MSE sees biggest loss in 44 weeks
Last week the MSE Top 20 index plunged 4.57, the largest decline since 16 December 2011.
The index, the main benchmark to Mongolian Stock Exchange (MSE), dropped to a new low of 16,550.12, dropping under 17,000, on which the benchmark found support in the previous week. The daily trading volume, however, improved to MNT 35.7 billion from MNT 19.8 million of the previous week.
During the week, equities of 36 companies traded. On the international level, most major markets advanced while MSCI Frontier Markets index was down last week.
“We view that last week's sell off was primarily influenced by September economic data released on the previous Friday,” said securities boutique Eurasia Capital. “According to the release, the Mongolian economy grew 10.2 percent year-on-year in the first three quarters, which missed market expectations.”
The index, the main benchmark to Mongolian Stock Exchange (MSE), dropped to a new low of 16,550.12, dropping under 17,000, on which the benchmark found support in the previous week. The daily trading volume, however, improved to MNT 35.7 billion from MNT 19.8 million of the previous week.
During the week, equities of 36 companies traded. On the international level, most major markets advanced while MSCI Frontier Markets index was down last week.
“We view that last week's sell off was primarily influenced by September economic data released on the previous Friday,” said securities boutique Eurasia Capital. “According to the release, the Mongolian economy grew 10.2 percent year-on-year in the first three quarters, which missed market expectations.”
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