/IRBIS, Dinara Mukasheva, October 22, 08/ - In September 2008 Kazakhstan
Stock Exchange (KASE) registered 1 316 deals for the total of KZT37.9 bn. or
USD316.3 m. according to the current rate as on the date of conclusion of deals
in shares in all market sectors including deals concluded on the special trading
floor of the regional financial center of Almaty (STF RFCA). The indicated sum
totals to 32.4 % of monthly turnover of KASE corporate securities market (in
August - 79.4 %) and 0.7 % of the total exchange monthly turnover (1.8 %).
By results of September weighted average day prices of 25 % shares
denominations increased (in August - 15 %), 65 % denominations (72 %) -
decreased, prices of 10 % of shares didn't change (13 %) on KASE. Maximum
trend showed the following instruments: ZERD increased by 80.6 %, RMXR fell
by 80.0 % (see table 5.trade with shares results on KASE in September 2008).
Situation on Kazakhstan equity instruments market was developing on world
capital market events. At that dynamic of the first was almost the same as the
second's.
The analyzed month was the most tragic in the history of the current world
financial crisis - in September progressive processes, developed after
deterioration with Freddie Mac and Fannie Mae and their nationalization. In the
mentioned period the epoch of investment banking had finished in the USA -
investment bank Lehman Brothers collapsed, serious problems of Merrill Lynch
saw the light, Goldman Sachs and Morgan Stanley had changed their status for
banking holding companies to get government support.
Stock markets of financial centers experienced the hardest shock when
September 15 Lehman Brothers announced their bankruptcy and shaky status of
Merrill Lynch, purchased by Bank of America for $50 bn. was known: by day
results, Dow Jones index fell by 4.42 %, S&P 500 - by 4.71 %, NASDAQ - by
3.60 % (KASE index fell on September 16 by 6.1 % - see table . Main indicators of
exchange purchase and sale share market in September, 2008).
September 19 when the USA government offered "Act on extraordinary economy
stabilization 2008" ($700 bn. Paulson's plan), investors optimized and world
technical indexes went up (KASE index grew by 5.5 %).
September 29 the new collapse of the world indexes happened when the USA
Congress rejected the "Paulson's plan" (September 30 KASE index fell by 5.6 %).
In total during the analyzed period NASDAQ Composite fell by 12.0 %,%, S&P
500 - by 9.2%, Dow Jones Composite - by 8.0%, DAX - by 8.9%, FTSE 100 - by
13.0%, RTS index - by 26.4%, MICEX index - by 23.8%.
Under mentioned events, investment attractiveness of financial sector securities
and companies` of developed markets again started to fall, what securities
quotations of Kazakhstan companies` experienced.
September was characterized by considerable losses on foreign markets for
Kazakhstan issuers - on London Stock Exchange quotations of equity shares of
all Kazakhstan banks sharply fell: global receipts of Alliance Bank JSC decreased
by 31.6 % (-17.6 %), Kazkommertsbank JSC - by 30.0 % (-23.1 %), Halyk
Savings Bank of Kazakhstan JSC - by 31.0 % (-21.3 %), Exploration Production
KazMunaiGaz JSC - by 33.0 % (-7.4 %), KAZAKHMYS PLC - by 55.1 % (-
13.1 %), EURASIAN NATURAL RESOURCES CORPORATION PLC - by 49.7 %
(+2.8 %).
Below are the tables providing details on KASE share market in September,
2008.
Tab. 1. Statistical characteristics of KASE share market in September 2008
-----------------------------------------------------------------------------
Trend to
-------------------------
August September
Indicator Sept. 2008 2008 2007
-------------------------------------- ---------- ----------- ------------
Trade volume, th. USD 316,345.6 -2.0,times -0.7,times
Trade volume, m. KZT 37,866.9 -2.0,times -0.7,times
including, on offerings, th. USD - Х Х
including, on offerings, m. KZT - Х Х
including on STF RFCA, th. USD 193.8 -73.2,times -190.7,times
including on STF RFCA, m. KZT 23.2 -73.5,times -193.7,times
Deals 1,316 +43.5,% -3.9,%
Instruments in deals 52 +30.0,% +4.0,%
Daily average of deals 63 +43.5,% -3.9,%
Daily average volume of deals, th. USD 15,064.1 -2.0,times +1.5,times
Daily average volume of deals, m. KZT 1,803.2 -2.0,times +1.5,times
Stake of nego deals (number), % 2.4 +0.5,pp -2.5,pp
Stake of nego deals (volume), % 5.2 +4.7,pp -6.1,pp
Pension assets, % gross 18.7 -4.4,pp -1.8,pp
Individuals, % gross 12.7 -0.8,pp -5.9,pp
Non-residents, % gross 8.5 +5.2,pp +5.3,pp
KASE members, concluded deals 49 +2.1,% -3.9,%
Market concentration, %* 54.6 -31.6,pp -4.6,pp
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*percent of total share turnover, which falls on most tradable securities (their
number makes 5 % of the total of stocks, involved in deals)
Tab. 2. Industrial characteristics of KASE share market*
------------------------------------------------------------------
Stake of total volume of market (%):
----------- ----------- ----------
Sept. Aug. Sept.
