ANALYSIS: In December 2008 volume of trades on KASE repo market grew 19.8 % up to KZT1.7 trl. ($14.5 bn.) at KZT3.4 trl. turnover ($28.4 bn.)

/IRBIS, Valeriy Khegay, January 23, 09/ - In December 2008 Kazakhstan Stock Exchange (KASE) repo market registered opening of 5,198 repo transactions. Volume of trades at the borrowing sum (on concluded and executed deals) made KZT1,743.5 bn. or USD14,457.0 m. at the current rate on dates of concluding deals, which is 27.4 % of the total volume of trades on KASE (in November - 47.0 %). Compared to November 2008 the volume of trades increased by KZT288.2 bn. ($2,339.4 m.) or by 19.8 %. Relative to December 2007 this indicator increased by KZT853.7 bn. ($7, 164.9 m.) or by 2.0 times (by 2.0 times in dollar terms). The exchange (calculating) turnover (is calculated on all executed opening and closing repo deals) of repo market in December 2008 made KZT3,426.5 bn. (equivalent $28,412.4 m.) and grew by 19.2 % (by 18.7 % in dollar terms) relative to the previous month. Structure of repo market (on borrowing sums) at KASE in analyzed month was as follows: 0. the stake of automatic repo transactions was 89.9 % of volume of trades in described market sector (KZT1,568.0 bn.), including repo transactions in government securities (GS) - 76.6% (KZT1,336.0 bn.), repo transactions in corporate securities (CS) - 13.3 % (KZT232.0 bn.); 1. the stake of repo transactions, conducted by nego deals method fell 10.1 % of volume of trades (KZT175.5 bn.), including repo transactions in GS - 2.6 % (KZT45.4 bn.), repo transactions in CS - 7.5 % (KZT130.1 bn.). For comparison, structure of stock exchange's repo market in November, 2008 was as follows: autorepo - 88.6 % (GS - 78.1 %; CS - 10.5 %); repo by nego method - 11.4 % (GS - 2.7 %; CS - 8.7 %). Below tables are given, which characterize primary segments of repo transaction market of KASE in December 2008 (volume of trades is given on borrowing sum; information on repo transactions in CS, made by direct method (7.5 % of the market) are not published by IRBIS due to a very big volume of the table). Automatic repo deals with GS - 76.6 % of the market -------------------------------------------------------------------------- Yield, % APR Num- Instrument ------------------------------------- ber Market (currency, on first mini- maxi- on last weighted Volume, KZT of share, term, days) deal mum mum deal average m. deals % ----------- -------- ----- ----- ------- -------- ----------- ----- ------ KZT_001 2.00 0.30 17.00 10.50 6.60 855,880.5 2173 64.06 KZT_002 4.60 3.50 10.50 10.50 7.02 11,149.0 45 0.83 KZT_003 6.00 3.00 10.50 8.10 5.43 14,760.0 31 1.10 KZT_007 5.00 