Overview of KASE's GS Market in April 2026
/KASE, May 5, 2026/ – Kazakhstan Stock Exchange (KASE) presents a brief overview of the government securities (GS) market based on the results of April 2026.
As of the end of April 2026, the "Government Securities" sector of KASE contained 106 issues of bonds of the Ministry of Finance of the Republic of Kazakhstan, including 91 issues of MEKAM and 15 issues of Eurobonds, 4 issues of notes of the National Bank of the Republic of Kazakhstan, 266 issues of bonds of local executive bodies and 56 issues of bonds of foreign states.
At the end of April, the total government securities trading volume on KASE amounted to 964.9 bn tenge ($2.1 bn), an increase of 5.5 %, or 50.6 bn tenge, compared to March. The average daily trading volume was 43.9 bn tenge (13.5 bn tenge – on the secondary market), the average daily number of transactions was 20 (17 – on the secondary market), and the average transaction value was 2.1 bn tenge (0.8 bn tenge – on the secondary market).
In April, 85 transactions were concluded on the primary market for a total of 667.7 bn tenge ($1.4 bn), which is 11.0 %, or 66.3 bn, tenge higher than the previous month:
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Trading volume, Trading volume, mln USD Average Current maturity, years
Offering bn KZT Bid to
ask weighted yield, %
date Trade code ISIN
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
April 1, 2026 AKK024_292 KZMJ00002921 6.2 13.0 100 % 0.35 2.0
DZK024_296 KZMJ00002962 5.0 10.4 100 % 0.35 2.0
UTK024_297 KZMJ00002970 0.7 1.5 100 % 0.35 2.0
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
April 7, 2026 MUM096_0015 KZKD00001301 54.6 117.0 100.8 % 15.08 7.2
MUM156_0006 KZKD00000964 33.5 71.9 198.5 % 15.07 5.1
MUM300_0001 KZKD00000725 15.0 32.3 х3.4 15.07 12.7
ZKK084_303 KZMJ00003036 3.1 6.6 100 % 19.15 7.0
ZKK120_304 KZMJ00003044 1.0 2.2 100 % 19.15 10.0
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
April 13, 2026 ASK060_020 KZZJ00000201 1.9 3.9 100 % 19.15 5.0
ASK120_019 KZZJ00000193 0.6 1.3 100 % 19.15 10.0
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
April 14, 2026 MKM012_0162 KZK100000431 21.6 45.5 86.7 % 17.23 0.8
MUM096_0016 KZKD00001327 61.4 129.4 х6.4 15.24 7.9
MUX072_0003 KZKB00000040 96.0 202.1 х2.3 15.00 5.0
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
April 17, 2026 ASK013_018 KZZJ00000185 5.0 10.6 100 % 4.22 1.1
ASK022_017 KZZJ00000177 15.0 31.8 100 % 4.24 1.8
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
April 21, 2026 MOM060_0054 KZK200000737 71.3 151.8 х3.1 17.00 1.6
MUM096_0016 KZKD00001327 94.2 200.6 х3.5 15.10 7.9
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
April 28, 2026 MKM012_0162 KZK100000431 35.6 77.2 х2.3 17.25 0.8
MTM072_0001 KZKT00000040 70.0 152.0 х3.1 19.15 2.6
MUM300_0001 KZKD00000725 62.9 136.5 х3.7 15.00 12.6
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
April 30, 2026 JTK024_309 KZMJ00003093 1.7 3.6 - 0.35 2.0
KGK084_306 KZMJ00003069 1.1 2.4 - 14.76 7.0
KGK084_308 KZMJ00003085 7.5 16.3 - 14.76 7.0
KGK120_305 KZMJ00003051 2.5 5.4 - 14.76 10.0
KGK120_307 KZMJ00003077 0.4 0.8 - 14.76 10.0
-------------- ----------- ------------ ---------------- ------------------------ ---------- ------------------ ------------------------
TOTAL 667.7 1 426.0
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In terms of the main categories of investors on the primary market, banks accounted for 21.6 %, broker-dealer organizations – for 0.3 %, other institutional investors – for 67.1 %, other legal entities – for 11.0 %, and individuals – for less than 0.1 %. Non-resident participation in trading on the primary government securities market amounted to 2.1 %.
In April, 365 transactions were concluded on the secondary market for a total of 297.1 bn tenge ($633.8 mln), which is 5.0 %, or 15.7 bn tenge, lower than in the previous month.
In terms of the main categories of investors on the secondary market, banks accounted for 40.0 %, broker-dealer organizations – for 0.6 %, other institutional investors – for 4.7 %, other legal entities – for 48.3 %, and individuals – for 6.4 %. Non-resident participation in trading on the secondary government securities market amounted to 38.2 %.
In April, GS indices demonstrated the following changes:
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Change
Value per month,
as of 30.04.26 tenge / b.p.
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"Clean" price indices, tenge
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KZGB_CPs with maturity of up to 1 year 1,217.38 +0.97
KZGB_CPm with maturity of 1 to 5 years 962.69 0.02
KZGB_CPl with maturity of over 5 years 818.83 -1.07
KZGB_CPm1m with maturity of 31 days and up 922.75 -0.87
KZGB_CP without segmentation term 952.81 -0.97
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"Dirty" price indices, tenge
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KZGB_CPs with maturity of up to 1 year 1,544.06 +13.12
KZGB_CPm with maturity of 1 to 5 years 1,302.86 +0.56
KZGB_CPl with maturity of over 5 years 1,158.63 +5.32
KZGB_CPm1m with maturity of 31 days and up 1,210.70 +10.23
KZGB_CP without segmentation term 1,193.66 +3.44
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Yield indices, %
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KZGB_Ys with maturity of up to 1 year 18.32 +1.22
KZGB_Ym with maturity of 1 to 5 years 16.35 +0.17
KZGB_Yl with maturity of over 5 years 15.07 +0.07
KZGB_Ym1m with maturity of 31 days and up 16.05 +0.31
KZGB_Y without segmentation term 16.02 +0.27
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[2026-05-05]