Review of key events and forecasts from ASYL INVEST JCS (Kazakhstan) analysts for November 23, 2011

/IRBIS, November 23, 2011/ - ASYL INVEST JCS (Almaty) provided IRBIS with the review of main events and its investment ideas and forecasts for November 23, 2011. Analysts of ASYL INVEST JCS note the following tendencies on Kazakhstani and world markets: - Trading in Asia today is under pressure from negative economic news. Japan's Nikkei today is reduced to 0.4%, while China's Hang-Seng and Shanghai Composite lost 1.9 and 0.6% respectively. Futures on U.S. indices today reduced by 1.2%. The reason for economic concern in Asia was unexpectedly weaker growth of U.S. GDP in the third quarter of 2011. According to revised data economy grew by 2% instead of 2.5% on initial assessment. Statistics on China also gave grounds for concern. HSBC data on the index of business activity in the industrial sector showed reduced production. The index in November was 48 points against 50 points a month earlier. 50 points is the threshold between the reduction and increased production. - Commodity markets today show negative trend. Quotes of WTI oil and Brent fell by an average of 1%. Copper in electronic trading in New York is getting cheaper by 0.6%. - The euro/dollar continues to trade today in the hallway of 1.3422-1.3514. At today's auction rate becomes 0.3% at 1.346. - The news background now is moderately negative for stocks of mining companies in Kazakhstan, quotes of Kazakhmys, ENRC and KMG EP may show negative trend. - Analysts of ASYL INVEST recommend to "buy" on Halyk Bank common stock, which received good support at around 200 tenge. At current price levels, 210 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. [2011-11-23]