REVIEW: KASE share market in November 2009

/IRBIS, December 11, 09/ - In November 2009 Kazakhstan Stock Exchange (KASE) registered 2,033 deals for the total of KZT 392.5 bn. or USD 2,635.2 m. according to 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 regional financial center of Almaty (STF RFCA). The indicated sum totals to 93.9 % of monthly turnover of KASE corporate securities market (in Oct. 2009 - 44.7 %) and 14.8 % of the total exchange monthly turnover (1.0 %). Such a significant increase in transaction volumes in this month stock market was due to KASE the conclusion of November 25, 2009 entry into trade system of KASE a deal to sell 100.0% of the total number of offered common shares Mangistaumunaigaz of KTZ 387,566,298,009.00 (equivalent to 2,602,163,945.27 USD). As reported by National Company KazMunaiGaz JSC, the acquisition of 100% of common shares of Mangistaumunaigaz the company Central Asia Petroleum Ltd. Implemented company Mangistau Investments BV - a joint venture equally owned by National company KazMunaiGas JSC and CNPC Exploration and Development Company Ltd CNPC E&D. As a result of November 2009 at the KASE increased average daily price of 50% of items of stock (in October 2009 - 67 %), decreased - 39% of items (20%), prices of 11% shares didn't change (13%). Maximum trends in the monthly results demonstrated the following tools: KZTK increased by 166.7%, ZERD decreased to 84.3%. In October 2009 KZTK increased by 38.9 %, KASE fell to 32.4 %. On the London Stock Exchange (LSE) global receipts Kazkommertsbank increased by 28.6 % (in October rose by 7%), JSC "KazMunaiGas EP" - on 1.9% (+5.7%), KAZAKHMYS PLC - on 13.2 % (1.4%). Equity securities Halyk Savings Bank of Kazakhstan increased by 22.1 % (-3.1%), ENRC - by 3.4% (-4.9%). Below are the tables providing details on KASE share market in Nov. 2009. Table 1. Statistical characteristics of KASE share market in November 2009 ------------------------------------------------------------------------ Trend to --------------------- Indicator Nov. 2009 Oct. 2009 Nov. 2008 -------------------------------------- ----------- ---------- ---------- Trade volume, th. USD 2,635,246.1 15.3 times 11.6 times Trade volume, m. KZT 392,525.8 15.1 times 14.4 times including, on offerings, th. USD - - - including, on offerings, m. KZT - - - including on STF RFCA, th. USD - -* -** including on STF RFCA, m. KZT - -* -** Deals 2,033 +25.0% +2.3% Instruments in deals 29 -3.3% -44.2% Daily average of deals 102 +37.5% +2.3% Daily average volume of deals, th. USD 131,762.3 16.8 times 11.6 times Daily average volume of deals, m. KZT 19,626.3 16.6 times 14.4 times Stake of nego deals (number), % 0.1 -0.2pp -1.2pp Stake of nego deals (volume), % 0.01 -0.3pp -1.7pp Pension assets, % gross 19.9 -7.5pp +15.8pp Individuals, % gross 31.2 +18.0pp +22.2pp Non-residents, % gross 19.9 +4.8pp +14.4pp KASE members, concluded deals 39 -4.9% -18.8% Market concentration, % 98.7 +35.6pp +39.1pp ------------------------------------------------------------------------ * The volume of transactions on the RFCA in October 2009 was KTZ 7.8 m. ($ 51.6 thousand). ** Volume of transactions on the RFCA in November 2009 amounted to KTZ 33.5 million ($ 2,788.1 thousand). *** indicates the percentage of the total turnover of shares, which accounts for most traded securities (Their number is 5% of the total number of titles of shares involved in the transaction). Tab. 2. Industrial characteristics of KASE share market* ----------------------------------------------------------------- Stake of total volume of market (%): ------------ ----------- ----------- Industry Nov. 2009 Oct. 2009 Nov. 2008 ---------------------------- ------------ ----------- ----------- Finance 98.8 43.3 15.3 Power energy 0.8 51.8 52.2 Discretional consumer sector 0.3 1.3 2.5 Raw material sector 0.1 1.6 21.2 Telecommunications services 0.05 - 8.5 Main consumer sector 0.03 1.9 0.01 Information technologies 0.004 - 0.04 Public services 0.0004 0.01 0.00002 Industry 0.0001 0.01 0.3 Public health 0.0001 0.00002 0.02 ----------------------------------------------------------------- * Industrial classification of turnover structure were compiled in accordance with industry Classification Standard (GICS) Standard and Poor's Tab. 3. KASE index dynamics in various periods at the moment of trade close as on November 30, 2009 (basis actual/365) ----------------------------------------- Trend in: ------------- Period % % APR --------------------------- ------ ------ For preceding 30 days +9.3 +113.3 Since the beginning of 2008 +103.4 +113.0 For last 365 days (year) +91.4 +91.4 In 2007 -65.7 -65.7 Form the beginning of 2007 -30.3 -15.8 ----------------------------------------- Tab. 4. Main indicators of exchange purchase and