The review of key events and forecasts from analysts of "ASYL INVEST" JCS (Kazakhstan) for October 18, 2011

/IRBIS, October 18, 2011/ - "ASYL INVEST" JCS (Almaty) has provided IRBIS with the review of key events and its investment ideas and forecasts for October 18, 2011. Analysts of "ASYL INVEST" JCS note the following events on world markets: - The external news background for the domestic market today is negative. Yesterday it became clear that the solution of debt problems is unlikely to be quick, as wanted by market participants and leaders of major countries and the U.S. economy still shows signs of weakness. The Asian market has now caught negative from outside markets. Major indices in the region decreased by more than 1.3%, while individual indicators are losing even more than 3% on fears of the Eurozone. - The market today could be supported by the statistics of Chinese GDP, industrial output and retail sales, but the data left mixed impressions. Chinese GDP in the third quarter increased by 9.1%, the weakest pace in two years, being also worse than the forecast of the market by 0.2 percentage points. Industrial production, however, in September rose by 13.8%, exceeding the forecast level of 13.4%. Retail sales in the country during the same month rose by 17.7% after 17% growth on the previous month. - Commodity markets today show moderately positive trend. Quotes of WTI and Brent grow from 0.2%. Copper prices at auction in New York fell by 1.3%, suggesting that the statistics of China does not encourage the investors to buy. Gold today has hardly changed in price. The euro/dollar today is growing by 0.3% after a dramatic collapse yesterday. - News background today is negative for the shares of mining companies in Kazakhstan. Although yesterday they decreased significantly, the further drawdown of quotations is quite likely, given the weak dynamics of prices for oil and industrial metals today. - Analysts of "Asyl INVEST" recommend to "buy" for Halyk Bank common shares, as believe that at current price levels, 218 tenge per share, they look extremely attractive. In fact, stocks are estimated at a book value that is not reasonable for the Bank, which has high growth prospects of net income and return on equity (ROE) due to higher net interest margins, operating efficiency, the presence of significant levels of liquidity and low debt burden. In addition, the analysts of "Asyl INVEST" believe that the issuer's shares also depend on economic conditions as the shares of mining companies in Kazakhstan, should catch up to the market after its growth in the last two weeks. This material is exclusively of informative character and is not offer or recommendation to make any deals with shares. "IRBIS" Agency is not responsible for the opinions given in the material. [2011-10-18]