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Investment attractiveness of debt instruments on KASE in the period of March 20 - 26, 2008
/IRBIS, Valeriy Khegay, March 27, 08/ - Below is the table that allows comparing investment attractiveness of debt financial instruments, which were regularly traded or quoted on Kazakhstan Stock Exchange (KASE) in the period of March 20 - 26, 2008. Trends are given relative to the previous week. Instruments are given in the descending order of earnings yield for a buyer within indicated groups.
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Yield, % APR.
Financial ------------- Coupon, Term,
instrument value trend % APR. years
----------------------- ------ ----- --------- ---------
Non-indexed instruments, denominated in tenge
------------------------------------------------------------ ASBNb6 19.00 0 8.50 1.0 EXBNb1 17.16 +6.08 9.00 5.6 MREKb2 16.00 0 13.00 2.4 TSBNb4 16.00 0 8.00 3.2 ASBNb4 15.00 0 7.00 0.1 aEKTNb1 14.00 0 10.00 3.6 BTAIb1 14.00 +1.01 10.00 2.8 KZIKb11 14.00 0 6.90 7.0 MAG_b1 13.55 +0.02 12.00 1.4 NRBNb4 13.50 0 8.00 0.8 HSBKb9 13.25 +5.53 7.50 7.3 ISKEb1 13.20 - 10.00 5.7 aASFIb8 13.00 0 6.00 3.1 aASFIb9 13.00 0 8.00 13.1 ASFIb8 13.00 0 6.00 3.1 ASFIb9 13.00 0 8.00 13.1 CACMb1 13.00 0 9.00 3.4 RGBRb4 13.00 0 8.00 3.4 TEBNb12 13.00 0 9.00 2.1 TEBNb14 13.00 0 9.50 8.1 TEBNb5 13.00 0 9.75 0.8 TSBNb2 13.00 0 9.00 4.4 aATFBb4 12.63 +0.13 8.50 6.7 aBGSTb1 12.50 0 10.00 4.4 ATFBb3 12.50 +1.00 8.50 0.7 KAZIb2 12.50 0 10.00 3.7 TSBNb3 12.50 0 8.00 0.9 aATFBb3 12.13 +0.13 8.50 0.7 KKI_b1 12.11 +0.03 8.00 2.5 ATFBb4 12.04 +0.04 8.50 6.7 KIBNb3 12.01 0 10.00 2.4 aTSASb1 12.00 0 9.00 3.7 EXBNb2 12.00 +1.02 9.00 4.2 HSBKb7 12.00 0 7.50 6.8 MREKb5 12.00 0 16.00 4.9 NRBNb5 12.00 0 7.50 8.2 TEBNb4 12.00 0 8.00 7.3 TXBNb2 12.00 +0.50 11.00 2.3 KRZHb1 11.99 +0.49 14.00 2.7 ORDKb1 11.99 - 12.00 1.6 aHSBKb7 11.70 0 7.50 6.8 ASBNb5 11.50 0 7.00 0.4 aHSBKb3 11.00 0 9.00 1.2 ALTMb1 11.00 - 12.00 4.6 CCBNb12 11.00 0 9.00 2.8 HSBKb3 11.00 +0.10 9.00 1.2 KAZIb1 11.00 0 10.00 0.9 PRKRb2 11.00 0 8.00 5.0 TSNAb1 10.70 +0.48 9.00 1.2 CSBNb6 10.35 0 8.50 7.1 ALLZb1 10.00 0 9.50 3.4 ZERDb1 10.00 0 10.00 4.8 ASBNb10 9.75 0 9.75 6.6 ASFIb12 9.70 0 7.80 11.0 aASFIb10 9.50 0 7.50 8.5 aASFIb11 9.50 0 7.50 8.5 ASFIb10 9.50 0 7.50 8.5 ASFIb11 9.50 0 7.50 8.5 CCBNb16 9.50 0 8.00 2.1 CCBNb18 9.50 0 13.00 14.7 KASSb1 9.50 0 9.00 2.9 Repo CS* 9.23 +1.40 - 0-1.0 BTAIb10 9.00 0 7.00 1.2 CCBNb17 9.00 0 8.50 4.1 MREKb3 9.00 0 12.00 3.7 MREKb4 9.00 0 12.00 4.1 RGBRb5 9.00 0 8.00 4.6 RGBRb6 9.00 0 8.00 6.6 TEBNb9 9.00 -3.20 9.75 1.2 ASBNb8 8.75 0 8.50 3.8 МЕОКАМ 8.73 +0.47 3.50-8.50 1.8-1.9 BTAIb15 8.70 0 8.00 0.2 ASBNb7 8.50 0 8.50 5.3 BTAIb13 8.50 0 7.00 8.8 BTASb5 8.50 0 7.00 7.8 ULBAb1 8.30 0 8.25 0.8 PRKRb1 8.02 0 8.00 1.1 EUBNb1 8.00 0 6.50 0.7 aHSBKb9 7.72 0 7.50 7.3 BTASb7 7.60 +0.60 7.00 28.3 BTAIb12 7.50 0 7.00 8.4 TSBNb7 7.50 0 7.50 19.3 ASBNb9 7.00 0 8.00 1.9 EUBNb2 7.00 0 7.00 3.7 МЕУКАМ 6.50 +1.00 5.50 8.2 NRBNb6 6.33 -0.01 14.00 6.8 Notes of National Bank* 5.15 -1.03 - 0.01-1.0 KONDb1 4.21 -0.05 8.80 3.7 Repo GS* 3.60 +1.27 - 0.003-0.1 ------------------------------------------------------------
