2014-12-25

Daily Report
Report
Daily
|
NEWS & ANALYSIS

25 December 2014

2014.12.25
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)

14,686.21
18,030.21
2,081.88
4,773.47
14,609.25
6,609.93
5,394.50
23,349.34
179.15

MN
US
US
US
CN
UK
US
HK
ASIA

YTD change %

1.40
0.03
-0.01
0.17
0.10
0.18
0.25
0.07
-0.33

-9.91
8.77
12.63
14.29
7.25
-2.06
0.79
0.18
6.55

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)

138.41
2,148.50
73.13
6,361.00
55.84
1,173.80
15.78

YTD change %

0.00
-0.47

-26.50
4.65
-46.14
-13.76
-43.26
-2.32
-18.98

-0.31
-2.24
0.00
0.36

MONGOLIAN ECONOMIC INDICATORS

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

Date

Last

2014.07
2014.07
2014.11
2014.10
July 31 ,2014

1,398.1
12.00

Last

Yield

YoY change
%
7.0
11.5
-41.5

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

96.25
66.50
93.14
87.02
99.50
99.63
96.83
104.07

Maturity date

7.605
30.486
6.441
7.188
9.194
12.612
11.444
1.018

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

9.34

-0.23

DAX

3.87

0.57

Hang Seng

0.18

0.07
0.25

S&P/ASX 200

FTSE 100

0.18

S&P/TSX comp

0.10

0.79
-2.06
7.25

0.17

DJIA

GLOBAL NEWS
Japan Stocks Fall for First Time in Five Days on Yen Gain
Japanese stocks fell for the first time in five days as the yen strengthened. Most Asian markets were
closed for the Christmas holidays. The Topix (TPX) dropped 0.2 percent to 1,422.92 at 9:59 a.m. in
Tokyo, while the Japanese currency gained 0.2 percent to 120.32 against the dollar. U.S. and
European stock markets closed little changed yesterday, while oil dropped as a report showed U.S.
crude inventories increased the most in two months. Japanese Prime Minister Shinzo Abe vowed to
push ahead on the biggest reforms since the second world war after being selected by parliament as
prime minister following his election victory, and naming his cabinet with only one change. Japan will
put together economic stimulus this week, he said yesterday. The Topix has risen 9.3 percent this
year as the Bank of Japan expanded monetary easing and the nations public pension fund
announced it will boost its local share holdings. The benchmark gauge jumped 51 percent in 2013,
the most since 1999. The Standard & Poors 500 Index fell less than one point, erasing an earlier gain
of as much as 0.3 percent in the last minutes of a holiday-shortened session.
http://www.bloomberg.com/news/2014-12-23/dollar-holds-jump-on-u-s-economy-dow-rises-above-18000.html

8.77
1.40

Volume

-9.91
YTD %

Change % (Day)
MSE TOP 5 MOST TRADED

Trade value '000

MRX

Mitsubishi seeks contract with Oyu Tolgoi copper mine

The third largest copper producer of Japan, Mitsubishi Materials Corp, is looking for a long term
contract to extract copper from the Oyu Tolgoi mine, located in Mongolia. The company as well as the
Mitsui and Co, the trade house based in Japan has together signed a contract in order to extract
copper from the Oyu Tolgoi based in Mongolia, which allows both of the companies to export 5,000
metric tonnes copper ore from Oyu Tolgoi mine in a trial basis. The General Manager of Mitsubishi's
raw material division, Tatsuya Inoue, declared the matter today on the Tokyo based headquarters of
the company. This move by the company, Mitsubishi was to diversify where the company gets its raw
materials. The company had already imported about 1 million tonnes of copper concentrates per year,
of which about 70 percent of the total imports are carried from South America. One of the biggest
copper concentrates in the world, Oyu Tolgoi, had put a halt on its expansion procedures due to a
conflict between the shareholders of the mine, Rio Tinto, and the government of Mongolia. The mine
is anticipated to produce about 195,000 tonnes of copper concentrates in the year of 2015. According
to Inoue, Mitsui has arranged the shipping of copper concentrates, which will be carried through the
rail to Vladivostok, the Russian Port, and then via ship to the Mitsubishi Materials, which is located in
Naoshima plant, in the Southern Shikoku Island in Japan. The shipping would reach Japan, within a
time limit of 30 days, which is similar to Chile.
http://www.metal.com/newscontent/68263_mitsubishi-seeks-contract-with-oyu-tolgoi-copper-mine

