Review of key events from analysts of ASYL INVEST (Kazakhstan) on March 3, 2010

/IRBIS, March 3, 2010/ - ASYL INVEST JSC (Almaty) provided IRBIS overview of major events and their investment ideas and projections on March 3, 2010. Analysts of ASYL INVEST distinguish the following important events in the markets: - National Bank of Kazakhstan for four months, bought at the market of foreign exchange at $ 7.5 billion According to Interfax-Kazakhstan, National Bank of Kazakhstan for the past four months, spent more than $ 7.5 billion to buy foreign currency. "By the end of February the total international reserves amounted to $ 52.7 billion, i.e. the National Fund and National Bank reserves, including gold and foreign assets of the National Bank - $ 27.5 billion, up 44% more than in February 2009, -- the report indicates. Currently tenge has a tendency to strengthen, and analysts of ASYL INVEST does not preclude the building of the national currency to KZT145 per U.S. dollar in the short term and believe that fundamentally must tenge worth even more. - The APC government funding provides an additional KZT30 billion. This news analysts of ASYL INVEST perceive positively. As is known in Kazakhstan scheduled for long-term program of forced industrial-innovative development, a priority is the development of agribusiness, in whose development is planned significant investments. Earlier in support of APC was planned allocation of KZT80 billion, holding "KazAgro" planned to introduce 27 projects totaling KZT40 billion. In the past year from the National Fund has been allocated $ 1 billion on the development of animal husbandry, crop production. To support agricultural producers of products have developed mechanisms for subsidies, including to develop the technology. In 2009, according to official figures, the gross output of agriculture increased by 13.8% compared with 2008, which became the biggest growth over the past 8 years. It was promoted and a rich harvest of grain. Against this background, analysts ASYL INVEST see a high potential for agricultural development and believe that the long-term portfolio investors, it would be profitable to invest in this sector. On the domestic stock exchange has listed only 5 of issuers of financial instruments which are essentially bonds. This is LLP Corporation AIC-Invest, JSC Holding KAZEXPORTASTYK", JSC "Atameken-Agro LLP, Concern Tsesna-Astyk" and JSC "National company" Food contract corporation ". Good credit qualities according to the AO ASYL INVEST have JSC National Company "Food Contract Corporation", JSC "Holding KAZEXPORTASTYK LLP and Corporation AIC-Invest. - Iron ore and ferroalloys: for ENRC positive background. Yesterday there was information that the import of iron ore by China may increase in March and reach a record 60 million tons. This assumption is based on the fact that up to 01 апреля current contracts expire, and the next will be at a higher price. In January, China imported 46.6 million tons of ore. The market rumors that the current negotiations on the supply of ore to China on 70-80% more expensive. The biggest producers of iron ore in the world previously announced a price increase of 40%. Along with this, Merafe Resources expects production growth of steel production by 18% in 2010, and therefore the expected growth in prices for ferrochrome. Previously, analysts ASYL INVEST wrote that also is expected to rise in prices for the supply of ferrochrome from Africa, due to increased costs for African producers. Current trends in the steel industry to create a positive market conditions for producers of iron ore and ferroalloys. Analysts of ASYL INVEST believe that the general background for the stock price ENRC develops positive. The given material has exclusively information character and is not the offer or the recommendation to make any transactions with the stocks. Agency "Irbis" doesn't take responsibility for the opinions which are in given material. [2010-03-03]