Review of key events and forecasts from ASYL INVEST JCS (Kazakhstan) analysts for October 24, 2011

/IRBIS, October 24, 2011/ - ASYL INVEST JCS (Almaty) provided IRBIS with the review of main events and its investment ideas and forecasts for October 24, 2011. Analysts of ASYL INVEST JCS note the following tendencies on Kazakhstani and world markets: - The external news background for the domestic market today is positive. Asian indexes are currently increasing in response to the optimism that prevailed last Friday at the European and American markets, in turn, associated with strong corporate news and hopes for a positive outcome of the summit of European leaders on the crisis. From a technical point of view, last Friday, ended in victory for the "bulls" who managed to fix the S&P500 at close of trading above the 100-day moving average, this week may give a signal for further purchases of risky assets. - Positive today comes from Asia, where data on China's index of business activity in manufacturing PMI Manufacturing, calculated by bank HSBC, showed an increase in October, data showed Japanese export growth. The index value in this month was 51.1, higher than the value the previous month, when it was 49.9. Value of the index above the mark of 50 points means the expansion of production, which reflected the details of the report, HSBC, showing the recovery of new orders and production volumes. Japan's exports in September rose by 2.4%, while economists had expected growth of just 1%. - Commodity markets today are growing on significant pace. Quotes of WTI oil and Brent added 1%, while copper is growing in electronic trading in New York on 3% after 6% recovery on Friday, and in Shanghai - 5%. Gold, recently going after markets, today adds 0.3%. The euro/dollar still stays at levels achieved in the Friday before the summit of European countries, which will take place on Wednesday. - The news background today is positive for stocks of mining companies in Kazakhstan, quotes of Kazakhmys, ENRC and KMG EP can markedly increase amid growth of prices for oil and industrial metals. - Growth can be noted for the banking sector after the demand for securities began to grow, judging by the results of trading on Friday. This material has only informative character and is not the offer or recommendation to make any transactions with the stocks. Irbis Agency doesn't take responsibility for the opinions which are given in this material. [2011-10-24]