The analysis of the first free quotations of the State Securities on KASE at August 03

/IRBIS, 04.08.99/ - As it was informed earlier by the IRBIS agency, since August 02 in the KASE's SS (State Securities) sector the interdiction of the direct transactions came into the force. All transactions for the Kazakhstan SS henceforth will consist by the basic KASE's trade method of counter double auction. The results of the first day of the "free trade" have shown that the trade participants have preferred to refrain from the free quoting. But free quotations were present in the trade system during this session. Total volume of the SS offer (excluding the fillings, satisfied during the trade) has amounted to KZT316,9 m. Mainly MEKABM-3 of issues #7, 9-14 (23-72 days till repayment) were offered for sale. The offer prices varied from $98.65 to $99.76 for 1 share (at the average weighted exchange rate 131,83 tenge per dollar), that corresponds to the annual yield of repayment 3,75-6,91%. The average weighted effective rate of the offered MEKABM-3 has made 6,47% per year, but there was no demand at this day. Only the notes of 321-st issue (9 days till the repayment) were offered among the non-indexed securities. The annual rate of the offer (KZT 29,9 m) was 7,29%, of the demand (KZT59,8 m) - 12,17-12,98%. Finally one transaction for KZT49,9 m with 9,73% per year was made.