Industry 2008 2008 2007
---------------------------- ----------- ----------- ----------
Finance 74.0 94.4 76.7
Raw material sector 14.8 0.6 4.0
Telecommunications services 5.1 0.9 2.0
Power engineering 3.0 3.2 14.9
Discretional consumer sector
2.9 0.2 0.6
Public services 0.2 0.7 1.6
Main consumer sector 0.01 0.01 0.14
Public health 0.002 Х 0.01
Industry Х 0.0001 0.07
Information technologies Х Х Х
------------------------------------------------------------------
*Industrial classification of turnover structure has been compiled in accordance
with lndustry Classification Standard (GICS) Standart and Poor's
Tab. 3. KASE index dynamics in various periods
at the moment of trade close as on September 30, 2008 (basis actual/365)
------------------------------------------
Trend:
-------------
Period % % APR
--------------------------- ----- ------
For preceding 30 days -28.6 -347.5
Since the beginning of 2008 -45.9 -60.7
For last 365 days (year) -45.2 -45.2
In 2007 +12.2 +12.2
Form the beginning of 2007 -39.3 -22.5
------------------------------------------
Tab. 4. Main indicators of exchange purchase and sale share market
in September 2008
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Market Volume of Volume of
capitalization, deals, deals, Number
Date m. USD KASE index th. USD m. KZT of deals
-------- --------------- ---------- --------- --------- --------
29.08.08 71,634.2 1,996.30 5,019.2 600.0 44
02.09.08 67,174.0 1,943.09 724.8 86.7 35
03.09.08 66,393.7 1,951.66 3,635.1 435.4 35
04.09.08 65,428.0 1,910.51 13,512.5 1,617.3 60
05.09.08 61,277.5 1,899.95 9,865.6 1,180.1 44
08.09.08 61,326.6 1,866.77 27,566.3 3,297.5 62
09.09.08 60,819.8 1,782.80 11,075.9 1,325.9 53
10.09.08 58,969.9 1,731.95 2,790.1 333.7 85
11.09.08 55,973.8 1,682.91 5,402.2 646.0 54
12.09.08 52,698.3 1,709.72 9,984.5 1,192.9 61
15.09.08 58,880.3 1,690.90 16,284.1 1,945.8 61
16.09.08 54,576.2 1,588.18 25,620.8 3,061.2 87
17.09.08 53,759.0 1,556.11 3,995.3 478.0 57
18.09.08 52,728.5 1,533.62 7,160.7 858.2 54
19.09.08 51,535.2 1,617.85 4,889.1 585.7 83
22.09.08 55,896.6 1,596.84 2,483.7 297.3 75
23.09.08 54,657.9 1,587.55 1,129.7 135.2 73
24.09.08 53,776.2 1,590.88 60,080.3 7,194.0 52
25.09.08 53,740.9 1,604.02 4,523.4 541.8 58
26.09.08 52,962.2 1,539.86 87,458.4 10,477.5 82
29.09.08 50,304.9 1,511.00 7,870.2 942.9 58
30.09.08 46,266.7 1,426.19 10,292.7 1,233.5 87
29.08.08 71,634.2 1,996.30 5,019.2 600.0 44
-------- --------------- ---------- --------- --------- --------
Trend -25,367.4 -570.1
% -35.4 -28.6
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Tab. 5. Results of trades in shares on KASE in September 2008
(according to data on deals, concluded on the secondary market by open trade
method)
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Price, tenge per share:
----------------------------------------------------
by last deal for last 365 days Volume
Share ---------------- ----------------- of deals, Number
symbol min. max. price trend,% min max th. USD of deals
------- -------- -------- -------- ------- -------- -------- --------- --------
aHSBK 195.0 260.0 260.0 195.0 575.0 29.3 3