Instruments, indexed on inflation rate
------------------------------------------------------------ VITAb4 19.50 +4.43 11.15 2.1 VITAb5 19.00 +3.05 13.00 5.2 ORNKb1 17.75 0 11.00 2.5 BTAIb4 17.00 0 11.00 2.1 aASFIb4 16.00 0 11.90 3.1 ASFIb4 16.00 0 11.90 3.1 BTAIb5 16.00 0 10.00 7.1 CCBNb7 16.00 0 10.00 7.2 KKAGb3 16.00 0 12.00 5.4 BTAIb6 15.50 0 10.00 2.2 BTASb4 15.50 +0.03 12.00 6.2 KKAGb1 15.50 0 13.00 1.9 ASBNb3 15.33 +0.83 11.40 3.6 aASFIb6 15.00 0 12.50 4.2 aASFIb7 15.00 +1.00 12.50 7.3 ASFIb6 15.00 0 12.50 4.2 ASFIb7 15.00 +0.41 12.50 7.3 BTAIb2 15.00 0 12.50 6.6 BTAIb8 15.00 0 10.00 5.4 GLOTb2 15.00 +8.00 20.20 4.0 aASFIb5 14.50 0 12.50 1.8 ASFIb5 14.50 0 12.50 1.8 SATCb1 14.50 +4.50 12.00 6.8 BTAIb3 14.00 0 14.00 3.7 KZDKb1 14.00 0 11.00 1.9 KZIKb12 14.00 0 7.50 9.0 aELDSb1 13.90 0 11.90 1.1 NFBNb1 13.78 -0.22 10.80 4.5 ORDBb2 13.52 +0.01 11.00 3.6 BTASb3 13.50 0 11.40 5.6 CCBNb6 13.50 0 12.00 6.8 KZIKb2 13.50 +0.10 12.00 5.5 KZIKb6 13.50 0 11.59 3.0 ROSAb2 13.50 0 11.00 3.1 EUBNb4 13.44 +4.44 9.00 6.4 CCBNb3 13.00 -1.80 21.00 2.2 CCBNb4 13.00 +1.00 12.00 3.5 CCBNb8 13.00 0 10.00 7.4 CCBNb9 13.00 0 10.00 7.4 KZIKb3 13.00 0 12.20 6.0 KZIKb4 13.00 +0.17 11.70 6.0 KZIKb5 13.00 0 11.59 1.0 KZIKb7 13.00 0 11.30 3.5 TEBNb10 13.00 0 8.50 8.7 TEBNb17 13.00 0 8.50 9.1 TEBNb6 13.00 0 10.00 4.8 TEBNb7 13.00 0 9.70 7.2 TEBNb8 13.00 0 9.70 4.2 aKZIKb10 12.90 0 5.69 1.9 KZIKb10 12.90 0 5.69 1.9 aATFBb5 12.88 -0.12 9.80 4.2 ATFBb5 12.50 0 9.80 4.2 TSSMb1 12.50 0 11.30 3.0 AKFIb1 12.40 - 10.80 1.0 TXBNb3 11.98 +0.98 11.40 3.6 KIBNb1 11.51 +0.01 11.00 4.7 aATFBb6 11.50 0 10.00 5.9 TSBNb5 11.45 +0.45 10.00 6.3 DNBNb1 11.40 0 10.50 2.8 DNBNb2 11.30 0 11.00 3.0 ASAVb2 11.04 +0.01 9.50 2.1 aCCBNb14 11.00 0 9.80 8.6 aHSBKb4 11.00 0 12.00 2.3 CSBNb5 11.00 0 11.00 3.8 HSBKb12 11.00 0 11.00 9.5 HSBKb4 11.00 0 12.00 2.3 KDTSb1 11.00 0 9.50 4.0 KKGBb4 10.89 +0.39 9.50 7.0 DTJLb1 10.82 -0.18 8.05 20.4 HSBKb8 10.79 +1.09 9.60 7.0 KKGBb6 10.51 0 7.50 9.5 aKZIKb8 10.50 0 11.30 6.5 CCBNb10 10.50 0 9.80 7.5 CSBNb4 10.50 0 10.80 3.2 KARMb2 10.50 0 11.20 0.8 KZIKb8 10.50 0 11.30 6.5 LOGCb1 10.30 0 9.50 2.4 BTAIb7 10.00 0 10.00 4.3 CCBNb11 10.00 0 10.00 7.8 GLOTb1 10.00 0 12.40 0.1 KASTb2 10.00 -1.20 11.00 3.3 TSBNb6 10.00 0 10.00 7.7 aHSBKb8 9.70 0 9.60 7.0 BTLZb1 9.70 0 10.00 0.8 EUBNb3 9.64 +0.14 9.50 5.0 ASAVb1 9.50 0 9.50 1.8 BTAIb11 9.50 0 3.00 8.4 BTAIb14 9.50 0 8.50 6.0 CCBNb13 9.50 0 9.80 8.1 CCBNb14 9.50 0 9.80 8.6 CCBNb15 9.20 -0.28 9.00 9.1 AGKKb1 9.00 -1.01 9.00 4.4 ATFBb6 9.00 -1.60 10.00 5.9 KAFIb1 9.00 0 8.71 3.8 KSMKb1 9.00 0 11.00 4.0 KSMKb2 9.00 0 11.00 4.6 KZIKb16 9.00 -2.49 7.50 8.8 TEBNb11 9.00 0 9.00 13.7 KZASb2 8.70 0 12.00 1.2 aHSBKb11 8.50 0 6.00 8.1 HSBKb11 8.50 0 6.00 8.1 KKAGb2 8.50 0 10.60 3.0 aHSBKb10 8.20 0 6.00 7.6 KASTb1 8.00 0 11.00 3.1 KKGBb5 7.58 -0.01 9.50 7.5 BTAIb9 7.52 0 8.50 7.9 HSBKb10 7.20 0 6.00 7.6 BTTRb1 7.00 -2.50 9.00 11.0 FRMPb1 7.00 0 9.00 2.0 aASFIb14 6.00 0 3.94 1.5 ASFIb14 6.00 0 3.94 1.5 ------------------------------------------------------------
