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In January-November 2025, trading volume on KASE made up 352.8 trln tenge ($675.3 bln)
/KASE, December 9, 2025/ – In January-November 2025, the trading volume on Kazakhstan Stock Exchange (KASE) in all market sectors made up 352,830.7 bln tenge (equivalent to 675,269.0 million USD), decreasing by 1.1% compared to the same period in 2024 (by 12.1% in dollar terms).
In comparison with the preceding eleven-month period (February-December) of 2024, the trading volume decreased by 0.1%.
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I-XI, 2025 I-XI, 2024 Trend
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Exchange trading struc- trading struc- in measuring in %
market sector volume ture, % volume ture, % currency
-------------------------- --------- ------- --------- ------- ------------ -------------
in bln tenge
-------------------------- --------- ------- --------- ------- ------------ -------------
Securities market 14,005.6 4.0 12,049.1 3.4 +1,956.5 +16.2
Shares 320.0 0.1 269.2 0.1 +50.8 +18.9
– primary market 36.5 <0.1 49.5 <0.1 -13.0 -26.3
– secondary market 283.5 0.1 219.7 0.1 +63.8 +29.0
KASE Global 154.0 <0.1 33.7 <0.1 +120.2 +356.4
Corporate debt securities 4,984.5 1.4 3,754.8 1.1 +1,229.6 +32.7
– primary market 3,841.6 1.1 3,009.1 0.8 +832.5 +27.7
– secondary market 1,142.9 0.3 745.7 0.2 +397.2 +53.3
GS 8,156.7 2.3 7,729.5 2.2 +427.2 +5.5
– primary market 6,363.7 1.8 6,021.7 1.7 +342.0 +5.7
– secondary market 1,792.9 0.5 1,707.8 0.5 +85.1 +5.0
MFO bonds 366.8 0.1 248.0 0.1 +118.8 +47.9
– primary market 307.0 0.1 219.3 0.1 +87.7 +40.0
– secondary market 59.8 <0.1 28.7 <0.1 +31.1 +108.5
Investment fund securities 15.4 <0.1 11.3 <0.1 +4.1 +36.7
Derivative securities 8.3 <0.1 2.5 <0.1 +5.8 +227.4
Foreign exchange market 44,791.8 12.7 34,086.6 9.6 +10,705.2 +31.4
US dollar 31,506.0 8.9 24,491.6 6.9 +7,014.4 +28.6
Russian ruble 9,306.9 2.6 5,022.6 1.4 +4,284.4 +85.3
Chinese yuan 1,067.4 0.3 472.4 0.1 +595.0 +126.0
euro 692.2 0.2 509.7 0.1 +182.6 +35.8
euro-US dollar 855.0 0.2 973.1 0.3 -118.2 -12.1
US dollar-yuan 1,364.4 0.4 2,611.2 0.7 -1,246.9 -47.8
euro-yuan – – 6.0 <0.1 -6.0 -100.0
Money market 294,025.2 83.3 310,455.8 87.1 -16,430.7 -5.3
Repo operations 221,691.2 62.8 239,827.8 67.3 -18,136.6 -7.6
– nego repo with GS 59.2 <0.1 0.8 <0.1 +58.4 +7,184.6
– auto repo with GS 170,002.3 48.2 176,387.2 49.5 -6,384.8 -3.6
– nego repo with NGS 81.1 <0.1 144.3 <0.1 -63.2 -43.8
– auto repo with NGS 50,246.2 14.2 63,154.2 17.7 -12,908.0 -20.4
– nego repo with GCC – – – – 0 x
– auto repo with GCC 1,302.4 0.4 141.4 <0.1 +1,161.1 +821.3
Currency swap operations 72,333.9 20.5 70,628.0 19.8 +1,706.0 +2.4
– with US dollar 62,584.3 17.7 69,805.5 19.6 -7,221.2 -10.3
– with euro 33.3 <0.1 245.3 0.1 -212.0 -86.4
– with ruble 9,367.0 2.7 490.6 0.1 +8,876.4 +1,809.3
– with yuan 7.3 <0.1 2.6 <0.1 +4.8 +182.9
– with euro-US dollar 342.0 0.1 84.0 <0.1 +257.9 +307.0
Derivatives market 8.1 <0.1 <0.1 <0.1 +8.1 +23,767,631.6
Futures 8.1 <0.1 <0.1 <0.1 +8.1 +23,767,631.6
-------------------------- --------- ------- --------- ------- ------------ -------------
