 200 US 5,249.50 -1.20 -1.92
Hang Seng HK 23,674.57 -1.30 1.58
Bloomberg/asia.pac ASIA 178.04 -0.31 5.89
COMMODITY PRICES
Change %
(Day)YTD change %
Prime Coking Coal /Tianjin 139.94 0.00 -26.50
Zinc Spot /LME 2,212.75 -1.80 7.78
Iron Ore 58%/Tianjin 80.09 -41.02
Copper Spot /LME 6,412.00 -3.07 -13.07
Oil 64.75 -2.12 -34.21
Gold Spot /LME 1,152.73 -1.25 -4.07
Silver Spot /LME 14.95 -3.27 -23.24
MONGOLIAN ECONOMIC INDICATORS
Date LastYoY change
%
RGDP /bln. MNT/ 2014.07 9,857 5.3
NGDP /bln.MNT/ 2014.07 6,635 14.6
Inflation 2014.10 12.1
Foreign reserve /mln. USD/ 2014.09 1,542.7 -42.4
Policy rate July 31 ,2014 12.00
DEBT MARKET
Bonds - Coupon
Amt.
issued mln
USD
Last Yield Maturity date
DBM bond - 5.75 580 98.13 6.637 3/21/2017
MMC bond - 8.875 600 68.50 28.254 3/29/2017
Mongol 2018 - 4.125 500 95.29 5.584 1/5/2018
Mongol 2022 - 5.125 1,000 89.88 6.686 12/5/2022
TDBM 2015 - 8.5 300 99.88 8.636 9/20/2015
TDBM 2015 - 12.5 25 100.13 12.056 11/17/2015
TDBM 2017 - 10 dim sum 115 98.11 10.750 1/21/2017
DBM bond - 1.52 sam. 290 103.50 1.105 12/25/2023
INDICES CHANGE
MSE TOP 5 MOST TRADED
Trade value '000
MONGOLIAN RELATED NEWS
Mongolia and Buryatia agree to expand ties
Chairman of the People's Khural of the Republic of Buryatia Matvey Gershevich is making an official
visit to Ulaanbaatar. Chairman of the Ulaanbaatar Citizens' Representatives Khural D.Battulga
welcomed Chairman Gershevich and other officials of Buryatia, holding talks on bilateral relations and
developments between the two countries. At the beginning of the meeting Chairman D.Battulga
thanked the delegates from Buryatia for visiting Ulaanbaatar. D.Battulga introduced the structure,
organization of the Ulaanbaatar Citizens' Representatives Khural and about issues solved by the
board. He suggested that Chairman Gershevich hold a forum for the top tour companies of both
countries in Ulaanbaatar. Gershevich emphasized, "A win-win situation comes from future expansion
of bilateral trade, business, and bilateral cooperation since the meeting of the presidents of Russia
and Mongolia, which faded in past years. We are ready for cooperation with your country.” Chairman
of the People's Khural of the Republic of Buryatia Matvey Gershevich wants to revive flights between
Ulaanbaatar and Ulaan Ude, expand bilateral cooperation on railroads, jointly develop vehicle
logistics, cooperate on a natural gas gasification project, and export meat from Mongolian to a meat
processing plant in Ulaan Ude.
http://english.news.mn/content/196926.shtml
Booming Gold Production in Mongolia After Tax Decrease
From the beginning of the year to September, gold production in Mongolia steadily increased before it
tailed off slightly in October. Production of 1,797.6 kg in October was nonetheless 136.2% higher on
an annual basis. Mongolia is rich in minerals and ores and has a long tradition of mining and
quarrying activities. There are 67 companies operating solely in the sphere of gold mining. However,
the recent surge in gold production can be largely attributed to the new amendments to the Law on
Minerals approved by parliament which lower the royalty fees paid by gold mining companies and
increase the proportion of Mongolia’s area available to mining and exploration to 20% from about 8%.
Lifting the 2010 ban on new licenses is also accompanied by an increase in the period for exploration
to 12 years. Furthermore, the 10% royalty fee paid by the gold mining companies to either the Central
Bank of Mongolia or to other commercial banks is reduced to 2.5%, thus stimulating gold extraction
and limiting illegal mining activities. Gold exports also increased during the period, reaching USD 324
million by October 2014, a growth rate of 9.4% on an annual basis.