aHSBKp 172.7 172.7 172.7 172.7 285.0 29.3 1
AMGZp 44999.0 49000.0 49000.0 30000.0 49000.0 45.2 3
ASBN 11000.0 15900.0 12800.0 -21.0 11000.0 64000.0 399.2 20
ASBNp1 7800.0 10100.0 8450.0 -19.5 7800.0 19000.0 1,056.1 13
ASFI 22728.0 22728.0 22728.0 0 9700.0 25000.0 1,195.0 31
ASFIp 21635.2 22728.0 22728.0 0 10000.0 22972.8 47,509.2 6
aTEBN 5800.0 6500.0 5800.0 -12.1 5800.0 7000.0 56.3 2
aTEBNp 1818.2 2270.0 1818.2 1818.2 2717.0 26.7 5
aUTMK 25500.0 25500.0 25500.0 +10.9 19000.0 27000.0 18.9 1
aZERD 3.9 5.0 5.0 3.5 5.0 33.2 2
AZNO 10000.0 10000.0 10000.0 6000.0 11605.5 10.4 1
BTAS 35000.0 49800.0 39000.0 -17.0 850.0 125000.0 21,537.0 122
CCBN 1000.0 1410.0 1150.0 -23.3 950.0 2000.0 6,603.9 132
CHFM 910.0 910.0 910.0 910.0 1000.5 4.8 1
CSBN 4509.2 4746.6 4509.2 -5.0 3850.0 6105.0 48.5 3
CSBNp 1954.8 1954.8 1954.8 0 1954.8 2280.0 19.1 1
DNBN 2700.0 2700.0 2700.0 +22.7 2200.0 4025.0 11.3 2
EXBN 1980.0 2061.5 1980.0 1950.0 2900.0 2,741.3 2
EXBNp 1152.7 1153.0 1152.7 -2.5 1152.7 2185.0 11,962.1 11
GB_ENRC 1040.0 2167.0 1199.0 -45.5 1040.0 3750.0 574.8 57
GB_KZMS 1300.0 2800.0 1300.0 -56.7 1200.0 4600.0 755.3 70
HSBK 195.0 330.0 211.0 -27.5 190.9 619.0 16,506.2 152
HSBKp 172.7 215.0 172.7 172.7 333.5 41.8 2
HSBKp1 236.4 254.6 236.4 -14.1 175.0 353.0 50.4 3
KIBN 270.0 280.0 270.0 -3.6 110.0 385.0 38.1 5
KKGB 440.0 635.0 440.9 -29.7 380.0 1255.0 1,034.5 58
KKGBp 210.0 281.8 210.0 -25.5 200.0 440.0 385.7 28
KZTC 12000.0 12000.0 12000.0 0 12000.0 21700.0 3,012.8 1
KZTCp 1540.0 1590.9 1540.0 1540.0 3105.0 21.2 2
KZTK 29999.0 32000.0 30000.0 -3.2 29999.0 44000.0 12,570.3 137
KZTKp 11818.2 13900.0 12000.0 -14.3 11363.6 24600.0 247.1 30
LNAT 8500.0 8505.0 8505.0 +0.1 5000.0 9999.0 641.7 4
MMGZp 8000.0 12000.0 12000.0 +9.1 7400.0 20000.0 20.7 4
MREK 2499.0 2500.0 2499.0 -0.04 2499.0 2970.0 530.6 23
NFBN 4850.0 4900.0 4900.0 0 1321.0 5222.8 12,574.9 7
NRBN 20000.0 21900.0 20000.0 0 17500.0 28600.0 7,236.3 13
NRBNp6 13000.0 13000.0 13000.0 12400.0 13000.0 14.8 2
ORDB 2500.0 2500.0 2500.0 2500.0 4000.0 0.8 1
RAHT 2000.0 2190.0 2190.0 -24.5 2000.0 4200.0 42.2 2
RDGZ 10450.0 16051.0 11500.0 -30.3 10450.0 24595.0 9,244.6 215
RMXR 1.0 1.0 1.0 1.0 5.0 343.2 3
SUMB 300000.0 300000.0 300000.0 270000.0 302000.0 671.6 1
TEBN 5272.8 8500.0 5300.0 -24.3 4450.5 8500.0 78,774.2 17
TEBNp 1650.0 2550.0 1650.0 -35.3 1650.0 2900.0 687.7 25
TMLZ 5054.0 5054.0 5054.0 -0.1 5054.0 5057.0 960.4 1
TSBN 1350.0 1670.0 1350.0 -22.9 1210.0 3157.6 543.2 11
UTMK 19500.0 28000.0 22000.0 +10.0 19000.0 28000.0 45,203.1 14
UTMKp 3000.0 4000.0 3000.0 -26.8 1500.0 10000.0 199.5 8
VSTN 350000.0 360310.8 350000.0 0 322000.0 360310.8 5,438.3 6
ZERD 3.9 6.5 6.5 +80.6 3.5 6.5 8,260.6 17
------- -------- -------- -------- ------- -------- -------- --------- --------
51 299,963.5 1,281
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Notes: The table provides data on the shares, in which the deals were concluded by
one of the open trade methods. Trends (change in %) are provided in relation to
the last deal of the preceding month (August 1 - 31, 2008). Trend is not
computed, if there were no deals in the preceding month.
