Mongolian Stock Exchange
The Mongolian Stock Exchange (MSE) (Mongolian: Монголын Хөрөнгийн Бирж/Mongolyn Khöröngiin Birj), located in Ulan Bator, is Mongolia's sole stock exchange. It was established in January 1991 by the decree of the Mongolian Government to privatize state-owned assets,. MSE was the world's best-performing stock market after an increase of 121 percent in 2010. In 2011, MSE ranked the second best performing stock exchange in the world with 57.8 percent increase after Venezuela Caracas Stock Exchange, which increased by 80.8 percent.
The MSE has seen rapid growth in the past five years. As recently as 2006, it was the world's smallest stock exchange by market capitalisation (at that point roughly US$83 million). That grew to US$406 million by 2008 and then quadrupled again to US$2 billion by 2011. As of March 2012, it has 332 listed companies with a combined market capitalization of 2.9 trillion MNT (US$2.3 billion).
Read more about Mongolian Stock Exchange: Physical Location, People and Relationship-building, Trading and Technology, Timeline
Famous quotes containing the words stock and/or exchange:
“The freedom to make a fortune on the Stock Exchange has been made to sound more alluring than freedom of speech.”
—John Mortimer (b. 1923)
“If mass communications blend together harmoniously, and often unnoticeably, art, politics, religion, and philosophy with commercials, they bring these realms of culture to their common denominatorthe commodity form. The music of the soul is also the music of salesmanship. Exchange value, not truth value, counts.”
—Herbert Marcuse (18981979)