1 39 MONGOLIAN STUDENTS TO STUDY IN GERMANY UNDER “PRESIDENT'S SCHOLAR - 2100” PROGRAM WWW.MONTSAME.MN PUBLISHED:2025/07/30      2 MONGOLIAN FLAG CARRIER TO START NON-STOP FLIGHTS BETWEEN SINGAPORE AND ULAANBAATAR FROM NOV 4 WWW.STRAITSTIMES.COM PUBLISHED:2025/07/30      3 WHEN CHINA SNEEZES, MONGOLIA CATCHES A COLD WWW.INTELLINEWS.COM PUBLISHED:2025/07/30      4 MONGOLIA–JAPAN INTERNATIONAL BUSINESS INNOVATION FORUM TO BE HELD ON AUGUST 18 WWW.MONTSAME.MN PUBLISHED:2025/07/30      5 GREENHOUSE PROPAGATION TECHNOLOGY FOR CONIFEROUS TREES UNDER TESTING WWW.MONTSAME.MN PUBLISHED:2025/07/30      6 DIRECT FLIGHTS FROM KOREA TO MONGOLIA'S KHUVSGUL LAUNCHED WWW.AKIPRESS.COM PUBLISHED:2025/07/30      7 8 KILLED, 41 INJURED IN ROAD ACCIDENTS IN MONGOLIA OVER NAADAM FESTIVAL WWW.XINHUANET.COM PUBLISHED:2025/07/30      8 CONSOLIDATING PARLIAMENTARY DEMOCRACY IN MONGOLIA WWW.VERFASSUNGSBLOG.DE  PUBLISHED:2025/07/29      9 MONGOLIA’S NEW CHALLENGE: ILLEGAL DRUGS WWW.THEDIPLOMAT.COM PUBLISHED:2025/07/29      10 PRESIDENT OF MONGOLIA PARTIALLY VETOES PARLIAMENTARY RESOLUTION ON THE IMPLEMENTATION OF “GOLD-3” NATIONAL CAMPAIGN WWW.MONTSAME.MN PUBLISHED:2025/07/29      ГАНГИЙН ЭРСДЛИЙН ҮНЭЛГЭЭГЭЭР ТАВАН АЙМАГ ЭРСДЭЛ ИХТЭЙ ГАРЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/07/30     МОНГОЛЫН КОКСЖИХ НҮҮРСНИЙ ҮНЭ ХЯТАДЫН БООМТУУДАД ДАХИН ӨСЛӨӨ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/07/30     НИЙСЛЭЛД ХЭРЭГЖҮҮЛЖ БУЙ МЕГА ТӨСЛҮҮДЭД ХАМТРАН АЖИЛЛАХААР САНАЛ СОЛИЛЦЛОО WWW.ITOIM.MN НИЙТЭЛСЭН:2025/07/30     ОХУ-ЫН ШАТАХУУН ЭКСПОРТЫН ХОРИГ МОНГОЛ УЛСАД ҮЙЛЧЛЭХГҮЙ WWW.NEWS.MN НИЙТЭЛСЭН:2025/07/30     ЕРӨНХИЙ САЙДЫН АХЛАХ ЗӨВЛӨХӨӨРӨӨ Б.ДАВААДАЛАЙГ ТОМИЛЖЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/07/30     НИЙТИЙН ЭЗЭМШЛИЙН 50 БАЙРШИЛД ТӨЛБӨРТЭЙ ЗОГСООЛ БАЙГУУЛЖ, ТОХИЖИЛТ ХИЙГДЭЖ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/07/30     “MONGOLZ” БАГ УКРАИНЫ “NATUS VINCERE” БАГТАЙ БААСАН ГАРАГТ ТОГЛОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/07/30     МӨРӨН НИСЭХ БУУДАЛ АНХ УДАА ОЛОН УЛСЫН НИСЛЭГ ХҮЛЭЭН АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/07/29     ХОТЫН ДАРГА Х.НЯМБААТАР БЭЭЖИН ХОТЫН ДАРГА ИН ЮНТАЙ УУЛЗАВ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/07/29     ЧИНГИС ХААН БАНКНЫ ӨР ТӨЛБӨРТ ХӨРӨНГӨ АВАХААР БОЛЛОО WWW.ITOIM.MN НИЙТЭЛСЭН:2025/07/29    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

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NY stocks down amid concern over European banks www3.nhk.or.jp

Stock prices in New York fell on Monday following sharp drops in European markets amid concern over the outlook for some banks there.
 
