Daily Report

Mongolian Economic Indicators

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

Date
6/30/2016
6/30/2016
7/31/2016
7/31/2016
8/18/2016
7/31/2016
3/31/2016

Last
6,255
4,228
0.9
1,166.3
15.00
15.20
11.60

%YoY
3.70
0.10
-86.96
-24.08
-7.00
-79.06
56.80

FX Market
Currency
USD/MNT
CNY/MNT
RUB/MNT
EUR/MNT
JPY/MNT
EUR/USD
USD/JPY

Last
2,247.50
336.84
34.78
2,517.88
21.98
1.1203
102.25

%DoD

%WoW

0.31
0.24
0.34
0.13
0.59
0.04
-0.40

%MoM

0.31
0.24
0.34
0.13
0.59
0.04
-0.40

-8.01
-7.54
-9.91
-8.24
-7.84
0.26
-0.19

Debt Markets
Bonds - Coupon
DBM bond - 5.75
DBM bond - 1.52 samurai
Mongol 2018 - 4.125
Mongol 2022 - 5.125
Mongol 2018 - 7.5 dim sum
Mongol 2021 - 10.875
TDBM 2017 - 10 dim sum
TDBM bond - 9.375
MMC bond - 8.875

Amt.
issued mln
USD
580
293
500
1,000
150
500
105
500
600

Last
97.51
104.45
94.25
85.09
94.77
104.13
98.00
99.78
26.25

World Indices
Index
MSE - TOP 20
DJIA
S&P 500
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
MICEX/ Moscow Index 50
Shanghai Composite Index
Bloomberg/Asia Pacific. World

Country
MN
US
US
US
UK
AUS
CN
RUS
RUS
ASIA

Last
11,956.82
18,395.40
2,169.04
14,639.88
6,838.05
5,457.70
22,829.95
1,993.35
3,071.79
177.11

Commodity Prices
Commodity
Copper Spot /LME
Oil
Gold Spot /LME
Silver Spot /LME
Iron Ore 58%/Tianjin
Prime Coking Coal/China Import
Prime Coking Coal China Import
from Mongolia price

USD
4,603.50
47.04
1,317.35
18.47
USD
56.57
66.00

Yield

Maturity
date

10.442
0.865
8.192
8.106
10.303
9.545
13.898
9.438
460.731

3/21/2017
12/25/2023
1/5/2018
12/5/2022
6/30/2018
4/6/2021
1/21/2017
5/19/2020
3/29/2017

Performance
%DoD
YTD%
0.07
-7.29
-0.29
5.57
-0.16
6.12
0.06
12.53
0.31
9.54
-1.05
3.06
-0.35
4.18
0.39
13.17
0.05
-13.21
0.20
-2.78
Performance
%DoD
YTD%
-0.29
-2.17
-1.26
27.00
-0.29
24.15
-1.03
33.34
%MoM
YTD%
10.14
42.85
13.79
6.45

33.00

0.00
Coal/China
Import

Iron ore
Coal/China Import
from Mongolia

Copper

Gold

Oil

Source: Bloomberg Finance L.P.

