Review of key events and forecasts from ASYL INVEST JCS (Kazakhstan) analysts for November 17, 2011

/IRBIS, November 18, 2011/ - ASYL INVEST JCS (Almaty) provided IRBIS with the review of main events and its investment ideas and forecasts for November 17, 2011. Analysts of ASYL INVEST JCS note the following tendencies on Kazakhstani and world markets: - Trading in Asia today is in a moderately negative territory after the fall of the previous day. Today quotes are again under pressure as a result of yesterday's decline of the U.S. market more than 1.0% after the Bank of England and agency Fitch Ratings separately stated on the serious risks incurred by the debt crisis in the eurozone for the UK economy and the banking sector of U.S. Japan's Nikkei today is reduced by 0.2%, while China's Hang-Seng and Shanghai Composite lost 0.9 and 0.1%. Futures on U.S. indices today increased on moderate pace after falling the previous day. Today in the U.S. session U.S. data on initial applications for unemployment benefits, the volume of new construction, the index of business activity in the county from Philadelphia will be available. - Commodity markets today show negative trend. Quotes of WTI oil and Brent went down within 1%, after rising the previous day. Copper in electronic trading in New York reduced at a moderate pace, gold loses 0.2% of value. - The euro/dollar is once again testing the 1.35 mark, deploying substantial losses in morning trading. - News background is negative today for the shares of mining companies in Kazakhstan, quotes, Kazakhmys, ENRC and KMG EP may show marked decline. - Analysts of ASYL INVEST recommend to "buy" Halyk Bank common stocks, received good support at around 200 tenge. At current price levels, 219 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, reduce costs to the formation of provisions, effective control of operating expenses, the presence of significant levels of liquidity and low debt burden. - Analysts of ASYL INVEST recommend investors to "buy" preferred shares of Kazakhtelecom. As previously mentioned, stocks have high growth potential after the company announced the sale of its 49% stake in mobile operator LLC "GSM Kazakhstan". Selling shares at a much higher price (of mobile communications sector, even in the current situation is estimated at more than 9 annual profits) than it is recorded on the balance sheet, positive impact on its net profit in 2012 and is likely to give big dividends to shareholders up to 2012. 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. [2011-11-17]