The Mongolian stock market recovery gained momentum during the week of April 13 to 19. A total of 5.09 million securities worth MNT 7.08 billion changed hands on the Mongolian Stock Exchange. Golomt Bank, Khan Bank, and Invescore NBFI led trading activity by value. The TOP-20 Index rose by 0.97 percent during the week. Furthermore, the MSE A Index increased by 2.00 percent while the MSE B Index gained 0.52 percent.
This stock market recovery followed earlier technical declines related to ex dividend adjustments. Ongoing shareholders meetings provided increased clarity for investors. The rise in the MSE A Index reflects stronger price recovery among large and mid cap companies. Additionally, investor forums and promotional activities have introduced Mongolia’s capital market to international audiences. These efforts are creating favorable conditions for sustaining long term market interest.
Securities market turnover reached MNT 269.5 billion in the first quarter of 2026. This represents a 56.2 percent increase compared to the same period last year. The primary market accounted for 52.0 percent of total turnover. Consequently, the secondary market made up the remaining 48.0 percent. New issuances and financing transactions remain the main drivers of market growth. However, trading activity remains concentrated within specific segments rather than broadly distributed.
The total number of traded securities reached 111.6 million units. That figure decreased by 58.4 percent compared with the same period last year. Therefore, turnover growth is supported by higher value transactions rather than trading volume. Total market capitalization reached MNT 13.7 trillion. This represents an annual increase but a month on month decline. The stock market recovery thus shows some fragility despite positive indicators.
Mongolia’s economy maintained growth in the first quarter of 2026 as well. Total trade turnover rose by 32.5 percent year on year. Exports surged by 62.3 percent to become the primary driver of expansion. Imports declined by 2.7 percent, suggesting domestic demand remains relatively constrained. As a result, the trade balance improved significantly. The external sector continues to be a key contributor to economic growth.
Total industrial output grew by 61.2 percent year on year. The mining sector specifically expanded by 74.2 percent. The electricity and energy sector also grew by 46.7 percent. Money supply increased by 21.3 percent while outstanding loans rose 16.6 percent. Consumer price index inflation reached 7.4 percent. Food prices drove this increase with a 13.9 percent rise. Producer price inflation hit 16.7 percent, indicating growing cost pressures.
The stock market recovery coincides with these broader economic trends. Budget revenue grew by 11.9 percent while expenditure rose 17.9 percent. This resulted in a widened fiscal deficit of MNT 1.4 trillion. Expenditure growth was mainly driven by capital spending and current transfers. Despite maintaining growth, Mongolia’s economic expansion remains concentrated in the external sector and mining industry. Domestic demand remains relatively limited with inflationary pressures persisting. The structure of economic growth and sectoral balance will require continued attention.