-5.71

NEWS & UPDATES

8/29/2016

News
Commercial banks made 92.8 billion MNT mortgage loans
In July 2016, commercial banks made 92.8 billion MNT worth mortgage loans to 1592
families stated the Bank of Mongolia. Also, 596 families got 26.4 billion MNT mortgage
loans at a rate of 5%. 117 families got their 5.2 billion MNT loan switched from 8% to
5% last month. Total number of mortgage borrowers reached 85,622 and
outstanding mortgage debt is now 3.8 trillion MNT. Outstanding mortgage debt
growth rate has declined by 0.3% from last month, and by 10.3% from last year.
Montsame agency
62 thousand households reported an income above 1.1 million MNT
There are reported 62 thousand households with an income above 1.1 million MNT,
accounting for 7.2% of total number of households by the second quarter of 2016.
35.5% of total households have an income of 0.5-1.1 million MNT while the majority
of 57.3% households live on an income of up to half a million MNT. Median disposable
monthly income is 540 thousand MNT per household, of which 55.8% comes from
salary and wage while average monthly expenditure per household is 948 thousand
MNT, of which 65% is being spent on non-food goods and services.
National Statistics Office
Tender offer for "Gazar Suljmel" JSC
Tavan Bogd Trade LLC, who owns 44,251 shares or 67.7 percent of Gazar Suljmel
JSC (MSE:SUL), has made a tender offer to buy the rest of 21,111 shares from small
shareholders at 42,091 MNT per share. Gazar Suljmel's last closing price was 53,450
MNT. Tavan Bogd will receive sell orders between Aug 25th and Sep 25th. The
company announced that settlement will be made on Sep 30th.
Mongolian Stock Exchange
Shortage of kindergarden persists in spite of newly built ones
Ministry of Education and Science reported that there are about 235,000 children
waiting to enrol in a kindergarden for the academic year 2016 -2017, of which 45%
are in Ulaanbaatar. The number of 2 year olds, born in 2014, or first timers to enrol in
a kindergarden reached 27,500 children, an increase of 18.1% from last year. Within
the framework of supporting kindergardens from the ministry, 30 new buildings or
building extensions of kindergardens in Ulaanbaatar city and other privately owned
44 kindergardens are taking in an additional 6115 children.
Bloomberg TV Mongolia
World News
Fed's Yellen sees stronger case for interest rate hike
The Federal Reserve is getting closer to raising interest rates again, the head of the
U.S. central bankand other policymakers said on Friday in comments that left the door
open for a hike as early as next month. Fed Chair Janet Yellen told a global monetary
policy conference that the case for a rate increase had grown stronger, while Fed Vice
Chair Stanley Fischer suggested a move could come at the central bank's September
policy meeting if the economy was doing well. Although U.S. government data earlier
on Friday showed the economy growing only sluggishly in the second quarter, Yellen
said a lot of new jobs were being created and economic growth would likely continue
at a moderate pace.
http://www.reuters.com/article/us-usa-fed-yellen-idUSKCN1111ND
Worlds Biggest Pension Fund Loses $52 Billion in Stock Rout
The worlds biggest pension fund posted a $52 billion loss last quarter as stocks
tumbled and the yen surged, wiping out all investment gains since it overhauled its
strategy by boosting shares and cutting bonds.Japans Government Pension
Investment Fund lost 3.9 percent, or 5.2 trillion yen ($52 billion), in the three months
ended June 30, reducing assets to 129.7 trillion yen, it said in Tokyo on Friday. That
erases a 4.1 trillion yen investing return for the previous six quarters starting October
2014, the month it decided to put half its assets into equities.The quarterly decline
follows a 5.3 trillion yen loss in the fiscal year through March, the worst annual
performance since the global financial crisis.
http://www.bloomberg.com/news/articles/2016-08-26/world-s-biggest-pension-fundloses-52-billion-as-stocks-slump

29 August 2016

MONGOLIA RELATED COMPANIES

Company Name

Rio Tinto
Banpu
Turquoise Hill Resources
Areva
Mongolian Mining Corporation
Centerra Gold
SouthGobi Resources
Mongolia Energy Corporation
Denison Mines
Genie Energy
Central Asia Metals
Entre Gold
Xanadu Mines
Guildford coal / Terra Energy
Khan Resources
Aspire Mining
Prophecy Development Corp
Petro Matad Ltd
Mongolia Growth Group Ltd.
Erdene Resources Development
General Mining Corp Ltd
Kincora Copper
Haranga Resources
Wolf Petroleum
Viking Mines
Parmelia Resources
Altan Rio Minerals
Eumeralla Resources
Draig Resources

Closing
Price

31.540
16.100
3.070
6.000
0.104
6.640
1.320
0.158
0.510
6.160
174.000
0.290
0.180
0.022
0.644
0.017
4.150
2.950
0.370
0.325
0.655
0.320
0.005
0.012
0.027
0.000
0.010
0.031
0.035

