MSE trades 13 billion MNT in shares by mid-March
- By Dulguun Bayarsaikhan -
- Mar 18,2021
The capital market in Mongolia is booming while the COVID-19 pandemic resurges in the country. Its primary exchange, the Mongolian Stock Exchange, has already traded stocks worth over 60 billion MNT this year, which is equivalent to 92 percent of total stocks traded last year.
The exchange had conducted trade worth 13 billion MNT between March 1 and 15. Shares of financial and insurance companies are priced highest on the exchange, according to the exchange’s daily reports. Among them, shares of Ard Financial Group and its subsidiary, Ard Credit JSC, were the most actively traded, followed by Mandal Daatgal and LendMN JSCs.
Analysts assessed that stock market activities became raucous after companies announced their distribution of dividends. The biggest impact is said to have been observed in share prices. The local capital market is expected to grow as more investors enter trading sessions.
In February 2021, 177.8 million pieces of securities valued at 41.9 billion MNT were traded on the national stock market, which marks a surge of 35.7 billion MNT (almost sevenfold), according to the National Statistics Office. The total turnover of stocks increased by 20.6 billion MNT (3 times more) and total turnover of shares increased by 56.3 million pieces (92.8 percent) compared to the previous month.
At the end of February, the average of indices of the top 20 financial markets was 25,876.9 units, up by almost 5,850 units from the previous month and by over 6,900 units from the same period of 2020. The total value of joint stock companies operating at stock markets had grown by 30 percent year-on- year to 3.6 trillion MNT by end-February.