Mining companies encounter stock decline www.zgm.mn
According to the trade performance index, MSE listed mining companies have faced a sharp decrease and inactive in share price during the period of border ban due to COVID-19. In particular, MSE tier-I listed Tavan Tolgoi JSC’s share price has been lowered by 35.3 percent within nearly three months, and market value lessened by MNT 121.2 billion. During the same period, the shares of MSE tier-II listed Aduun Chuluun JSC decreased by 26.4 percent, and the market capitalization dwindled by MNT 1.2 billion. However, Bayanteeg JSC’s shares declined by 12.2 percent and were traded only six times on MSE since February, while Berkh Uul JSC’s shares were traded only once during active trading froze. In addition, the construction industry is suffering badly from the looming recession either. In terms of MSE tier-II listed Arig gal JSC, the share price dropped by 9.3 percent since the border restriction. According to the Mongolian National Chamber of Commerce and Industry (MNCCI) survey, light industry companies are next in line which revenues falling by more than 40 percent.
Published Date:2020-04-30