UK chip designer Imagination bought by Chinese firm www.bbc.com

UK technology firm Imagination, which designs graphics chips for smartphones, is being bought for £550m by a Chinese-backed investment firm.
Imagination put itself up for sale in June after Apple, its largest customer, said it would stop using its products.
The boss of Imagination, Andrew Heath, said the takeover by China-backed Canyon Bridge was a "very good outcome" and would ensure it remained in the UK.
It becomes the latest UK chip designer to be bought by a foreign investor.
Last year, ARM, which designs microchip technology used in Apple and Samsung smartphones, was bought by Japan's Softbank for £24bn.
Canyon Bridge recently raised $1.5bn (£1.1bn) from Chinese investors and has offices in Beijing and San Francisco.
'British innovation'
The firm said it currently has no plans to cut jobs at Hertfordshire-based Imagination after the takeover.
Ray Bingham, a partner at Canyon Bridge, said: "We are investing in UK talent and expertise in order to accelerate the expansion of Imagination, particularly into Asia, where its technology platform will lead the continued globalisation of British-developed innovation."
Imagination saw its shares halve in value when Apple said in April that it would end a deal to use its products.
The two firms are still engaged in a dispute over the move - with Imagination questioning Apple's "assertions" that it would be able to develop its own computer chip designs without breaching Imagination's intellectual property rights.
Apple's royalty payments for the chip technology, used in its iPhones, iPads and iPods, accounted for about half of Imagination's revenues.

Russia launches ‘world’s biggest & most powerful’ nuclear icebreaker www.rt.com

The first serially-produced Sibir nuclear-powered icebreaker, designed to reinforce Russia’s leadership in the Arctic, was commissioned on Friday at the Baltic Shipyard in St. Petersburg.

Acting foreign minister takes part in ministerial meeting of Foreign ministers of LLCD www.montsame.mn

Ulaanbaatar /MONTSAME/ 2017 Annual Ministerial Meeting of Foreign Ministers of Landlocked Developing Countries (LLDC) took place in the framework of the 72th session of the UN General Assembly, in New York on September 20.

'One Belt, One Road' trade fair starts in China www3.nhk.or.jp

A trade fair promoting China's "One Belt, One Road" economic initiative has drawn record numbers of participants this year.

Kuwait opens a housing project for Mongolian flood victims www.news.mn

Kuwait has opened a housing project in Mongolia for the victims of the floods in the western province of Bayan-Ulgii, said a statement Wednesday. In the Muslim majority Bayan-Ulgii province, the USD 274,538 Fareej Al-Kuwait (Kuwait's neighborhood) project was opened in the presence of Kuwaiti Ambassador to Mongolia Khaled Al-Fadhli.

Share Activity Lifted for Mongolia Energy Corp Ltd (0276.HK) in Session www.stockdailyreview.com

Shares of Mongolia Energy Corp Ltd (0276.HK) is moving on volatility today -1.31% or -0.003 from the open. The HKSE listed company saw a recent bid of 0.226 on 1632250 volume.

Often times, investors may become worried when the stock market is highly volatile. Being prepared for volatile situations can help ease the fears that come along with turbulence. Following a well-crafted plan might help ride out the ups and downs that are a normal part of dealing with the market. Investors should be prepared for market situations that provide ample opportunities. Although market downturns can be unsettling and cause panic, investors who are able to stay the course and keep calm may be able to spot good buying opportunities when the wider market is selling. 

Taking a deeper look into the technical levels of Mongolia Energy Corp Ltd (0276.HK), we can see that the Williams Percent Range or 14 day Williams %R currently sits at -85.00. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.

Mongolia Energy Corp Ltd (0276.HK) currently has a 14-day Commodity Channel Index (CCI) of -134.84. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, Mongolia Energy Corp Ltd’s 14-day RSI is currently at 44.24, the 7-day stands at 36.86, and the 3-day is sitting at 19.83.

Currently, the 14-day ADX for Mongolia Energy Corp Ltd (0276.HK) is sitting at 24.45. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.

For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is currently at 0.26, the 50-day is 0.23, and the 7-day is resting at 0.23. Moving averages are a popular trading tool among investors. Moving averages can be used to help filter out the day to day noise created by other factors. MA’s may be used to identify uptrends or downtrends, and they can be a prominent indicator for detecting a shift in momentum for a particular stock. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action.

New train service on Trans-Siberian corridor swaps loads in Mongolia www.railfreight.com

A new regular container train service was launched on the Trans-Siberian route between China and Russia. The service makes the return of empty trains unnessecary, as trains departing from both countries meet in Mongolia, where they swap their load and return to their point of departure. 

EBRD First Vice President Bennett to visit Mongolia www.ebrd.com

EBRD First Vice President Phil Bennett will visit Mongolia next week to meet the interim government and the business community. It will be the first visit of a member of the Bank’s Executive Committee since the adoption of the new country strategy for Mongolia in June 2017.

Mongolia's tiny stock market soars on coal trade renaissance www.reuters.com

ULAANBAATAR, Sept 21 (Reuters) - A boom in the coal trade in Mongolia has helped elevate the country’s benchmark stock index and pump the tiny exchange’s market capitalisation to five-year highs as optimism about the economy grows following a bailout deal.

Coal miners in the landlocked north Asian country are set to increase production on the back of improved market conditions as demand grows from top trade partner China. Mongolia has helped fill a supply gap following Beijing’s ban on imports from North Korea and some smaller ports, as well as the closure in China of mines from tougher environmental regulations.

A $5.5 billion bailout approved by the International Monetary Fund (IMF) this year has also helped underpin positive market sentiment, although the disbursement of funds was delayed earlier this month when the government was toppled in a parliamentary no-confidence vote.

“Coal exports into China were growing very quickly in the first half of this year,” said Dashdorj Bilguun, director of capital markets at Golomt Capital in Ulaanbaatar.

“That’s translated into higher than expected GDP growth.”

Foreign interest remains limited and the market is thinly traded but the market’s headline performance has nonetheless been impressive.

The Mongolia Stock Exchange Top 20 Index has soared more than 45 percent since the start of the year to highs not seen since March 2012.

Total capitalisation of the market, meanwhile, for the first time surpassed the 2 trillion tugrik ($812.35 million) mark on Monday.

That’s an increase of more than 40 percent over last year and the highest - in local currency terms - since 2012, when the economy grew 12.3 percent. In dollar terms, however, market cap is smaller than it was five year ago because the tugrik has nearly halved in value against the dollar.

Mongolia reported 5.3 percent growth in the first half of 2017 with coal exports more than quadrupling over the same period the year before.

Leading the share market charge is Tavantolgoi JSC , a partially state-owned coal company in the Gobi Desert.

Drink maker APU JSC, another heavyweight, was also up on news of its planned merger with Heineken’s beer and vodka business in Mongolia, which was announced in July.

Tavantolgoi’s share price has risen by nearly five times over the past 12 months, while APU’s is up more than 50 percent.

Combined, both companies account for close to half of Mongolia’s entire market capitalisation.

There are risks to the rally. Political uncertainty has returned with the ousting of the prime minister and cabinet by lawmakers this month.

And coal exports may face troubles in the coming months as bottlenecks at the Chinese border slow trade.

But the domestic market is now likely to find more persistent support with a new government tax on savings interest giving local investors cause to look for places other than the bank to park their money.

“The money is flowing to corporate bonds and stocks,” Bilguun said.

More bad news for copper price www.mining.com

Copper futures trading on the Comex market in New York turned lower again on Thursday after indications that top consumer China will be well supplied with concentrate going in the the fourth quarter.