On the New York Stock Exchange, investors turned risk-averse and sold shares after European markets ended lower.
 
The Dow Jones Industrial Average ended the day at 18,094, down 166 points from last week.
 
The US Justice Department's move to claim a massive settlement from Deutsche Bank, Germany's biggest lender, led to drops in Europe.
 
Market analysts say that investors are worried about European lenders, including Italy's major bank, which is facing a possible capital shortfall.
 
They say investors are also anxious ahead of the first televised US presidential debate between Republican Donald Trump and Democrat Hillary Clinton.
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China buys record North Korean coal as sanctions ignored www.mining.com

It appears that China is interpreting the "people's well-being" as meaning North Korea should be able to export record amounts of coal in defiance of sanctions against the rogue nuclear-armed state.
 
China imported 2.465 million tonnes of coal from North Korea in August, the highest on record, and 61 percent above what was bought in April, the month sanctions were supposed to take effect.
 
Tougher measures were imposed by the United Nations in March aimed at starving North Korea of funds for its nuclear and ballistic missile program. China said at the time it would ban imports of gold and rare earths, as well as coal.
 
While coal imports from North Korea did slip in April to 1.527 million tonnes from March's 2.345 million, they have been steadily trending higher since then to reach August's record.
 
Some exemptions were to be allowed for imports from North Korea for the what was translated as "the people's well-being," or "livelihood purposes."
 
This would appear to be a very broad exemption as other than the brief decline in April, imports of North Korean coal have been rising, allowing the country to once again become China's third-biggest supplier of the fuel behind Australia and Indonesia.
 
China's imports of North Korean coal are up 11.7 percent for the first eight months of the year compared to the same period last year, slightly below the 12.4 percent gain for total coal imports.
 
So far, the big winners among coal exporters to China are Mongolia, with a 50.1 percent year-to-date increase and Indonesia at 18 percent.
 
Top supplier Australia is down 3.6 percent for the first eight months of the year, as higher coking coal exports haven't been enough to offset lower thermal coal shipments.
 
It's difficult to ascertain why China has decided to allow its coal trade with North Korea to continue, and indeed to grow.
 
About 90 percent of Pyongyang's trade is with China, and coal accounts for nearly 40 percent of that in value terms, according to a Sept. 24 report in the Nikkei Asian Review.
 
This means coal is an essential lifeline for North Korea, and it also means China has an extremely powerful hold over its neighbor, should it choose to exercise it.
 
But it's also likely that the coal trade with North Korea has prospered this year as type of coal supplied by Pyongyang is in high demand.
 
ANTHRACITE IN DEMAND
 
North Korea's exports are almost exclusively anthracite, a high-grade hard coal that Chinese buyers use mainly for steel and ceramic manufacture, as well as for blending with other coal types to burn to generate power.
 
Of China's 17.28 million tonnes of anthracite imports in the first eight months of 2016, North Korea supplied 14.91 million, equivalent to an 86.3 percent share.
 
This is way ahead of the 1.44 million tonnes that number two supplier Russia shipped during the first eight months of the year, and this figure is down 18.3 percent from the same period in 2015.
 
Part of the appeal of North Korean coal is no doubt cost, with August's cargoes arriving at $45.55 a tonne, which is well below the $70.25 that Russian anthracite cost.
 
Australian cargoes are also more expensive, with coking coal used in steel-making arriving in August at $93.92 a tonne, and bituminous coal, used in power plants, costing $52.76.
 
North Korean coal is thus attractive to Chinese buyers, especially in the light of Beijing's largely successful efforts to curb output this year.
 
In fact, China may have been too successful in lowering domestic coal production, last week allowing 74 major miners to increase output of thermal coal, Reuters reported on Sept. 23.
 
It appears that China's domestic coking coal miners have so far been unsuccessful in their efforts to get permission to boost output in order to lower prices, which have surged this year amid a tighter market.
 
Australian premium hard coking coal has jumped 164 percent to end last week at $206.40 a tonne, providing a bonanza for major miners like BHP Billiton, which together with partner Mitsubishi is the largest exporter of the fuel.
 
The higher coal prices, and the relative cost advantage enjoyed by North Korea, makes it unlikely that Beijing is about to effectively implement sanctions against Pyongyang.
 
