Results of trades in US dollar in the morning (main) session of KASE on January 26

/IRBIS, Sergey Yakovlev, Andrey Tsalyuk, January 26, 07/ - Today the next morning trades in U.S. dollar in TOD payment terms were held on Kazakhstan stock exchange (KASE). The main parameters of the trade and comparison with corresponding indicators of previous morning session are given below. Table of trade results (tenge per dollar, th. dollars) ---------------------------------------------------------------------- Indicator Value Trend ---------------------------------------------------- ------- ------- Rate of the first deal 125.50 +0.50 Maximum rate 126.50 +0.51 Volume at maximum price 5 0 Minimum rate 125.50 +0.50 Volume at minimum price 5 0 Rate of the last deal 126.22 +0.30 ---------------------------------------------------- ------- ------- Weighted average rate 126.23 +0.48 Volume of the session 110,025 -1,295 ---------------------------------------------------- ------- ------- Net-turnover 77,360 +1,015 Number of deals 140 -58 Number of participants 19 -2 Volume of unsatisfied offer* 43,500 +37,905 Volume of unsatisfied demand* 24,400 -535 Best demand on KASE at closing 126.22 +0.30 Best offer on KASE at closing 126.25 +0.26 ---------------------------------------------------- ------- ------- Best demand at 11:00 out of stock exchange (REUTERS) 126.12 +0.48 Best offer at 11:00 out of stock exchange (REUTERS) 126.23 +0.54 ---------------------------------------------------------------------- * volume of corresponding active bids of STB in the trade system at closing of the trade Table of trade price levels ----------------------------------------- Time (ALT) Price Volume. Number of ------------ level th.. USD deals from to ------ -------- --------- ----- ----- 126.50 5 1 10:18 10:18 126.35 1,000 1 10:20 10:20 126.30 1,000 1 10:20 10:20 126.28 2,600 3 10:28 10:29 126.27 2,105 5 10:28 10:30 126.26 8,750 10 10:20 10:31 126.25 53,300 59 10:20 10:51 126.24 12,900 14 10:23 10:59 126.23 5,505 7 10:24 10:59 126.22 4,295 9 10:24 10:59 126.21 400 3 10:34 10:34 126.20 2,000 4 10:34 10:43 126.18 50 1 10:40 10:40 126.17 50 1 10:40 10:40 126.16 505 2 10:40 10:40 126.15 7,000 8 10:35 10:39 126.13 350 3 10:36 10:38 126.12 4,705 5 10:18 10:36 126.10 3,500 2 10:36 10:37 125.50 5 1 10:15 10:15 ------ -------- --------- ----- ----- TOTAL 110,025 140 10:15 10:59 ----------------------------------------- The market continued today the move upward, which had become the consequence of high demand for dollar from the side of almost all leading operators. However the disposition of banks on KASE and dynamics of prices of deals in the frames of the session did not show the simple orientation of market for dollar strengthening. Rate of it had rapidly going up only in the initial stage of trade with minimal volumes. Further it had caused the growth of volume of supply of USD and stabilization of its price in the area 126.20. News of yesterday forced the analysts of IRBIS to reconsider their relation to the last short-term tendency of growth of rate of American currency. It is obvious that this movement represents not so much a technical correction after rally of the first half of January, but reaction of banks on intention of agency of Republic of Kazakhstan of regulating and supervision over financial market and organizations (AFS) to introduce since March 1 new limitations on foreign borrowings of home credit organizations. At that the limitations now will concern middle and long loans. The planning innovations force banks again reconsider their strategy of funding for servicing of the existing dollar debt and lengthen its currency position for purchasing USD on the local market. It follows that the observed movements of the market upward has more deep foundation then just liquidation of speculative re-selling of dollar. It can exceed the limits of correction and if not to turn the market, but anyhow stabilize it in subhorizontal price channel. The last seems now the most probable, because it is not observing the simple prevalence of demand over supply from the side of STB and their clients. Results of technical analysis show the actuality of USD rate growth on the day market. But with more probability it can be supposed that the further growth may not happen because the market in the finishing stage of main session had met the enough capacious volume of supply. Based upon it the analysts of IRBIS expect till the end of day the position trade of dollar in the price range between rates 126.20 and 126.40. At the day trades of KASE at 12:53 p.m. dollar was quoted at 126.28/33, the last deal was made at 126.28. The volume of transactions reached $20.1 m. On over-the-counter market at the pointed time the dollar was quoted at 126.21/27. [2007-01-26]