4.50 13.00 11.50 9.50 409,035.1 458 30.62 KZT_014 5.00 5.00 12.50 7.00 9.87 18,874.0 71 1.41 KZT_028 7.00 3.00 13.00 8.50 9.48 26,311.0 56 1.97 ----------- -------- ----- ----- ------- -------- ----------- ----- ------ TOTAL 1,336,009.7 2,834 100 -------------------------------------------------------------------------- Automatic repo deals with CS - 13.3 % of the market ------------------------------------------------------------------------- Yield, % APR Instrument ------------------------------------- Volume, Num- Market (security, on first mini- maxi- on last weighted m. ber of share, term, days) deal mum mum deal average KZT deals % ----------- -------- ----- ----- ------- -------- --------- ------ ------ ASBNb10_007 10.00 10.00 10.00 10.00 10.00 1,415.0 4 0.61 ASBNb10_028 11.00 10.00 11.00 10.00 10.96 5,157.0 3 2.22 ASBNb3_028 11.00 133.0 1 0.06 ASBNb9_028 11.00 5,143.0 1 2.22 ASBNp1_014 9.50 6.0 1 0.00 ASFI_001 6.50 4.00 11.84 9.00 11.62 33,816.5 51 14.57 ASFI_007 8.50 8.00 12.00 8.00 10.92 4,109.1 10 1.77 ASFI_014 11.84 9.00 12.00 9.00 11.68 19,857.3 39 8.56 ASFI_030 11.84 11.84 14.00 14.00 12.52 3,732.0 8 1.61 ASFIb15_001 8.00 6.00 11.50 6.00 8.98 847.0 9 0.37 ASFIb15_003 9.00 85.0 1 0.04 ASFIb15_007 8.00 8.00 13.00 11.00 10.47 482.0 5 0.21 ASFIb15_014 10.50 142.0 1 0.06 ASFIb16_001 0.50 92.0 1 0.04 ASFIb16_007 2.00 32.0 1 0.01 ASFIb22_030 11.00 10.00 11.00 10.00 10.18 1,459.0 3 0.63 ASFIb24_001 8.00 3.00 10.75 5.00 7.25 3,366.0 11 1.45 ASFIb24_003 6.00 6.00 6.00 6.00 6.00 950.0 2 0.41 ASFIb24_007 15.00 12.00 15.00 12.00 12.20 750.0 3 0.32 ASFIb24_014 9.00 9.00 12.00 12.00 9.24 435.0 3 0.19 ASFIb5_001 7.00 5.50 7.00 5.50 6.10 2,005.0 5 0.86 ASFIb5_003 7.00 7.00 8.50 8.50 7.50 1,726.0 3 0.74 ASFIb5_007 7.50 7.50 12.00 12.00 8.11 169.0 2 0.07 ASFIb5_028 11.00 99.0 1 0.04 ASFIp_001 11.84 11.84 11.84 11.84 11.84 29,553.3 31 12.74 ASFIp_028 11.84 11.84 11.84 11.84 11.84 4,603.0 7 1.98 ATFBb4_007 12.00 110.0 1 0.05 ATFBb4_028 11.00 10.00 11.00 10.00 10.75 690.0 2 0.30 ATFBb5_028 11.50 11.50 11.50 11.50 11.50 2,000.0 2 0.86 ATFBb6_014 9.50 20.0 1 0.01 ATFBb6_028 10.60 10.60 12.00 11.00 11.04 1,048.0 19 0.45 BTAIb5_001 7.50 4.00 15.00 5.00 8.38 7,327.0 16 3.16 BTAIb5_003 8.50 116.0 1 0.05 BTAIb6_001 6.00 6.00 8.00 8.00 7.14 644.0 3 0.28 BTAIb6_003 8.50 285.0 1 0.12 BTAIb6_007 14.00 9.0 1 0.00 BTAIb6_028 13.00 80.0 1 0.03 BTAS_001 3.00 1.00 11.50 3.00 5.63 1,924.1 11 0.83 BTAS_003 3.00 3.00 15.00 15.00 5.14 578.0 3 0.25 BTAS_007 15.00 3.00 16.00 11.00 15.07 7,510.3 27 3.24 BTAS_030 15.00 12.50 16.00 12.50 15.55 3,503.1 9 1.51 BTAS_090 12.00 12.00 12.00 12.00 12.00 6,900.1 15 2.97 BTASb5_028 12.50 12.50 12.50 12.50 12.50 900.0 2 