Review of key events and forecasts from ASYL INVEST JCS (Kazakhstan) analysts for November 21, 2011

/IRBIS, November 21, 2011/ - ASYL INVEST JCS (Almaty) provided IRBIS with the review of main events and its investment ideas and forecasts for November 21, 2011. Analysts of ASYL INVEST JCS note the following tendencies on Kazakhstani and world markets: - Trading in Asia today is accompanied by decline in major indexes under pressure on fears the Eurozone and the weak macroeconomic news. Yesterday it became known that one of the three leaders of the Greek coalition Antonis Samaras in response to the creditors refused to sign a declaration that he would support measures to resolve the crisis and the adoption of financial assistance from the EU, saying that his oral promise is enough. According to the market, such actions of the coalition put on a threat made in October agreement on Greece. Today, Singapore's Minister for Trade, said that the economy next year could slow down growth, while Japan's export statistics showed its first decline in three months due to the strengthening yen. Japan's Nikkei today is reduced by 0.2%, while China's Hang-Seng and Shanghai Composite lost 1.8 and 0.4% respectively. Futures on U.S. indices today continue to decline, losing nearly 0.6-0.8%. - Commodity markets today show weak trend. Quotes of WTI oil and Brent show very weak growth. Copper in electronic trading in New York is getting cheaper by almost 1%. - The euro/dollar today has not seriously advanced, trading at around 1.353 under pressure on news from Europe and the weak macroeconomic news. - News background today is negative for the shares of mining companies in Kazakhstan, quotes of Kazakhmys, ENRC and KMG EP may show marked decline in response to the weak dynamics of prices for industrial metals and oil. - Analysts of ASYL INVEST recommend to "buy" on Halyk Bank common shares, which received good support at around 200 tenge. At current price levels, 211 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 (mobile communications sector, even in the current situation is estimated at more than 9 annual profits) than it is recorded on the balance sheet, will have 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. [2011-11-21]