Tab. 6. Top 10 most liquid chares of KASE in September 2008,
including STF RFCA
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Liquidity indicator calculation base (Kl):
Rank Liquidity ------------------------------------------
----------- indicator volume number number
Sept. Aug. Share Kl of deals, number of KASE resultant
2008 2008 symbol m. KZT of deals members days
----- ---- ------- --------- ---------- --------- -------- ---------
1 2 RDGZ 2.56 1,105.8 215 58 21
2 3 HSBK 1.97 1,974.5 152 38 21
3 4 BTAS 1.72 2,578.7 124 32 19
4 5 KZTK 1.61 1,505.3 137 23 21
5 1 CCBN 1.44 790.9 132 19 19
6 9 GB_KZMS 1.17 90.4 70 21 20
7 8 GB_ENRC 1.12 68.7 57 26 17
8 6 KKGB 1.06 123.8 58 19 19
9 10 TEBN 0.94 9,439.6 18 8 9
10 7 KZTKp 0.81 29.6 30 18 15
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Notes: For calculation of Kl only data on deals concluded in KASE secondary market
sector by one of the open trade methods are accounted. The methodology of
calculation of this indicator is available in the corresponding section of the
document, released at
http://www.kase.kz/mix/rsp.pdf in Russian and at
http://www.kase.kz/eng/mix/rsp.pdf in English.
Tab. 7. Top 10 most capitalized listing companies of KASE,
shares of which were listed on the official list of securities of the Exchange
(as on the moment of trades close on the indicated dates)
--------------------------------------------------------------------------------
As on 30.09.08: As on 29.08.08: Trend:
-------------------- ---------------------- ---------------
capitali- compa- capitali- capitali-
Short or contraction zation ny zation company zation stake
name- of company rank m. USD stake% rank m. USD stake% m. USD pp
------------------------- -------- ------ ---- --------- ------- --------- -----
ENRC PLС 1 11,618.4 25.11 1 23,699.6 33.08 -12,081.2 -7.97
KazMunaiGas
Exploration
production JSC 2 6,618.1 14.30 3 9,598.3 13.40 -2,980.1 +0.91
KAZAKHMYS PLС 3 5,831.9 12.60 2 13,432.5 18.75 -7,600.6 -6.15
Kazakhtelecom JSC 4 2,785.6 6.02 6 2,879.8 4.02 -94.3 +2.00
BTA Bank JSC 5 2,656.9 5.74 4 3,296.9 4.60 -640.0 +1.14
ATF Bank JSC 6 2,565.3 5.54 8 2,571.7 3.59 -6.4 +1.95
Kazkommertsbank
JSC 7 2,443.6 5.28 5 3,186.2 4.45 -742.6 +0.83
Halyk Savings
Bank of
Kazakhstan JSC 8 1,921.3 4.15 7 2,653.0 3.70 -731.7 +0.45
Temirbank JSC 9 1,418.8 3.07 11 1,219.4 1.70 +199.4 +1.36
Bank CenterCredit JSC 10 1,275.3 2.76 9 1,544.3 2.16 -269.0 +0.60
--------------------------------------------------------------------------------
Notes: The company stake, % - an indicator, received by cutting off market
capitalization of the company to total capitalization of exchange market share
of official list of securities of KASE and expressed in percent. As on the market
close September 30, 2008 this indicator made USD46,266.7 m. 95 shares of 72
issuers were listed on the official list of KASE. The full list of codes of
issuers with names of the companies is available at:
http://www.kase.kz/instruments/nzb_code.htm
[2008-10-22]