Instruments, indexed on change of tenge rate to USD
------------------------------------------------------------ ASBNb1 31.75 0 9.00 1.7 KKGBb2 23.22 +0.24 8.00 1.7 BTASb1 18.00 +0.72 12.00 0.9 BTASb2 16.50 0 9.00 2.1 NRBNb2 15.00 0 9.00 3.2 TEBNb2 13.00 0 11.00 0.5 ART060.004 8.06 +0.06 8.50 0.1 ------------------------------------------------------------
Instruments, indexed on change of tenge rate to euro
------------------------------------------------------------ aASFIb13 9.00 0 7.88 2.2 ASFIb13 9.00 0 7.88 2.2 ------------------------------------------------------------
Instruments, indexed on devaluation rate of tenge against USD with protection from strengthening of tenge against USD
------------------------------------------------------------ CCBNb2 16.00 -1.86 10.00 1.0 KZNHb2 15.00 0 10.00 1.9 PDESb1 14.00 +4.30 9.00 2.8 TEBNb3 14.00 0 14.00 4.6 KZTCb1 13.29 0 8.00 2.3 TEBNb15 13.00 0 9.50 8.1 TEBNb13 12.64 0 9.00 4.1 aASFIb3 11.00 0 7.00 0.7 ASFIb3 11.00 0 7.00 0.7 CSBNb2 11.00 0 9.50 2.2 CSBNb3 10.00 +0.50 8.75 2.7 TEBNb16 8.50 0 8.50 9.1 KZPSb1 8.00 0 8.00 0.1 ------------------------------------------------------------
Instruments, indexed on devaluation rate of tenge against USD and on inflation rate
------------------------------------------------------------ JGOKb2 11.23 +1.43 9.80 5.0 US_MER_e1 7.95 +0.06 8.40 12.8 ------------------------------------------------------------
Non-indexed instruments, denominated in foreign currencies
------------------------------------------------------------ US_JPM_e1 20.63 +0.09 20.086 7.9 ASBNe2 13.20 0 9.00 2.7 KKGBe5 12.68 +0.78 7.875 6.0 BTASe3 12.13 +0.70 7.875 2.2 KKGBe4 11.70 +0.01 8.50 5.1 aATFBe5 11.50 0 9.00 8.1 KKGBe6 11.16 +0.26 7.00 1.6 BRKZe4 8.79 +0.08 6.00 18.0 BRKZe3 8.65 +0.06 6.50 12.2 BRKZe2 8.34 0 7.375 5.6 HSBKe1 7.50 0 8.125 1.5 aATFBe4 6.60 0 8.125 2.6 ATFBe4 6.60 0 8.125 2.6 aATFBe2 6.50 0 8.875 1.6 ATFBe2 6.50 0 8.875 1.6 RU_02_3003 6.25 +0.01 5.00 22.0 RU_01_2806 4.79 0 12.75 20.3 IFO bonds 1.93 -0.21 4.38-5.50 4.4-5.7 ------------------------------------------------------------
Yields of bonds on which deals were made are calculated as average of deals, on the rest bonds - as average of the quotations of sale.
On bonds with floating coupon forecasted yield is indicated calculated at the current coupon value. The instrument term is shown with regard to the last date of the analyzed period (for bonds - till maturity, for repo instruments - till repo closing date).
Judging by the weighted average rate of KASE's main session, the speed of tenge devaluation to the US dollar during the analyzed period is estimated at 16.7% APR.
The yields shown here do not incorporate overhead expenses that are inevitable when conducting operations and fixing of profits. Securities marked by an asterisk are instruments with less than a year circulation term. For them is indicated the weighted average effective rate.
[2008-03-27]