Of course, nothing is certain in politics, but in the absence of a change in Beijing's policy, it's likely the world's most reclusive state will continue to enjoy its coal lifeline.
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First US shale gas arrives at Ineos plant in Scotland www.bbc.com

The first shipment of US shale gas is arriving in Scotland amid a fierce debate about the future of fracking in the UK.
A tanker carrying 27,500m3 of ethane from US shale fields is due to dock at Grangemouth, the refinery and petrochemicals plant owned by Ineos.
The company said the gas would replace dwindling North Sea supplies and secure the future of the plant's workforce.
But many politicians and environmental groups have criticised the shipment.
The Scottish government - which has placed a moratorium on all fracking in Scotland while a study into its impact is carried out - said ministers were "unavailable to attend" the arrival of the shale gas shipment.
Jim Ratcliffe, Ineos founder and chairman, said: "This is a hugely important day for Ineos and the UK. Shale gas can help stop the decline of British manufacturing."

The company said the shipment aboard the carrier Ineos Insight was the culmination of a £1.6bn investment resulting in eight tankers forming a "virtual pipeline" between the US and the UK and Norway.
Ineos argues that with the North Sea's supply of ethane dwindling, plus costs, the shipments from the US are the only way of bringing in sufficient gas at low enough prices to maintain its olefins and polymers business at Grangemouth in the face of global competition.
It believes the US shale gas will provide sufficient raw material to run its manufacturing site at full rates, something that has not been possible for many years.
The Grangemouth facility is home to Scotland's only crude oil refinery and produces the bulk of fuels used in Scotland, with the site said to contribute about 3% of Scottish GDP.

The shipment will be delivered to the Grangemouth refinery and petrochemicals plant in central Scotland
It is also home to Europe's biggest ethane tank, which is capable of holding 60,000m3 of gas after it arrives by tanker.
Ineos has said the shale shipments should safeguard the future of Grangemouth's 1,300 workers.
The company has signed 15-year contracts with suppliers to pipe ethane from the shale fields in the US to purpose-built export facilities on the east and Gulf coasts of America.
From there, the gas will be shipped across the Atlantic in a fleet of eight specially-designed Dragon-class ships commissioned by Ineos.
Remains controversial
Ports in Norway, Portugal, and Spain have all received shale gas shipments this year following the lifting of a ban on the export of US oil and gas, but the arrival of the Ineos Insight will be the first to the UK.
Unconventional oil and gas extraction remains controversial in the UK, with the UK Labour Party following Scottish Labour in backing a ban on fracking if it wins the next general election.
Despite pleas from Ineos to embrace shale gas drilling, the Scottish government moratorium on the practice remains in place, in contrast to the pro-fracking stance of the UK government.
The Scottish Parliament voted to support an outright ban on fracking in June after SNP MSPs abstained.

The Scottish government said it had commissioned a series of independent research projects into unconventional oil and gas to examine potential environmental, health and economic impacts to inform its "evidence-led approach" to the issue.
A spokesman said these projects were due to report later this year, with the public consultation taking place during winter 2016-17.
He added: "The moratorium will remain in place throughout this process and the Scottish government will use the results of the consultation to inform its decision on the way forward."
Mary Church, head of campaigns at Friends of the Earth Scotland, said: "It is completely unacceptable to attempt to prop up Ineos's petrochemicals plants on the back of human suffering and environmental destruction across the Atlantic.
"The fact that Scottish public money is tied up in this project is disgraceful.
"Setting aside the devastating local impacts of fracking, the climate consequences of extracting yet more fossil fuels are utterly disastrous."

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Twitter could take many forms, depending on new owner www.reuters.com

With speculation mounting that Twitter Inc (TWTR.N) will soon have a new corporate owner, the 10-year-old social networking service - which has long struggled to define its core purpose -may end up heading in one of several distinctly different directions depending on who ends up paying for it.
 
Companies including Salesforce.com Inc (CRM.N), Walt Disney Co (DIS.N) and Alphabet Inc's (GOOGL.O) Google have shown interest in Twitter, which is working with investment banks to evaluate its options, according to people familiar with the matter.
 
With Salesforce.com, Twitter might turn its focus to customer service communications and mining its database of tweets for business intelligence. Google would likely be most interested in the social and news dimensions of Twitter. Disney, by contrast, might see it as a way to expand the reach of its sports and entertainment programming.
 
It is not clear how quickly Twitter might approach a sale, but it is moving to formalize the process, sources have said. A deal is by no means assured in light of the company's uncertain financial prospects and steep price tag - its market value is more than $16 billion after talk of a sale drove the stock up over the past few days.
 
Twitter Chief Executive Jack Dorsey, speaking at a conference in Washington on Monday, declined to comment on possible sale talks.
 
