Overview of KASE's GS Market in October 2026
/KASE, November 02, 2026/ – Kazakhstan Stock Exchange (KASE) presents a brief overview of the government securities (GS) market based on the results of October 2026.
As of the end of October 2026, the Government Securities sector of KASE contained 97 issues of bonds of the Ministry of Finance of the Republic of Kazakhstan, including 84 issues of MEKAM and 13 issues of Eurobonds, 4 issues of notes of the National Bank of the Republic of Kazakhstan, 374 issues of bonds of local executive bodies and 64 issues of bonds of foreign states.
Based on results of October, the total GS trading volume on KASE amounted to KZT678.2 bn ($1.5 bn), a decrease of 50.7 %, or KZT697.9 bn, compared to September. The average daily trading volume was KZT32.3 bn (6.3 bn KZT – on the secondary market), the average daily number of transactions was 27 (23 – on the secondary market), and the average transaction value was KZT1.2 bn KZT0.3 bn – on the secondary market).
In October, 86 transactions were concluded on the primary market for a total of KZT546.8 bn ($1.2 bn), which is 40.6 %, or KZT373.4 bn, lower than the previous month:
--------------------------------------------------------------------------------------------------------------------
Trading volume, Trading volume, Bid Average Current maturity,
Date of offering Trade code ISIN bn KZT USD mln to ask weighted yield, % years
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
06.10.2026 MOM048_0056 KZK200000760 42.2 92.8 х3.8 14.85% 2.8
MUM072_0016 KZKD00001319 45.6 100.1 х2.2 14.10% 5.3
MUM156_0008 KZKD00001293 58.5 128.5 х2.2 13.89% 11.6
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
07.10.2026 TKK022_320 KZMJ00003200 2.0 4.5 100 % 4.23% 1.5
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
13.10.2026 MOM060_0056 KZK200000786 44.6 98.9 х3.1 14.00% 4.7
MUM096_0016 KZKD00001327 46.8 103.6 163.8% 13.90% 7.4
MUM180_0009 KZKD00000717 37.0 82.1 х2.3 15.25% 2.2
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
14.10.2026 JTK084_431 KZMJ00004315 5.2 11.6 100 % 12.70% 7.0
JTK120_432 KZMJ00004323 1.7 3.9 100 % 12.70% 10.0
SHK084_029 KZSJ00000291 0.2 0.5 100 % 12.70% 7.0
SHK120_030 KZSJ00000309 0.1 0.2 100 % 12.70% 10.0
TKK060_433 KZMJ00004331 0.1 0.3 100 % 12.70% 5.0
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
16.10.2026 TKK024_430 KZMJ00004307 2.0 4.4 100 % 0.35% 2.0
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
20.10.2026 MOM048_0056 KZK200000760 54.0 119.4 х3.4 14.72% 2.8
MTC084_0001 KZKF00000038 38.3 84.6 х2.1 17.57% 6.6
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
27.10.2026 MOM060_0054 KZK200000737 36.6 81.2 х3.3 15.53% 1.1
MTC048_0002 KZKF00000020 62.5 138.6 х2.6 17.32% 3.5
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
30.10.2026 ABK024_330 KZMJ00003309 1.0 2.2 100 % 0.35% 1.6
ABK046_445 KZMJ00004455 15.1 33.2 100 % 14.35% 3.8
ABK084_444 KZMJ00004448 0.2 0.5 100 % 12.79% 7.0
ABK084_446 KZMJ00004463 7.7 17.1 100 % 12.79% 7.0
ABK120_443 KZMJ00004430 0.1 0.2 100 % 12.79% 10.0
ABK120_447 KZMJ00004471 2.6 5.7 100 % 12.79% 10.0
AIK046_434 KZMJ00004349 9.4 20.6 100 % 14.35% 3.8
AIK046_435 KZMJ00004356 2.6 5.7 100 % 16.37% 3.8
ASK060_023 KZZJ00000235 0.1 0.2 100 % 12.79% 5.0
ATK046_440 KZMJ00004406 8.9 19.6 100 % 14.35% 3.8
ATK084_438 KZMJ00004380 1.8 3.9 100 % 12.79% 7.0
ATK120_439 KZMJ00004398 0.6 1.3 100 % 12.79% 10.0
JTK046_442 KZMJ00004422 4.8 10.5 100 % 14.35% 3.8
MGK084_448 KZMJ00004489 3.8 8.4 100 % 12.79% 7.0
MGK120_449 KZMJ00004497 1.3 2.8 100 % 12.79% 10.0
SKK046_441 KZMJ00004414 0.8 1.8 100 % 14.35% 3.8
UTK046_437 KZMJ00004372 0.5 1.1 100 % 16.37% 3.8
ZKK046_436 KZMJ00004364 8.0 17.7 100 % 16.37% 3.8
---------------- ----------- ------------ --------------- --------------- ------ ----------------- -----------------
TOTAL 546.8 1,207.7
--------------------------------------------------------------------------------------------------------------------
In October, 488 transactions were concluded on the secondary market for a total of KZT131.4 bn ($290.7 mln), which is 71.2 %, or KZT324.5 bn, lower than the previous month.
In terms of the main categories of investors on the secondary market, banks accounted for 43.5 %, broker-dealer organizations – for 0.5 %, other institutional investors – for 25.9 %, other legal entities – for 29.4 %, and individuals – for 0.6 %. Non-resident participation in trading on the secondary government securities market amounted to 14.8 %.
As of the end of October, GS indices demonstrated the following changes:
--------------------------------------------------------------------
Change
Value per month,
as of 31.10.26 KZT / b.p.
------------------------------------------ -------------- ----------
"Clean" price indices, KZT
--------------------------------------------------------------------
KZGB_CPs with maturity of up to 1 year 1,277.82 +11.50
KZGB_CPm with maturity of 1 to 5 years 1,007.06 +9.73
KZGB_CPl with maturity of over 5 years 861.49 +8.30
KZGB_CPm1m with maturity of 31 days and up 972.75 +9.05
KZGB_CP without segmentation term 1,003.46 +9.35
--------------------------------------------------------------------
"Dirty" price indices, KZT
--------------------------------------------------------------------
KZGB_DPs with maturity of up to 1 year 1,668.02 +21.11
KZGB_DPm with maturity of 1 to 5 years 1,430.63 +26.33
KZGB_DPl with maturity of over 5 years 1,278.30 +24.14
KZGB_DPm1m with maturity of 31 days and up 1,348.08 +24.15
KZGB_DP without segmentation term 1,315.92 +23.18
--------------------------------------------------------------------
Yield indices, %
--------------------------------------------------------------------
KZGB_Ys with maturity of up to 1 year 15.14 -0.61
KZGB_Ym with maturity of 1 to 5 years 14.43 -0.44
KZGB_Yl with maturity of over 5 years 13.89 -0.16
KZGB_Ym1m with maturity of 31 days and up 14.37 -0.27
KZGB_Y without segmentation term 14.36 -0.29
--------------------------------------------------------------------
[2026-11-02]