Mongolian Stock Exchange makes highest profit in its historyEconomy
Ulaanbaatar /MONTSAME/. In the first half of this year, the Mongolian Stock Exchange (MSE) made a profit of MNT 1.5 billion for the first time in 30 years. This high yield was mainly due to bond trading activity, which reached MNT 119.6 billion, 6.5 times higher than the same period of the previous year.
The total value of the Mongolian stock market reached MNT 3.8 trillion in the first half of 2021, which is a high record, showing an increase of 52.1 percent compared to the previous year. The TOP 20 index increased by 107 percent compared to the same period of the last year and reached 33,509 units, while market capitalization increased by 75 percent, reaching MNT 2.9 trillion.
From about 50 brokerage companies operating in Mongolia and contributing to the stock market, Ard Securities led in secondary market trading facilitation with MNT 160.4 billion or 64 percent of the market, BDsec facilitated MNT 19.8 billion or 8 percent, Standard Investment JSC facilitated MNT 15.4 billion or 6 percent, Golomt Capital facilitated MNT 8.7 billion or 4 percent, and Bumbat-Altai facilitated MNT 8.4 billion or 3 percent of the market respectively. For the first time, the efforts of all brokerage companies working together to develop the country’s stock market, which made a profit of MNT1.5 billion, were not in vain.
it is essential to note that the prosperity of the stock market in Mongolia is
gaining momentum and, as a result, is beginning to benefit the people. At the
same time, it is believed that the growing number of people interested in the
market will contribute to the further development of the sector.
Source: ARD Financial