14.29

0.03

MSE - Top20

MONGOLIA-CHINA STRATEGIC DIALOGUE LAUNCHES

The first meeting of the Mongolia-China strategic dialogue on a Vice Foreign Ministerial level kicked
off Wednesday in Ulaanbaatar. This meeting has been co-chaired by N.Oyundari, Mongolias Vice
Minister of Foreign Affairs, and by Liu Jianchao, an Assistant FM of China. The sides are sharing
views on the foreign policy, international and regional issues, on giving conclusions over the bilateral
cooperation in the politics, economy, culture and humanitarian spheres, and collaboration between
the two Ministries. Within the meeting, Mr Liu Jianchao has been received by Mr L.Purevsuren, the
Mongolian Minister of Foreign Affairs. In addition, the Chinese delegation has met with Mongolian
scholars, researchers and media.
http://en.montsame.mn/politics/item/9645-mongolia-china-strategic-dialogue-launches

Thousands

Nasdaq

MONGOLIAN RELATED NEWS

15 percent redundancy cuts planned for Ministry of Mining
The Ministry of Mining announced that there was a 15 percent redundancy at the ministry during the
monthly Transparent Mining press conference given by Mining Minister R.Jigjid and ministry officials
on December 23rd. At the press conference, Minister R.Jigjid gave a brief introduction to the changes
to the structure and positions at the ministry, following the government decision to cut redundant
positions and agencies. Under the new structure, the justice division at the ministry has been
dissolved. The Mining Ministry will now operate with five departments and four divisions. Fifteen
percent of staff positions were determined to be redundant by the Mining Ministry. The Nuclear
Energy Agency has also been dissolved, so experts specializing in radioactive minerals will be
transferred to the Mining Ministry and Mineral Resources Authority.
http://english.news.mn/content/199468.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