0.39 BTASb7_001 5.00 5.00 7.00 5.00 5.01 189.0 5 0.08 BTASb7_007 16.00 3.00 16.00 12.50 15.80 5,417.1 22 2.33 BTASb7_014 5.00 5.00 5.00 5.00 5.00 720.0 3 0.31 BTASb7_030 11.00 11.00 16.00 16.00 13.88 2,966.0 11 1.28 BTASb7_090 14.00 12.00 14.00 12.00 13.81 1,764.0 6 0.76 BTASb9_001 11.84 3.00 11.84 3.00 9.69 3,980.0 8 1.72 BTASb9_003 11.84 11.84 11.84 11.84 11.84 1,039.0 3 0.45 BTASb9_007 14.00 9.00 14.00 13.00 11.37 11,501.0 22 4.96 BTASb9_014 12.00 12.00 12.00 12.00 12.00 6,363.0 7 2.74 BTASb9_030 12.00 11.84 15.00 15.00 12.29 1,855.0 3 0.80 CCBN_001 6.00 100.0 1 0.04 CCBN_030 12.00 12.00 13.30 13.30 12.68 197.0 5 0.08 CCBN_090 12.00 12.00 12.00 12.00 12.00 4,725.0 2 2.04 CCBNb10_030 10.00 10.00 10.00 10.00 10.00 332.0 2 0.14 CCBNb13_028 11.00 10.00 11.00 10.00 10.41 358.0 2 0.15 CCBNb14_014 12.00 87.0 1 0.04 CCBNb19_028 11.00 3,823.0 1 1.65 CCBNb3_028 10.00 111.0 1 0.05 CCBNb7_028 12.00 350.0 1 0.15 CCBNb9_007 10.00 120.0 1 0.05 CSBNb4_028 11.00 237.0 1 0.10 CSBNb5_028 11.00 173.0 1 0.07 CSBNb6_007 10.00 215.0 1 0.09 CSBNb6_028 11.00 221.0 1 0.10 EUBNb3_028 12.50 12.50 12.50 12.50 12.50 164.0 2 0.07 EXBNb1_001 7.00 7.00 14.00 12.00 12.04 541.0 8 0.23 EXBNb1_007 12.50 90.0 1 0.04 EXBNb1_014 10.00 45.0 1 0.02 EXBNb2_001 9.00 6.00 9.00 6.00 7.25 77.0 2 0.03 EXBNb2_014 12.00 12.00 12.00 12.00 12.00 80.0 2 0.03 EXBNb2_028 15.00 11.00 15.00 11.00 13.90 105.0 2 0.05 HSBKb3_007 9.50 235.0 1 0.10 HSBKb7_028 10.00 10.00 10.80 10.80 10.54 324.0 3 0.14 HSBKp1_001 5.00 5.00 12.50 5.00 6.22 1,914.0 6 0.82 HSBKp1_003 6.00 6.00 8.50 8.50 6.81 1,284.0 5 0.55 HSBKp1_007 8.50 295.0 1 0.13 HSBKp1_014 10.00 10.00 13.00 10.00 10.41 952.0 4 0.41 KASTb1_028 11.50 852.0 1 0.37 KASTb2_028 11.50 11.50 11.50 11.50 11.50 2,200.0 2 0.95 KKGBb2_028 11.00 11.00 12.00 12.00 11.06 266.1 2 0.11 KZIKb11_028 12.00 12.00 12.00 12.00 12.00 458.0 2 0.20 KZIKb12_028 12.00 389.0 1 0.17 KZIKb18_007 10.00 10.00 12.00 12.00 11.32 1,900.0 3 0.82 KZIKb2_007 12.00 185.0 1 0.08 KZIKb2_028 12.00 67.0 1 0.03 KZIKb3_028 12.00 10.20 12.00 10.20 11.85 377.0 2 0.16 KZIKb5_028 12.00 166.0 1 0.07 KZIKb6_007 9.50 9.50 12.00 12.00 10.93 350.0 2 0.15 KZIKb8_007 9.50 69.0 1 0.03 KZTK_001 9.00 45.0 1 0.02 KZTK_028 12.50 73.0 1 0.03 KZTKp_028 12.00 20.0 1 0.01 ORDB_003 18.00 63.0 1 0.03 ORDB_007 18.00 14.50 18.50 18.50 17.82 577.0 6 0.25 ORDB_014 18.50 12.00 18.50 14.50 15.77 954.0 11 0.41 ORDB_028 14.50 15.0 1 0.01 ORDBb2_007 18.00 25.0 1 0.01 ORDBp_007 18.50 18.50 18.50 18.50 18.50 167.0 2 0.07 ORDBp_028 14.50 100.0 1 0.04 PRKRb2_028 11.00 10.80 11.50 11.50 11.14 5,675.0 3 2.45 RDGZ_001 5.00 5.00 12.50 12.50 10.81 391.0 5 0.17 RDGZ_014 10.00 10.00 13.00 13.00 11.46 1,781.0 6 0.77 RDGZ_028 