CORPORATE ROUTE?
 
Salesforce.com, run by CEO Marc Benioff, is focused on cloud-based sales and marketing software; unlike Twitter, its main product is aimed at businesses users, not consumers. Under Salesforce.com, Twitter could become a corporate tool used to power sentiment analysis and nurture customer relationships.
 
Salesforce.com already uses the Twitter "firehose" for its new artificial intelligence platform, Einstein.
 
"It would give them the social graph and a better idea of how social media relates to its customers," said Ryan Holmes, chief executive of Hootsuite, a private technology firm that helps brands and consumers manage their social media accounts.
 
Holmes also said that if Salesforce.com owned all of Twitter's data, it could have better insights into what sort of conversations companies such as airlines or telecom firms might be having with their customers and thereby gain more understanding of their business challenges.
 
But many Twitter users - especially newer ones - are not active tweeters, which over time could limit the value of the data Twitter can provide. Salesforce.com could also likely gain much of the benefit of Twitter's data from licensing its trove of tweets as opposed to buying the whole company.
 
Salesforce.com investors are already spooked by the speculation it could acquire Twitter: its shares are down 6 percent since news of the company's interest flared up last week.
 
GOOGLE AD PLAN
 
Twitter would fit easily with Google's online advertising-driven business model. Ads could be sold across paid search, YouTube, display and mobile on Twitter - while filling a gap for Google, which has struggled with social media.
 
"Google already has the eyeballs with advertisers. Cross-selling to the Twitter inventory could be an amazing play for them," Hootsuite's Holmes said.
 
Google, which has expertise in monitoring its video service YouTube, would know how to deal with the tricky policy issues facing Twitter, such as abusive tweets and censorship.
 
Still, such a tie-up faces potentially fatal regulatory hurdles, analysts said. In Europe, where the company has a bigger share of the search market than in the United States, the company is already facing two antitrust investigations.
 
"Google could help Twitter's user acquisition problem. The unknown is whether regulators in the United States and European Union would allow the transaction," said BTIG analyst Rich Greenfield.
 
Facebook Inc (FB.O), meanwhile, has been trying to replicate Twitter on its own platform and could also face antitrust challenges if it tried to buy the company, Greenfield said. So far Facebook has not been mentioned as a potential buyer, but with its large cash reserves and penchant for surprise moves it cannot be counted out.
 
THE MEDIA PLAY
 
Twitter's foray into live streaming of National Football League games and its presence in news gathering could interest media companies such as Disney, which owns sports channel ESPN.
 
Twitter's presence on mobile devices could help any media company, all of which are struggling to find mobile growth, according to BTIG's Greenfield. No media company has a mobile product with as much reach as Twitter, he noted.
 
"The world of media is shifting to mobile and these newer platforms are becoming the future," Greenfield said.
 
Still, media companies do not have the best track record with social media. News Corp's (NWSA.O) acquisition of MySpace in 2005 ended in disaster. And some question whether the media companies and top personalities that have been so important to Twitter would stick around if a rival media firm were the owner.
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125 Decisions Restraining Investors to be Invalidated www.mongolianbusinessdatabase.com sourced from montsame.mn

The Investors Promotion Working group reported today that 125 decisions restraining investors are going to be rescinded. The working group is headed by the Minister of Justice and Internal Affairs and was established by an order of the Prime Minister. After a through review of existing decisions, the ministry identified 78 decisions from Ministers, 12 decisions from heads of agencies, and 10 decisions from provincial governors for review. The Ministry of Justice and Internal affairs submitted a proposal to immediately invalidate 86 of these decisions and to submit an additional 14 decisions to review by the relevant authorities. Furthermore, decisions inconsistent to general and other laws were identified and invalidated. The proposal to delist these decisions was sent to the Ministry of Mining and Heavy Industry, the Ministry of Road, Transportation, Construction and Urban Development, as well as to the Ministry of Health in official form from the Minister of Justice and Internal Affairs.

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Good tourists to improve China's image abroad www.chinadaily.com.cn

China has launched a program to promote stories of well-behaved outbound Chinese tourists in an effort to improve overseas images of Chinese world travelers.
The search for "Good Chinese Tourists", hosted by the China National Tourism Administration, China's leading online travel agency Ctrip and the country's first national English newspaper China Daily, launched in Beijing on Tuesday.
 
China's tourism industry, which has seen rapid growth, has become an influencing force in the world, Wang Xiaofeng, vice chairman of the China National Tourism Administration said.
 
