Morning (main) USD trades at KASE on June 26

/IRBIS, Vitaliy Tomskiy, June 26, 08/ - Regular morning USD TOD trades were held on Kazakhstan Stock Exchange (KASE). The main parameters of the trade and the comparison with corresponding indicators of the previous morning session are given below. Table of trade results (tenge per dollar. th. dollars) --------------------------------------------------------------------- Indicator Value Trend ---------------------------------------------------- ------- -------- Rate of the first deal 120.75 -0.05 Maximum rate 120.76 -0.13 Volume at maximum price 31500 +20,300 Minimum rate 120.72 -0.07 Volume at minimum price 10845 +9,845 Rate of the last deal 120.72 -0.13 ---------------------------------------------------- ------- -------- Weighted average rate 120.74 -0.10 Volume of the session 141,010 -189,990 ---------------------------------------------------- ------- -------- Net-turnover 70,500 -188,400 Number of deals 241 +122 Number of participants 19 -1 Volume of unsatisfied offer* 30,150 -29,950 Volume of unsatisfied demand* 25,765 -69,735 Best demand on KASE at closing 120.72 -0.12 Best offer on KASE at closing 120.73 -0.12 ---------------------------------------------------- ------- -------- Best demand at 11:00 out of stock exchange (REUTERS) 120.72 -0.08 Best offer at 11:00 out of stock exchange (REUTERS) 120.75 -0.07 --------------------------------------------------------------------- * 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 ------ ------- --------- ----- ----- 120.76 31,500 5 10:20 10:22 120.75 30,250 32 10:17 10:23 120.74 39,600 73 10:24 10:48 120.73 28,815 75 10:27 10:59 120.72 10,845 56 10:53 11:00 ------ ------- --------- ----- ----- TOTAL 141,010 241 10:17 11:00 ------------------------------------ Today USD/KZT rate, as expected, decreased after considerable fall of ask on dollar and increasing of bid on the side of one of commercial banks, which was possibly aroused by last tax payments in this month. The National Bank announcement on reduction of refinancing rate by 5 p.p. to 10.5 % was the main event yesterday. Minimum reserve requirements also decreased (5 % - on internal liabilities and 7 % - on other liabilities), which, according to IRBIS is more significant for the market. These measures look adequate under conditions of actual stagnation in a bank sector with credit crisis and construction collapse. Reduction of reserve requirements will allow for restraining the liquidity situation on a favorable level, which aroused main anxieties under conditions of huge payments on foreign liabilities of the bank system this year and difficulties with new credit resources borrowing on international markets. Reduction of refinancing rate is of a declarative character and reflects inflationary expectations in the country. According to the head bank forecast annual inflation will slow down (In May, 2008 Kazakhstan inflation rate was 19.5 % APR) in the second half of this year. The dollar was quoted at 120.70/74 at the KASE day session at 12:04 p.m.; the last deal was concluded at 120.73. The dollar was quoted at 120.72/75 on over-the-counter. [2008-06-26]