12.50 11.00 13.00 12.50 12.46 1,120.0 5 0.48 RESCb1_007 12.00 12.00 12.00 12.00 12.00 246.0 5 0.11 RGBRb4_001 6.00 100.0 1 0.04 RGBRb4_007 12.00 100.0 1 0.04 RGBRb4_028 12.50 24.0 1 0.01 RGBRb5_001 6.00 59.0 1 0.03 RGBRb5_007 12.00 59.0 1 0.03 RGBRb6_001 6.00 6.00 12.00 12.00 6.33 2,705.0 38 1.17 TEBN_001 5.00 5.00 5.00 5.00 5.00 195.0 3 0.08 TEBN_007 15.00 5.00 15.00 12.50 7.56 286.0 6 0.12 TEBN_014 12.50 43.0 1 0.02 TEBNb16_014 10.00 30.0 1 0.01 TEBNb16_028 12.00 30.0 1 0.01 TEBNp_007 12.50 13.0 1 0.01 TEBNp_014 12.50 8.0 1 0.00 TSBN_001 13.50 8.00 14.00 8.00 12.05 71.0 3 0.03 TSBN_030 11.00 10.80 12.00 11.00 11.11 3,014.0 10 1.30 ----------- -------- ----- ----- ------- -------- --------- ------ ------ TOTAL 232,026.4 610 100 ------------------------------------------------------------------------- Direct repo deals with GS - 2.6 % of the market -------------------------------------------------------------------- Yield, % APR Term of ------------------------------------- Volume, Num- Market repo, on first mini- maxi- on last weighted m. ber of share, days deal mum mum deal average KZT deals % ------- -------- ----- ----- ------- -------- -------- ------ ------ 0 10.00 10.00 60.00 10.00 13.85 1,300.0 25 2.86 1 5.00 0.00 25.00 5.50 8.55 12,101.7 128 26.67 2 7.00 0.00 11.00 11.00 9.15 2,284.9 24 5.04 3 8.00 2.50 15.00 3.50 8.46 1,157.9 13 2.55 4 10.00 0.01 17.50 5.00 10.27 2,804.9 35 6.18 5 5.00 45.2 1 0.10 6 0.50 0.50 10.00 5.00 7.27 478.6 7 1.05 7 10.00 0.00 12.00 7.00 9.42 4,587.9 49 10.11 8 7.00 6.75 8.57 6.75 7.62 1,192.6 15 2.63 9 10.00 7.00 10.00 8.50 9.73 2,699.6 34 5.95 10 6.00 6.00 8.10 8.10 7.74 241.0 2 0.53 12 11.18 5.50 11.18 5.50 10.25 1,581.0 13 3.48 16 3.00 3.00 3.00 3.00 3.00 347.8 4 0.77 19 1.50 1.50 10.02 10.02 7.99 315.0 2 0.69 21 3.50 0.02 3.50 0.02 3.26 148.1 3 0.33 22 7.83 587.8 1 1.30 23 9.32 67.1 1 0.15 24 15.02 26.0 1 0.06 25 7.98 7.69 7.98 7.69 7.73 162.0 2 0.36 28 11.90 11.90 11.90 11.90 11.90 220.0 2 0.48 29 10.50 10.50 10.50 10.50 10.50 335.4 3 0.74 32 15.05 15.05 15.05 15.05 15.05 62.0 2 0.14 33 10.92 31.0 1 0.07 34 7.01 5.51 7.01 5.51 6.26 400.0 2 0.88 36 10.51 10.51 10.51 10.51 10.51 335.4 3 0.74 48 10.53 10.53 10.53 10.53 10.53 410.5 4 0.90 65 10.55 10.55 10.55 10.55 10.55 272.9 3 0.60 69 11.97 11.97 11.97 11.97 11.97 440.0 4 0.97 70 11.96 11.96 11.96 11.96 11.96 737.0 7 1.62 179 11.20 11.20 11.20 11.20 11.20 3,104.0 3 6.84 181 11.00 11.00 11.00 11.00 11.00 1,897.7 7 4.18 182 10.00 10.00 10.00 10.00 10.00 5,001.4 11 11.02 ------- -------- ----- ----- ------- -------- -------- ------ ------ TOTAL 45,376.6 412 100 -------------------------------------------------------------------- [2009-01-23]