Statistics show that more than 59 million Chinese took overseas trips in the first half of this year. And it is predicted that the number of outbound travelers will surpass 600 million in the next five years.
 
"The behavior of Chinese [outbound] tourists is one of the important parameters to gauge the national soft power," Wang said, adding that to discover and praise good behavior and promote the stories of Chinese tourists could set a shining example for other Chinese tourists.
 
Qu Yingpu, deputy editor-in-chief of China Daily pointed out that tourism is about the transmission of cultural messages in the sense of communication.
 
"Each Chinese outbound tourist's acts will exert intangible influence on China's image in the minds of people in other countries," Qu said.
 
Qu hopes that every selected person in the "Good Chinese Tourists" program could become the ambassador of China and its culture, who can also be the best storyteller of China.
 
"Ctrip pays much attention to what role Chinese outbound tourists can play in spreading civilization and enhancing friendship," said Chen Zhenyu, representative from Ctrip and CEO of Qunar. Ctrip holds 45 percent of the stock of Qunar, another online travel agency.
 
"The Chinese tourists have shown the world their more civilized behaviors," Chen said, by citing an example of a Chinese tourist in Japan collecting garbage.
 
Xiong Jiawen, a frequent traveler, said she believes a good tourist has to think of him or herself as a local, by tasting local delicacies or having home stays, but most importantly, he or she should love the culture as the locals do and contribute his or her part to preserve the scenic attractions.
 
"Travels have taught me to show respect to others' culture. Travel should make us more open-minded rather than selfish. More people should join hands with us to be good tourists and have better travel experiences," Xiong said.
 
The China National Tourism Administration started the campaign "Good Chinese Tourists" in 2015.
 
The administration is expected to cooperate with large travel agencies and the media in search for good examples of Chinese outbound tourists this year.
 
Through different channels published by the administration, the public can also recommend good examples that could be promoted on mainstream media.
 
A survey will also be launched to solicit opinions on the behavior and images of Chinese tourists. The survey will target outbound Chinese tourists and permanent residents of overseas destinations that Chinese tourists visit.
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Colombia peace deal: Historic agreement is signed www.bbc.com

The Colombian government and left-wing Farc rebels have signed a historic agreement that formally brings an end to 52 years of civil war.
The rebel leader Timoleon Jimenez, known as Timochenko, apologised to "all the victims of the conflict" and was greeted by cheers and applause.
He said: "I would like to ask for forgiveness for all the pain that we have caused during this war."
Guests dressed in white at the ceremony in Cartagena, to symbolise peace.
The last of the major Cold War conflicts killed 260,000 people and left six million internally displaced.
President Juan Manuel Santos said: "Colombia celebrates, the planet celebrates because there is one less war in the world.
We will achieve any goal, overcome any hurdle and turn our nation into a country we've always dreamed of - a country in peace."
Timochenko said the Farc, which began as the armed wing of the Communist Party in 1964, is leaving armed conflict behind and moving in to peaceful politics.
"We are being reborn to launch a new era of reconciliation and of building peace," he said.
"Let us all be prepared to disarm our hearts."
The president and Timochenko used a pen made from a bullet to sign the deal.
 
 
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PM receives World Bank and EBRD officials www.news.mn

Prime Minister J.Erdenebat received Bert Hoffman, Country Director for Mongolia of World Bank yesterday (26th of September). At the meeting they discussed Mongolian-World Bank cooperation and the implementation of projects and programmes to improve Mongolian economy growth. In 2016, the 25th anniversary of Mongolia’s membership in the World Bank is being celebrated.

PM J.Erdenebat also met Philip Bennett, First Vice President at the European Bank for Reconstruction and Development (EBRD). They discussed the Bank’s upcoming strategy for investing in Mongolia, the EBRD’s current work and the pipeline of potential projects.

Philip Bennett is visiting Mongolia to mark the 10th anniversary of EBRD investment in the country. Since the start of its operations in 2006, the EBRD has invested €1.4 billion in the country, almost entirely in private sector development. The EBRD is currently considering broadening its scope of investment to the municipal and transport infrastructure sectors.

During his visit, Mr Bennett is also expected to sign the contract for the EBRD’s second wind farm project in the country. The wind farm, to be located in Tsetsii, will be co-financed by the Japan International Cooperation Agency (JICA) and built by a joint venture between Mongolia’s Newcom and Japan’s SoftBank.

This will be Mr Bennett’s second visit to Mongolia as the EBRD’s First Vice President. He also visited the country a number of times before joining the bank.

