ANALYSIS: July 23 KASE index reached minimal value for recent 52 weeks

/IRBIS, Ruslan Dzubaylo, July 24, 2008/ - July 23, KASE index reached the minimal value for recent 52 weeks - 2,366 point, overcoming long term horizontal support level 2,400. Since July beginning, index decreasing is estimated in 9.1%, since the beginning of current year - 10.3%. Falling relative to maximum value, reached in 2008 on day closing (2,858 point, 21.02.08), reached 17.7%. Let us remind that Kazakhstan share market conjuncture now is mainly formed by investors, who work with securities of Kazakhstan companies on London Stock Exchange (LSE). Dynamics of the computation basis of KASE index from July 18 to 23 2008 ------------------------------------------------------ Last price, Share KZT per share Change- Rate of trading ---------------------- in price "influence" symbol July 23,08 July 22,08 % on index, % ------- ---------- ---------- -------- ----------- BTAS 63,000.00 64,500.00 -2.33 15.6 CCBN 1,400.00 1,465.00 -4.44 9.5 GB_KZMS 3,301.00 3,600.00 -8.31 14.2 HSBK 415.00 402.00 +3.23 13.6 KKGB 790.00 800.00 -1.25 13.7 KKGBp 385.00 350.00 +10.00 2.6 KZTK 34,000.00 33,000.00 +3.03 10.6 KZTKp 15,000.00 15,100.00 -0.66 0.8 RDGZ 19,300.00 19,500.00 -1.03 15.6 TEBN 7,000.00 7,000.00 0 3.5 TEBNp 2,800.00 2,800.00 0 0.4 ------------------------------------------------------ As you see from above table, since the beginning of current week common shares of KAZAKHMYS PLC (-8.31 %) contributed to index decreasing. At that, the market on this instrument for the same period on LSE liked (+2.07 %). The thing is that July 18 shares of this company were traded on KASE with big premium to LSE (by 14.2 % higher). At the same week the price of this instrument on KASE corrected to minimum of mentioned spread. Now spread narrowed to -3.1 % (see IRBIS news on Kazakhstan companies depositary receipts for July 18 and 23 2008). In the whole, share market in analyzed period was rather calm. In Kazakhstan there are tendencies, described by IRBIS analysts earlier (see news for 17.07.08 ANALYSIS: KASE index falling was on the same world markets` movement), with only one difference that world markets stopped their activity after USA announcements on providing support to mortgage companies Freddie Mac and Fannie Mae. IRBIS analysts retain their forecast on share market: KASE index will correct to 100-150 point till 2500 level. The main reason is inadequate falling of Kazakhstan banks` share prices on LSE on the second wave of mortgage crisis in USA. IRBIS agency gives notice that material given above is not an offer or recommendation to sell or buy shares on KASE. Using it by anyone while taking investment decisions does not make IRBIS agency responsible for possible losses, resulting from such the decisions. [2008-07-24]