Currency

%DoD

USD
THB
USD
EUR
HKD
CAD
HKD
HKD
USD
USD
GBp
USD
AUD
AUD
USD
AUD
CAD
GBp
CAD
CAD
AUD
CAD
AUD
AUD
AUD
AUD
CAD
AUD
AUD

-0.88
0.63
0.33
5.26
-7.96
-2.50
-0.76
0.00
-1.92
-0.81
-2.52
-3.30
-2.70
9.09
0.00
-5.88
-3.49
-3.28
2.07
-1.54
0.00
6.67
0.00
0.00
0.00
0.00
0.00
0.00
8.57

YTD %

8.31
32.80
20.87
1,166.31
-40.57
0.76
-45.42
-10.73
2.41
-43.40
13.45
22.99
63.64
242.86
158.24
100.00
18.57
-5.60
8.82
100.00
156.86
60.00
25.00
200.00
68.75
0.00
0.00
39.34
53.25

Daily Traded
value USD

217,625,000
19,580,856
10,724,410
1,133,394
222,247
19,643,430
7,571
1,524
135,935
304,506
22,436
37,475
11,230
7,562
1,287
1,303
7,004
0
0
3,769
63,634
740
7,922
7,136
12,309
0
108
19
5,218

Traded
Avg. 5 day traded Market cap mln
Volume Day
volume
USD

6,799,484
42,090,400
3,489,151
177,964
17,017,500
2,916,147
45,000
77,250
263,466
49,405
9,767
123,001
82,600
429,781
2,000
103,500
2,223
2,017,288
34,051
15,500
127,025
3,008
2,098,134
787,500
603,745
0
14,000
800
179,488

3,078,317
23,120,264
1,931,563
81,021
5,463,500
2,343,980
164,480
48,060
313,464
52,841
75,040
80,597
64,596
477,475
417
366,202
3,363
785,291
27,680
82,410
31,233
15,380
519,627
161,500
185,563
40,160
1,185,909

58,877.59
1,799.85
6,177.81
2,576.46
124.19
1,783.56
43.52
36.40
272.12
151.83
254.71
44.28
69.49
44.98
54.14
11.22
14.16
11.13
17.19
29.79
157.48
7.73
1.47
3.48
5.12
0.00
0.69
2.32
3.07

52w high

40.050
18.716
3.670
8.530
0.238
8.670
3.370
0.280
0.666
14.612
185.000
0.400
0.260
0.030
0.670
0.042
5.500
9.875
0.600
0.550
0.905
0.550
0.006
0.036
0.033
0.098
0.025
0.037
0.050

52w low

21.885
10.911
1.550
3.050
0.026
5.640
1.240
0.107
0.350
5.925
121.250
0.170
0.075
0.002
0.237
0.005
1.000
1.525
0.330
0.110
0.046
0.150
0.002
0.004
0.008
0.020
0.010
0.019
0.015

Industry
Metals & Mining
Oil, Gas & Consumable Fuels
Metals & Mining
Electrical Equipment
Metals & Mining
Metals & Mining
Oil, Gas & Consumable Fuels
Oil, Gas & Consumable Fuels
Oil, Gas & Consumable Fuels
Electric Utilities
Metals & Mining
Metals & Mining
Metals & Mining
Oil, Gas & Consumable Fuels
Oil, Gas & Consumable Fuels
Metals & Mining
Oil, Gas & Consumable Fuels
Oil, Gas & Consumable Fuels
Real Estate Management
Metals & Mining
Metals & Mining
Metals & Mining
Metals & Mining
Oil, Gas & Consumable Fuels
Metals & Mining
Metals & Mining
Metals & Mining
Metals & Mining
Metals & Mining

Source: Bloomberg

MONGOLIAN STOCK MARKET - MSE TOP 20 INDEX

Company name

MSE TOP 20 Index

APU JSC
Arig Gal JSC
Baganuur JSC
Bayangol Hotel JSC
BDSec JSC
Hermes Center JSC
Gobi JSC
Darkhan Nekhii JSC
Jenco Tour Bureau JSC
Makhimpex JSC
Merex JSC
Tavan Tolgoi JSC
Talkh Chikher JSC
UB-BUK JSC
State Department Store JSC
HB Oil JSC
Khukh Gan JSC
Sharyn Gol JSC
Shivee Ovoo JSC
E- Trans Logistics JSC

