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🗞️Top Highlights from October

👥 Faction vs Faction: MPP Rift Turns Into Full Scale Power Fight 🇲🇳

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Ard Securities
November 04, 2025

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Welcome to a New Month! 👋🏻 October was one of the most politically turbulent months Mongolia has seen in recent years Cabinet reshuffles, constitutional disputes, and leadership challenges kept the entire nation watching closely. As the political dust begins to settle and we enter a new month, the question remains:

Have you stayed on track with your financial goals despite the uncertainty?

If not, now is the perfect time to refocus and we are ready to offer you one of the most competitive, high-yield investment opportunities in the market. 📈💰

📰 Today’s Edition Features the Following Headlines:

  • 🏦 Khan Bank Becomes First Mongolian Company Added to FTSE Frontier Index 🇲🇳

  •  👥 Faction vs Faction: MPP Rift Turns Into Full-Scale Power Fight 🇲🇳

  • 🇲🇳 First Private Sector Power Plant Deal Signed as Mongolia Expands Electricity Capacity⚡

Delivering key insights from the stock markets and the economy. 🤗

As of October 2025, the S&P 500 index had risen by 1.85%, while the Nasdaq 100 posted a 3.98% increase. In contrast, Bitcoin declined by 15.08%, and ArdCoin also fell by 10.13%.

A total of ₮17 billion worth of trades were executed on the Mongolian Stock Exchange, of which ₮357 million or 2.1% was contributed by Ard’s publicly listed companies.

📊 Stock Market News: 🏦 Khan Bank Becomes First Mongolian Company Added to FTSE Frontier Index 🇲🇳

🤔 What happened? Khan Bank JSC has become the first Mongolian company ever to be included in the FTSE Russell Frontier Market Index. The bank was added to the Large/Mid Cap segment, following the index review announced last month.

📊 What it means: Inclusion in the FTSE Russell index places Khan Bank alongside 373 companies from 30 frontier market countries such as Kazakhstan, Pakistan, and Vietnam.

This strengthens Mongolia’s visibility among global institutional investors and signals improved market credibility, liquidity, and governance standards.

💡 What else?

  • Khan Bank is listed on the Mongolian Stock Exchange (Tier I) and became eligible after meeting free float, liquidity, and disclosure requirements.

  • Mongolia officially entered the FTSE Frontier Market classification in 2021, and this is the first time a Mongolian issuer has been added to the investable universe.

  • The move is expected to attract passive and active inflows from funds that track FTSE benchmarks.

👀 Finally… This milestone is considered a breakthrough for Mongolia’s capital market, potentially opening the door for more local issuers to enter international indices boosting foreign investor confidence and long-term market depth.

🔙 THE MONTH IN REVIEW

🔥  HOT NEWS: 👥 Faction vs Faction: MPP Rift Turns Into Full-Scale Power Fight 🇲🇳

🤔 What happened? Mongolia experienced one of its most turbulent political months in recent years. Tensions escalated simultaneously within both the Cabinet and Parliament, as attempts were made to dismiss Prime Minister G. Zandanshatar and Speaker of Parliament D. Amarbayasgalan. After multiple votes, a presidential veto, and a marathon review by the Constitutional Court, the situation evolved from a political dispute into a full scale institutional confrontation.

📊 What it means: The events revealed deep factional divisions inside the ruling MPP and raised concerns about balance of power, constitutional interpretation, and the relationship between the legislative and executive branches.

Parliament initially voted to dismiss the Prime Minister, but President Khurelsukh vetoed the decision, claiming it violated constitutional procedure. The Constitutional Court later overturned the veto, ruling the dismissal lawful.

Meanwhile, Deputy Prime Minister S. Amarsaikhan was removed for breaching his responsibility agreement, further exposing instability within the Cabinet.

💡 What else happened…

  • The political conflict traces back to youth led protests in June that triggered the previous Cabinet’s resignation.

  • Two opposing factions within the MPP became visible: the Zandanshatar bloc vs. the Amarbayasgalan bloc.

  • Ahead of the MPP Congress, internal disputes escalated members were expelled, sessions were boycotted, and voting procedures were contested.

  • The Prime Minister declassified $4.3B worth of coal export contracts (38 agreements), putting pressure on major conglomerates such as MCS Group and Bodi International.

  • Markets did not crash, but investor sentiment weakened due to heightened political uncertainty.

👀 Finally… Mongolia avoided a full constitutional crisis, yet political fragmentation inside the ruling party remains unresolved. As the 2026 election approaches, the government now faces the challenge of restoring public trust, ensuring legal clarity, and maintaining policy stability.

Despite all the conflict and attempts to remove him, G. Zandanshatar ultimately remains in office as Prime Minister.

📈 Economic News: 🇲🇳 First Private Sector Power Plant Deal Signed as Mongolia Expands Electricity Capacity ⚡

🤔 What happened? Mongolia moved forward with two major energy projects: the first unit of a new thermal power plant was connected to the national grid last December, and the second unit has now completed construction and is ready for testing, with the full plant expected to generate enough electricity to power around 963,000 households. In addition, the government signed an agreement to build the country’s Fifth Thermal Power Plant, the first large-scale energy project in 42 years to be developed with significant private-sector participation.

📊 What it means: Once operational, the new plant will produce 2.4 terawatt-hours (TWh) of electricity per year, helping Mongolia reduce its heavy dependence on imported power, which currently makes up 24.7% of national consumption. With electricity demand growing 5–6% annually due to rapid economic and urban expansion, the Fifth Thermal Power Plant represents a notable shift toward public-private partnership, as 80% of the financing will come from private investors and 20% from Ulaanbaatar city’s budget.

💡 What else? Mongolia’s domestic electricity generation grew 2.7% this year, but imports still rose 17%, highlighting the urgent need for new capacity.

  • Once operational, the new Fifth Plant will supply heat and electricity to 400,000+ households in western Ulaanbaatar and support over 100,000 households in surrounding districts.

  • The project is expected to create 1,600 construction jobs and later 369 permanent jobs.

👀 But in the end, it remains… Mongolia is taking decisive steps toward energy independence, but the country still faces structural challenges: high import dependence, rising consumption, and the need for long-term investment in renewables. Whether the new projects will fully resolve capacity gaps depends on execution, financing, and future policy continuity.

World economic and Stock market News in 5 minutes

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