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Sainsbury's one-hour delivery service takes on Amazon www.theguardian.com

Sainsbury’s is to fight back against Amazon with a one-hour grocery delivery service in London.
 
The supermarket, which recently bought Argos as part of its efforts to see off the American online retail specialist, has developed an app called Chop Chop, through which shoppers can order up to 20 items to be delivered from a local store within an hour.
 
Since June, Sainsbury’s has been testing the service in Wandsworth, south London, with groceries delivered Deliveroo-style using bicycles. It is now being extended across south-west and central London areas including Chelsea, Westminster, Fulham, Battersea, Southwark, Wandsworth and Wimbledon.
 
The supermarket first offered a delivery service by bicycle more than 130 years ago, but the latest effort is part of its bid to fight back against the encroachment of a very modern phenomenon.
 
Amazon began offering frozen and chilled foods via its Prime Now one-hour delivery service in Birmingham nearly a year ago, and now offers fruit and vegetables for one-hour delivery in a number of cities including London, Glasgow, Manchester and Liverpool.
 
In June, Amazon launched its Fresh grocery delivery service, which offers fresh fruit, vegetables and meat as well as other kitchen cupboard staples, in London and Surrey. It kicked off the service after Morrisons agreed to supply Amazon with groceries.
 
The arrival of Amazon has prompted the major supermarkets to up their game by trialling new delivery services.
 
Sainsbury’s is also testing a same-day delivery service in Streatham and Richmond in London, and Brookwood in Surrey. Customers who order by 12 noon can get their shopping delivered within six hours. Tesco is also trialling same-day delivery in a few locations.
 
Sainsbury’s said it had recruited a team of 40 cyclists and grocery pickers, all direct employees, to support its one-hour delivery service.
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Bad news for stocks if Trump wins debate www.cnn.com

Expect stocks to tumble if Donald Trump has a great first debate night.
Wall Street doesn't want a President Trump (with the exception of a few hedge fund managers and Trump supporters, like Carl Icahn). As the old saying goes, the market loves good news, it can deal with bad news, but it hates uncertainty. And Trump is the motherlode of uncertainty.
"The typical investor just can't contemplate the possibility of a Trump victory," says Cary Leahey, chief U.S. economist at

As polls tighten -- CNN now calls it a "dead heat" -- Wall Street is having to come to terms that the possibility of a President Trump is real...and rising. With the debate looming on Monday, the Dow fell 167 points.
A strong debate performance by Trump on Monday will exacerbate those worries.
"If for some reason Trump puts on a presidential showing...and Clinton stumbles for whatever reason, then the market may take another reassessment," says Leahey. That's the polite way of saying, stocks are likely to fall.
The reality is stocks are already pretty pricey. They aren't at bubble level, says Tim Anderson, managing director of MND Partners. But with the economy stalling at ho-hum growth of 1% to 2% and companies expected to have a sixth quarter of falling earnings, investors are hitting the "pause" button.
Brexit and the U.S. presidential race only add to the hesitation.

Are we in for another Brexit vote? Traders are starting to wonder. Consider what happened in the lead up to Brexit: few thought it would happen until polls began to tighten shortly before the election. Stocks in the U.K. and Europe -- and even around the world -- began to zig and zag up and down as sentiment shifted. Then markets plummeted (albiet only for a few days) are Brexit.
"I think this one needs a fat lady singing," says economist Diane Swonk of DS Economics. Uncertainty will reign "until we know the outcome of the election and who's going to be in key post."
In a new report out this week, Wells Farg (WFC)puts the probability of a Clinton win at only 50%. The bank says that would be "neutral" or "slightly positive" for investors. In contrast, a Trump victory would be "negative" or "slightly negative."
Many Wall Street banks have reached a similar conclusion: Clinton would be better for the economy and market.
"Markets, in general, are apt to do better under a Clinton Administration," said UBS in late August.
Related: Here's how the 'king of debt' plans to balance the budget
Trump wants to impose a massive tax cut and scale back regulations, which the business community likes. But he also wants to restrict trade and immigration, and his policies could add significantly to the debt. Investors fear this could lead to a trade war -- and even a recession. They also don't know how to deal with his unpredictability.
"It remains impossible to know what Mr. Trump really wants." " wrote Stefan Kreuzkamp, chief investment officer at Deutsche Bank, in a recent report.
For now, U.S. stock indices are close to record levels and U.S. government bond yields are very low. Investors appear to be pricing in a Clinton win. If Trump continues to surge, investors will have to figure out just how scared of Trump they really are.

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