Closing
Price MNT

11,949
409
2,185
2,301
38,000
1,760
135
8,320
23,560
75
2,737
75
1,400
19,500
349
505
324
55
2,850
2,906
84

%DoD

-0.62
0.49
-1.60
-0.04
0.00
0.00
0.00
0.00
0.00
0.00
-1.35
0.00
0.00
1.54
0.00
0.00
0.00
0.00
0.00
0.00
-

28/08/2016

%YTD

Last Traded
date

-7.29
5.49
-8.51
-6.88
-20.83
-9.23
9.76
-1.89
29.10
0.00
-4.93
1.35
-52.54
13.92
59.00
-4.72
-22.86
-26.67
-26.01
-17.51
-30.00

8/28/2016
8/28/2016
8/28/2016
8/29/2016
8/23/2016
8/17/2016
8/25/2016
8/25/2016
8/9/2016
8/25/2016
8/28/2016
8/19/2016
8/25/2016
8/28/2016
8/26/2016
8/25/2016
6/15/2016
8/29/2016
8/26/2016
8/26/2016
8/26/2016

Daily Traded
value USD

749
272.97
0
147.50
31
100.44
156.62
25
12.93
2

Traded
volume Day

Avg. 5 day value

USD

8,654
1,500
17
200
447
6,400
20
10
60

2,673
1,652
4
6
20
156
59
160
264
155
6
84
131
58
-

Market Cap
USD

357,708,648
135,849,810
3,328,382
31,565,156
7,153,046
13,312,570
4,717,822
28,878,914
11,552,488
3,337,041
4,565,938
2,169,244
32,805,909
9,018,607
20,427,176
8,270,507
2,479,406
12,896,636
17,350,793
1,726,719

52w
high MNT

52w low
MNT

13,608
490
2,570
3,070
48,000
2,069
145
9,500
24,040
90
3,560
80
3,950
20,000
39,600
885
450
100
5,320
4,450
120

10,485
325
1,800
1,350
36,000
1,300
105
7,010
14,510
60
2,202
65
100
15,000
295
480
276
49
2,000
2,190
77

Industry
MSE Top 20 Index
Beverages-Wine/Spirits
Wool
Coal
Hotels&Motels
Finance-Invest Bnkr/Brkr
Retail-Misc/Diversified
Apparel Manufacturers
Apparel Manufacturers
Travel Services
Food-Meat Products
Bldg Prod-Cement/Aggreg
Coal
Food-Baking
Bldg Prod-Cement/Aggreg
Retail-Misc/Diversified
Oil Refining&Marketing
Metal-Diversified
Coal
Coal
Transport-Services

Source: Bloomberg
Gainers:
Guildford coal / Terra Energy
Draig Resources

9.09
8.57

Losers:
Mongolian Mining Corporation
Aspire Mining

-7.96
-5.88

Latest News:
No news
No news

No news
No news

29 August 2016

Golomt Securities LLC

Golomt Securities LLC provides timely and efficient execution of domestic and global securities transactions while concurrent ly providing
insightful advisory service based upon our unique proprietary research and analysis.
We have a physical seat on the Mongolian Stock Exchange (MSE) as well as trade access to all major international stock exchan ges and
over-the-counter markets through our longstanding
1166.31correspondent relationships with many of the world's leading banking instituti ons.

##### financial
10.5solutions-2.5
Our services offer the most comprehensive
to investors and companies seeking financing by taking a holist ic approach that
combines the strength of Golomt Bank's investment banking services and market research expertise as well as Golomt Securities LLC's state
of the art trade execution capabilities and superior service standards.
Contact
606B Central Tower
Great Chinggis Khaan's Square,
Ulaanbaatar 14200
Mongolia
Phone: +976-70121530
Fax:
+976-70121529
E-mail: info@golomtsecurities.com
Website: www.golomtsecurities.com

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Disclaimer
This document has been prepared by the Golomt Securities LLC 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 Securities LLC, 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.