http://www.ceicdata.com/en/blog/booming-gold-production-mongolia-after-tax-
decrease#sthash.6sL9wWxI.dpuf
GLOBAL NEWS
Asia Stocks Fall With U.S. Futures on China, Holiday Data
Asia stocks fell with U.S. index futures as Chinese manufacturing slowed, American holiday spending
slowed and oil tumbled to a five-year low. Malaysia’s ringitt headed for the biggest two-day drop since
1998 and precious metals slumped. The MSCI Asia Pacific Index (MXAP) fell 0.5 percent by 10:51
a.m. in Tokyo, with Standard & Poor’s 500 Index futures dropping 0.3 percent. West Texas
Intermediate crude lost 2.1 percent to $64.76 a barrel, sending Australian energy stocks toward the
biggest three-day loss since the global financial crisis. Gold sank as Swiss voters rejected a measure
to force the central bank to hold bullion. The Bloomberg-JPMorgan Asia Dollar Index fell to a four-
year low as the ringgit weakened 1.2 percent. Collapsing oil prices are damping inflation expectations
and pushing global commodity indexes to multi-year lows. U.S. consumers cut spending by an
estimated 11 percent over the post-Thanksgiving weekend. China’s official factory index fell to 50.3
for November, below the 50.5 reading projected by economists, while a private gauge from HSBC
Holdings Plc and Markit Economics came in at 50, the border between expansion and contraction .
http://www.bloomberg.com/news/2014-11-30/aussie-slips-with-kiwi-amid-oil-rout-gold-extends-
drop.html
2014-12-01
1 December 2014Daily Report
PerformanceLastCountryIndex
Indicator
PerformanceLast
USDCommodity
NEWS & ANALYSIS
-8.48
7.55
14.73
8.25
-0.39
-1.92
1.58
4.49
8.26
YTD %
0.41
0.00
0.09
-1.19
-0.01 -1.20
-1.30
0.06
1.01
MSE - Top20
DJIA
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
DAX
Nikkei 225
Change % (Day)
18,879
1,238
334
3,426
0 10,000 20,000
APU
HBO
UID
GOV
0.08%
0.00%
-0.14%
0% 0% 0% 0%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Janu
ary
-13
Feb
ruary
-13
Ma
rch
-13
April-1
3
Ma
y-1
3
June
-13
July
-13
Augu
st-
13
Septe
mb
er-
13
Octo
be
r-1
3
No
ve
mbe
r-13
De
ce
mbe
r-13
Janu
ary
-14
Feb
ruary
-14
Ma
rch
-14
April-1
4
Ma
y-1
4
Jun
e-1
4
Th
ou
san
ds
Volume MSETOP Index
Daily Report | 2014.12.01
1 December 2014 2
MONGOLIAN RELATED COMPANIES
Name Sym Currency Last Chg day % YTD %Trade value 000
USD
Market cap mln
USD/52w high 52w low
Currency
cross
Turquoise Hill TRQ US Equity USD 3.260 -5.78 -1.21 7,030.3 6,560.09 4.36 2.93 1.00
Centerra Gold CG CN Equity CAD 5.210 -9.39 20.60 3,562.8 1,076.53 6.90 3.07 1.14
MMC 975 HK Equity HKD 0.470 -2.08 -32.90 98.9 561.43 0.84 0.33 7.75
Denison Mines Corp DML CN Equity CAD 1.170 -0.85 -9.30 1,038.4 517.32 1.95 1.02 1.14
Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.315 -3.08 -35.71 6.2 153.28 0.58 0.31 7.75
MoEnCo 276 HK Equity HKD 0.610 3.39 -37.24 0.2 132.88 1.10 0.58 7.75
SouthGobi Resources 1878 HK Equity HKD 3.850 0.00 -44.04 63.1 96.52 8.35 3.74 7.75
Central Asia Metals PLC CAML LN Equity GBp 162.000 1.25 14.89 8,025.4 281.59 190.00 141.00 0.64
Mongolia Investment Group Ltd 402 HK Equity HKD 0.270 -3.57 -6.90 10.4 233.35 0.38 0.16 7.75
Mongolia Growth Group YAK CN Equity CAD 1.140 1.79 -49.78 22.2 34.72 3.07 1.12 1.14
North Asia Resources Holdings Ltd 61 HK Equity HKD 0.153 0.00 -15.93 54.7 119.08 0.21 0.10 7.75
Guildford Coal Ltd GUF AU Equity AUD 0.043 4.88 -48.11 13.5 33.32 0.11 0.04 1.18
Origo Partners PLC OPP LN Equity GBp 7.188 0.00 -2.54 0.0 40.03 8.25 6.88 0.64
Entree Gold Inc ETG CN Equity CAD 0.230 -8.00 -25.81 8.8 29.55 0.52 0.21 1.14
