/IRBIS, October 6, 03/ - Today the next morning trades in U.S. dollar were held at Kazakhstan Stock Exchange (KASE) on TOD payment term. Following are main parameters of the trade and comparison with corresponding indicators of previous morning session.

Table of trade results (tenge per dollar, th. dollars)

--------------------------------------------------------------------
Indicator                                              Value   Trend
----------------------------------------------------  ------  ------
Rate of the first deal                                148.00       0
Maximum rate                                          148.50   -0.40
Volume at maximum price                                    5       0
Minimum rate                                          148.00       0
Volume at minimum price                                    5       0
Rate of the last deal                                 148.41   -0.13
----------------------------------------------------  ------  ------
Weighted average rate                                 148.43   -0.07
Volume of the session                                 10,885  +5,715
----------------------------------------------------  ------  ------
Number of deals                                          119     +26
Number of participants                                    17      -2
Best demand at KASE at closing                        148.40   -0.13
Best offer at KASE at closing                         148.41   -0.13
----------------------------------------------------  ------  ------
Best demand at 11:00 out of stock exchange (REUTERS)  148.34   -0.14
Best offer at 11:00 at stock exchange (REUTERS)       148.44   -0.14
--------------------------------------------------------------------

Table of trade price levels

---------------------------------------
                             Time (ALT)
                           ------------
Price   Volume,    Number  -----  -----
level    m. USD  of deals   from     to
------  -------  --------  -----  -----
148.50        5         1  10:15  10:15
148.48      155         3  10:25  10:25
148.47      945        11  10:22  10:38
148.46      630        10  10:21  10:40
148.45      990        18  10:20  10:46
148.44    1,985        33  10:20  10:50
148.43    1,100        10  10:50  10:53
148.42    1,250         3  10:53  10:53
148.41    1,915        21  10:53  10:59
148.40    1,905         8  10:54  10:59
148.50        5         1  10:15  10:15
------  -------  --------  -----  -----
TOTAL    10,885       119  10:15  10:59
---------------------------------------

Market's conjuncture was determined by dollar offer volume today, which has significantly increased relative to Friday. Judging on the main seller of USD, exporters' currency proceeds is more and more felt at the floor. However not all banks, which specialize in their servicing, were selling today. The peculiarity, which was observed on Friday, - unusual high activity of some medium banks - was present at the past trades.

In the first half of the session the market demonstrated approximate parity between demand and offer, working within 148.45 - 148.48. However as the trade became more active, sellers took initiative and managed to pull the market gradually down to 148.41.

It should be noted that traders were selling currency accurately, with small lots, trying to turn the market up. But the big volume of compulsory client bids for sale did not let them do it. Speculative component was absent in traders' behavior.

Most probably, the market will remain stable regarding price till the end of the day. The significant signals for further strengthening of tenge are absent though quotations of repo "overnight" tend to growing.

At closing of the morning session out of stock exchange dollar was at KZT148.36/46, one hour and a half later - 148.37/49. At the day trades of KASE at 12:30 p.m. dollar was at 148.42/45, the last deal was made at 148.43.

[2003-10-06]