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Foreign investors played little role in last year’s Mongolian Stock Exchange rally. (Source photos by Anand Tumurtogoo)
Market Spotlight

Mongolia stock market turns heads with 133% gain

Benchmark index topped world in 2021 as investors prepared for bank IPOs

ANAND TUMURTOGOO and KHALIUN BAYARTSOGT, Contributing writers | Mongolia

ULAANBAATAR -- Mongolia has long been a force on the world's resource markets, due to its ample deposits of coal, copper and gold. These days, though, it is the country's stock market that is turning heads.

The MSE Top 20 Index, the national benchmark, soared 132.7% last year, by far the world's best performance, as the Mongolia Stock Exchange, set up shortly after the end of one-party communist rule, marked its 30th anniversary.

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