900

NEH

6,000

4,000

-0.06%

1,260

4,000

2,000

0%

October-14

July-14

August-14

May-14

June-14

April-14

March-14

January-14

October-13

July-13

August-13

May-13

December-14

-1%

November-14

-2%

September-14

-3%

February-14

-4%

June-13

-3.23%

December-13

4,000

November-13

2,000

September-13

April-13

3,000

0
January-13

MIE

2,000

0
March-13

0.00%

2,142

February-13

BUK

25 December 2014

MONGOLIAN RELATED COMPANIES

Chg day
%

YTD %

Trade value
000 USD

Market cap mln

USD/

52w high

52w low

Currency
cross

2.910

0.00

-11.82

3,602.9

5,855.79

4.36

2.75

1.00

5.550

2.59

28.47

3,353.8

1,128.34

6.90

3.16

1.16

HKD

0.350

6.06

-50.03

429.1

417.71

0.84

0.32

7.76

DML CN Equity

CAD

1.150

0.00

-10.85

717.6

500.30

1.95

1.02

1.16

Winsway Coking Coal Holdings Ltd

1733 HK Equity

HKD

0.250

-1.96

-48.98

6.9

121.54

0.55

0.25

7.76

MoEnCo

276 HK Equity

HKD

0.410

0.00

-57.82

4.1

89.23

1.06

0.39

7.76

SouthGobi Resources

1878 HK Equity

HKD

3.680

-0.27

-46.51

7.4

103.72

7.41

3.49

7.76

Central Asia Metals PLC

CAML LN Equity

GBp

172.000

-1.50

21.99

105.1

297.94

190.00

141.00

0.64

Mongolia Investment Group Ltd

402 HK Equity

HKD

0.265

1.92

-8.62

1,218.3

228.82

0.38

0.16

7.76

Mongolia Growth Group

YAK CN Equity

CAD

0.770

0.00

-66.08

56.5

23.08

3.07

0.75

1.16

61 HK Equity

HKD

0.151

0.00

-17.03

0.0

117.42

0.21

0.10

7.76

Guildford Coal Ltd

GUF AU Equity

AUD

0.031

-11.43

-62.59

0.2

23.09

0.11

0.03

1.23

Origo Partners PLC

OPP LN Equity

GBp

6.125

0.00

-16.95

59.2

33.98

8.25

6.13

0.64

Entree Gold Inc

ETG CN Equity

CAD

0.210

10.53

-32.26

38.6

26.55

0.52

0.18

1.16

Aspire Mining Ltd

AKM AU Equity

AUD

0.031

0.00

-44.64

0.3

17.70

0.07

0.03

1.23

Prophecy Coal Corp

PCY CN Equity

CAD

0.055

-8.33

-31.25

14.6

11.91

0.11

0.04

1.16

FeOre Ltd

FEO AU Equity

AUD

0.026

0.00

-36.59

1.2

11.17

0.08

0.02

1.23

Petro Matad Ltd

MATD LN Equity

GBp

2.250

0.00

-40.00

363.2

9.78

11.50

2.00

0.64

Xanadu Mines Ltd

XAM AU Equity

AUD

0.120

0.00

140.00

41.4

41.34

0.18

0.03

1.23

Haranga Resources Ltd

HAR AU Equity

AUD

0.011

-8.33

-82.26

0.7

3.05

0.09

0.01

1.23

Wolf Petroleum Ltd

WOF AU Equity

AUD

0.045

0.00

-35.71

5.9

10.75

0.08

0.03

1.23

Manas Petroleum Corp

MNAP US Equity

USD

0.095

-11.21

38.69

0.0

15.86

0.17

0.04

1.00

Khan Resources Inc.

KRI CN Equity

CAD

0.430

0.00

50.88

5.5

25.19

0.45

0.20

1.16

Voyager Resources Ltd

VOR AU Equity

AUD

#N/A N/A

#VALUE!

#VALUE!

#N/A N/A

#N/A N/A

1.23

East Asia Minerals Corp

EAS CN Equity

CAD

0.010

0.00

-75.00

0.0

0.89

0.11

0.01

1.23

Erdene Resource Development Corp

ERD CN Equity

CAD

0.100

0.00

-28.57

1.9

7.08

0.26

0.09

1.16

Modun Resources Ltd

MOU AU Equity

AUD

0.003

0.00

-25.00

1.0

4.32

0.01

0.00

1.23

Kincora Copper Ltd

KCC CN Equity

CAD

0.020

0.00

-20.00

0.1

5.33

0.09

0.02

1.16

General Mining Corp Ltd

GMM AU Equity

AUD

0.005

0.00

-70.59

0.0

0.55

0.02

0.01

1.23

Draig Resources Ltd

DRG AU Equity

AUD

0.013

0.00

-62.86

1.5

0.70

0.04

0.01

1.23

Newera Resouces Ltd

NRU AU Equity

AUD

0.002

0.00

-66.67

4.6

1.98

0.01

0.00

1.23

Blina Minerals NL

BDI AU Equity

AUD

0.001

0.00

0.00

0.7

1.31

0.00

0.00

1.23

Name

Sym

Currency

Last

Turquoise Hill

TRQ US Equity

USD

Centerra Gold

CG CN Equity

CAD

MMC

975 HK Equity

Denison Mines Corp

North Asia Resources Holdings Ltd

30 day graphic

#N/A N/A #N/A N/A

Source: Bloomberg

MONGOLIAN STOCK MARKET

24 December 2014
TOP20 index

19

JSC's

was

14,686.21

28,989

shares

worth

Change day

82.01

mln

MNT

1.40%

YTD

-9.91%

have

Company name

Trade volume

Trade value
'000

Last

Chg day

Chg day %

Buy
volume

Buy price Sell price

Sell volume

TTL

16,237

69,933

4307

307

7.68%

100

3700

4500

2461

TCK

186

3,441

18500

0.00%

16

18500

18800

MIE

200

3,000

15000

-500

-3.23%

13200

14900

46

BUK

50

2,142

42840

0.00%

NEH

72

1,260

17500

-10

-0.06%

17600

20100

MRX

10,000

900

90

0.00%

189

81.5

90

7598

UID

749

420

561

-0

-0.08%

578

55

GOV

44

308

7000

-20

-0.28%

163

7000

7020

APU

48

181

3770

19

0.51%

312

3770

4189

10

BAN

27

81

3000

0.00%

60

2551

2900

337

HGN

800

77

96

0.00%

5669

95

96

14638

EER

26

61

2350

0.00%

231

2350

2699

17

UYN

55

58

1050

92

9.61%

357

950

1144

10

BDL

50

9900

0.00%

9990

15

SHG

47

5900

100

1.72%

100

5600

5900

92

JTB

200

17

84

0.00%

400

80

84

421

RMC

136

13

96

0.00%

140

96

100

2730

ETR

100

10

99

-1

-1.00%

2000

90

99

50

MIB

46

10

210

0.00%

4177

210

220

145

been

traded.

25 December 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
2014.09
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
3250 for you of the securities/transactions before investing
independently determine, with your own advisors, the appropriateness
or transacting.