Aspire Mining Ltd AKM AU Equity AUD 0.031 -3.13 -44.64 14.0 18.42 0.07 0.03 1.18
Prophecy Coal Corp PCY CN Equity CAD 0.070 16.67 -12.50 12.0 15.41 0.11 0.04 1.14
FeOre Ltd FEO AU Equity AUD 0.030 3.45 -26.83 3.0 13.40 0.08 0.02 1.18
Petro Matad Ltd MATD LN Equity GBp 2.875 0.00 -23.33 0.0 12.55 11.50 2.00 0.64
Xanadu Mines Ltd XAM AU Equity AUD 0.100 0.00 100.00 18.2 20.57 0.18 0.03 1.18
Haranga Resources Ltd HAR AU Equity AUD 0.018 5.88 -70.97 0.7 3.67 0.09 0.01 1.18
Wolf Petroleum Ltd WOF AU Equity AUD 0.046 0.00 -34.29 3.9 10.48 0.08 0.03 1.18
Manas Petroleum Corp MNAP US Equity USD 0.095 0.00 38.69 9.9 15.86 0.17 0.04 1.00
Khan Resources Inc. KRI CN Equity CAD 0.430 4.88 50.88 14.7 25.60 0.45 0.18 1.14
Voyager Resources Ltd VOR AU Equity AUD 0.001 0.00 -75.00 0.1 1.48 0.01 0.00 1.18
East Asia Minerals Corp EAS CN Equity CAD 0.020 0.00 -50.00 0.6 1.86 0.11 0.01 1.18
Erdene Resource Development Corp ERD CN Equity CAD 0.110 15.79 -21.43 1.6 7.92 0.26 0.08 1.14
Modun Resources Ltd MOU AU Equity AUD 0.003 0.00 -25.00 1.0 4.49 0.01 0.00 1.18
Kincora Copper Ltd KCC CN Equity CAD 0.025 25.00 0.00 3.0 6.77 0.09 0.02 1.14
General Mining Corp Ltd GMM AU Equity AUD 0.007 0.00 -58.82 0.1 0.79 0.02 0.01 1.18
Draig Resources Ltd DRG AU Equity AUD 0.018 0.00 -48.57 2.7 1.01 0.04 0.01 1.18
Newera Resouces Ltd NRU AU Equity AUD 0.001 0.00 -83.33 0.5 1.00 0.01 0.00 1.18
Blina Minerals NL BDI AU Equity AUD 0.001 0.00 0.00 2.1 1.25 0.00 0.00 1.18
Source: Bloomberg
MONGOLIAN STOCK MARKET
30 November 2014 21 JSC's 36,629 shares worth 35.20 mln MNT have been traded.
TOP20 index was 14,919.19 0.41% YTD -8.48%
Company name Trade volumeTrade value
'000Last Chg day Chg day %
Buy
volumeBuy price Sell price Sell volume
HGN 16,840 1,852 110 0 0.00% 16,840 137 110 115 142
JTB 10,044 844 84 -1 -1.18% 10,044 400 82 86 796
APU 5,168 18,879 3653 3 0.08% 5,168 347 3650 3750 106
HBO 2,250 1,238 550 0 0.00% 2,250 700 501 550 205
UID 596 334 560.09 -1 -0.14% 596 500 561 580 170
GOV 463 3,426 7400 0 0.00% 463 10 6900 7400 149
EER 349 907 2600 250 10.64% 349 1 2600 2700 5550
TTL 250 1,148 4590 -10 -0.22% 250 100 4001 4590 310
ETR 193 18 95 -5 -5.00% 193 2000 90 100 367
MMX 168 630 3750 0 0.00% 168 200 3750 3800 2453
HSR 77 316 4100 0 0.00% 77 73 4100 4500 120
BAN 50 175 3500 0 0.00% 50 100 3300 3500 279
MDR 49 24 495 -5 -1.03% 49 1000 475 495 325
BNG 29 1,682 58000 0 0.00% 29 71 58000 60000 1
SUL 29 1,363 47000 -2400 -4.86% 29 7 45000 50000 170
ATR 28 1,904 68000 0 0.00% 28 22 68000 100000 1043
DLG 17 94 5500 -400 -6.78% 17 0 0 6130 268
MIB 10 2 220 5 2.33% 10 92 220 249 5500
SHV 10 53 5300 -100 -1.85% 10 10 5300 5500 10
TAV 8 244 30500 0 0.00% 8 68 30500 33000 104
TCK 1 19 18500 0 0.00% 1 199 18500 19000 33
30 day graphic
Change day
3
0
2013.06 2702.1
2013.06 7591
13606.65
3700
1 December 2014
Disclaimer This document has been prepared by the investment banking division of Golomt Bank for information purpose only. The views expressed are the 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 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 independently determine, with your own advisors, the appropriateness for you of the securities/transactions before investing or transacting.
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. 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 Bank’s team of seasoned banking and investment professionals. Contact Sukhbaatar Square, Ulaanbaatar 210620A, Mongolia Fax: +976-70117676 /1402/ E-mail: [email protected] Website: www.golomtbank.com