TOTAL trading volume 352,830.7 100.0 356,591.6 100.0 -3,760.9 -1.1
-------------------------- --------- ------- --------- ------- ------------ -------------
in mln US dollars
-------------------------- --------- ------- --------- ------- ------------ -------------
Securities market 26,825.0 4.0 26,031.8 3.4 +793.2 +3.0
Shares 613.5 0.1 581.9 0.1 +31.6 +5.4
– primary market 70.2 <0.1 110.5 <0.1 -40.4 -36.5
– secondary market 543.4 0.1 471.4 0.1 +72.0 +15.3
KASE Global 291.0 <0.1 71.8 <0.1 +219.2 +305.1
Corporate debt securities 9,510.2 1.4 8,029.2 1.0 +1,481.0 +18.4
– primary market 7,331.0 1.1 6,451.1 0.8 +879.9 +13.6
– secondary market 2,179.2 0.3 1,578.1 0.2 +601.1 +38.1
GS 15,653.4 2.3 16,776.5 2.2 -1,123.1 -6.7
– primary market 12,195.7 1.8 13,083.5 1.7 -887.8 -6.8
– secondary market 3,457.7 0.5 3,692.9 0.5 -235.3 -6.4
MFO bonds 711.5 0.1 542.6 0.1 +168.9 +31.1
– primary market 596.8 0.1 481.9 0.1 +114.9 +23.8
– secondary market 114.7 <0.1 60.7 <0.1 +54.0 +88.9
Investment fund securities 29.5 <0.1 24.3 <0.1 +5.2 +21.2
Derivative securities 15.9 <0.1 5.4 <0.1 +10.5 +193.2
Foreign exchange market 85,603.2 12.7 72,952.2 9.5 +12,651.0 +17.3
US dollar 60,266.7 8.9 52,523.4 6.8 +7,743.3 +14.7
Russian ruble 17,746.8 2.6 10,588.1 1.4 +7,158.7 +67.6
Chinese yuan 2,030.8 0.3 1,004.1 0.1 +1,026.8 +102.3
euro 1,330.8 0.2 1,070.3 0.1 +260.5 +24.3
euro-US dollar 1,623.2 0.2 2,070.2 0.3 -447.0 -21.6
US dollar-yuan 2,604.8 0.4 5,683.1 0.7 -3,078.3 -54.2
euro-yuan – – 12.9 <0.1 -12.9 -100.0
Money market 562,825.1 83.3 668,923.9 87.1 -106,098.8 -15.9
Repo operations 424,099.5 62.8 516,564.0 67.3 -92,464.5 -17.9
– nego repo with GS 111.7 0.0 1.7 0.0 +110.0 +6,648.1
– auto repo with GS 325,372.3 48.2 379,182.3 49.4 -53,810.0 -14.2
– nego repo with NGS 155.2 <0.1 308.1 <0.1 -152.9 -49.6
– auto repo with NGS 95,974.1 14.2 136,785.4 17.8 -40,811.4 -29.8
– nego repo with GCC – – – – 0 x
– auto repo with GCC 2,486.2 0.4 286.5 <0.1 +2,199.7 +767.9
Currency swap operations 138,725.6 20.5 152,359.9 19.8 -13,634.3 -8.9
– with US dollar 120,233.7 17.8 150,588.2 19.6 -30,354.5 -20.2
– with euro 66.1 <0.1 520.7 0.1 -454.5 -87.3
– with ruble 17,763.0 2.6 1,074.0 0.1 +16,689.0 +1,553.9
– with yuan 13.8 <0.1 5.3 <0.1 +8.5 +161.6
– with euro-US dollar 648.9 0.1 171.7 <0.1 +477.2 +277.9
Derivatives market 15.6 <0.1 <0.1 <0.1 +15.6 +20,427,757.0
Futures 15.6 <0.1 <0.1 <0.1 +15.6 +20,427,757.0
-------------------------- --------- ------- --------- ------- ------------ -------------
TOTAL trading volume 675,269.0 100.0 767,907.9 100.0 -92,638.9 -12.1
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Notes to the table: GS – government securities; corporate debt securities – non- government debt securities; NGS – non-government securities; nego repo – repo operations carried out directly (with conclusion of direct repo opening and closing transactions); auto repo – repo operations carried out automatically;
"n/t" – no trading held.
The trading volume is calculated using all executed exchange transactions concluded by any trading methods used by KASE.
[2025-12-09]