World’s Best Stock Market of 2021 is Mongolia With 130% Returns
Mongolia’s MSE Top 20 Index is up by almost 130% this year Performance driven by booming consumption, exports to China September 16 ( Bloomberg ) The world’s hottest stock market is in the coldest of its capitals. In a year when a seemingly unstoppable rally has pushed equities from the U.S. to Europe into successive record highs, Mongolia’s minuscule bourse has emerged as the undisputed champion. The MSE Top 20 Index, which tracks the biggest companies in the planet’s most sparsely populated country, has gained almost 130% in 2021, by far the best performance among the primary equity indexes tracked by Bloomberg. While a losing streak this week has some traders asking if the party is coming to an end, optimists see room for further gains. “The Mongolian equities market has a blue sky potential, because it is growing from a very small base,” said Bilguun Ankhbayar, vice president of business development at Erdene Resource Development Corp. , a Canad...