sale share market in Nov. 2009 ------------------------------------------------------------------ Market Volume of Volume of capitalization, deals, deals, Number Date m. USD KASE index th. USD m. KZT of deals -------- --------------- ---------- ----------- --------- -------- 30.10.09 56,096.3 1,681.20 54,113.2 8,157.0 81 02.11.09 53,134.8 1,628.83 949.7 143.2 40 03.11.09 52,821.0 1,599.34 495.1 74.7 91 04.11.09 53,455.6 1,637.43 672.0 101.3 44 05.11.09 53,846.4 1,623.91 676.2 102.0 71 06.11.09 53,576.1 1,633.52 1,762.2 265.8 86 09.11.09 53,911.1 1,665.13 839.2 126.6 107 10.11.09 54,958.8 1,683.65 8,941.5 1,348.2 93 11.11.09 55,293.4 1,715.78 1,484.4 223.7 175 12.11.09 54,907.1 1,719.51 1,104.3 166.1 119 13.11.09 54,316.1 1,698.47 1,409.9 211.4 119 16.11.09 55,530.9 1,742.73 1,854.4 277.2 107 17.11.09 56,172.2 1,765.43 1,059.7 158.1 77 18.11.09 56,308.5 1,806.54 969.4 144.6 119 19.11.09 57,051.4 1,807.69 1,131.2 168.4 130 20.11.09 55,223.5 1,771.71 1,632.5 243.1 128 23.11.09 55,540.9 1,812.71 2,523.5 375.5 89 24.11.09 55,544.8 1,804.92 1,859.6 276.6 91 25.11.09 58,198.3 1,821.80 2,603,147.8 387,712.8 133 26.11.09 57,862.9 1,804.32 1,748.8 260.1 141 30.11.09 58,059.7 1,837.76 984.5 146.4 73 -------- --------------- ---------- ----------- --------- -------- Trend 1,963.4 156.6 . . . % +3.5 +9.3 . . . ------------------------------------------------------------------ Tab. 5. Changes in shares tradable on KASE in November 2009 -------------------------------------------------------- Shares: Instruments: Issuers: Admission ------------------------------------ category Numb. trend Numb. trend Numb. trend ------------------- ----- ----- ------ ----- ----- ----- First 22 -1 22 -8 15 -1 ------------------- ----- ----- ------ ----- ----- ----- Second 38 0 38 -6 27 0 Third 41 -10 41 -16 37 -7 Investment funds` securities 2 0 2 0 2 0 Unlisted securities 6 +1 6 +1 5 +1 ------------------- ----- ----- ------ ----- ----- ----- Total 109 -7 109 -29 82 -5 -------------------------------------------------------- Notes: By decision of KASE Listing commission on October 30, 2009 approved the official list of securities of the Joint Trade platform KASE and RFCA. The official list was approved by the decision of Exchange Council at Oct. 29, 2009 and came into effect from November 9, 2009. Tab. 6. Results of trades in shares on KASE in November 2009 (according to data on deals, concluded on the secondary market by open trade method) --------------------------------------------------------------------------- Price, tenge per share: ------------------------------------------------ by last deal for last 365 days Volume Number Share ----------------------- of deals of symbol min. max. price trend% min max th. USD deals ------- ------- ------- ------- ------ -------- -------- ----------- ------ BTAS 1300.0 1900.0 1300.0 -41.4 1090.0 48400.0 64.8 60 CCBN 563.0 955.0 901.0 +51.9 200.0 955.0 5,889.4 404 CHFM 880.0 1045.0 1045.0 810.0 1210.0 104.4 4 EXBN 550.0 721.5 600.0 499.0 2270.6 790.7 8 GB_ENRC 2100.0 2353.0 2144.0 -3.9 415.0 2385.0 313.2 108 GB_KZMS 2790.0 3299.0 3199.0 +4.2 370.0 3299.0 2,212.2 221 HSBK 247.0 324.0 319.0 +16.0 61.5 341.0 2,844.5 500 HSBKp1 176.3 188.1 176.3 +23.3 109.10 188.10 1,084.1 6 KAZI 200.0 200.0 200.0 150.0 350.01 1,193.5 4 KIBN 167.0 176.0 176.0 +15.8 152.0 250.0 155.3 6 KKGB 530.0 740.0 699.0 +25.9 250.0 740.0 8,999.2 154 KKGBp 231.0 341.0 300.0 +39.9 86.4 341.0 135.6 19 KMSO 5100.0 5100.0 5100.0 +15.9 3050.0 12800.0 27.3 2 KZIS 29700.0 37400.0 37400.0 28640.0 41420.0 129.8 5 KZPC 1200.0 1200.0 1200.0 0 1200.0 1200.0 11.1 3 KZTC 5100.0 6600.0 5100.0 1417.2 12000.0 365.9 16 KZTK 18000.0 22500.0 18750.0 -12.8 5000.0 23000.0 6,405.9 373 KZTKp 8000.0 9000.0 8500.0 -6.1 1880.5 9900.0 289.1 45 MMGZ 3593.3 3593.3 3593.3 3593.3 3593.3 2,602,163.9 1 MMGZp 4999.0 4999.0 4999.0 -0.8 2000.0 8000.0 0.9 1 MREK 1900.0 1900.0 1900.0 -9.1 1760.0 2700.0 1.8 1 NFBN 2000.0 2000.0 2000.0 0 2000.0 4900.0 3.4 1 ORDB 1480.0 1480.0 1480.0 250.0 2700.0 0.3 1 PDES 880.0 880.0 880.0 880.0 994.0 0.0 1 RAHT 1250.0 1250.0 1250.0 0 1000.0 2300.0 2.3 2 RDGZ 21000.0 22780.0 21550.0 -2.0 8100.0 23500.0 894.6 65 TSBN 940.0 1034.0 1034.0 +10.0 600.0 1155.6 31.2 7 ZERD 1.10 7.20 1.10 -84.3 1.10 7.2 147.7 11 ZERDp 5.0 5.51 5.51 +10.2 3.9 5.6 717.1 2 ------- ------- ------- ------- ------ -------- -------- ----------- ------ 29 2,634,978.8 2,031 --------------------------------------------------------------------------- Notes: The table provides data on 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 (October 1 - 31, 2009). Trend is not computed, if there were no deals in the preceding month. Tab. 7 Top 10 most liquid shares of KASE in November 2009, including STF RFCA ------------------------------------------------------------------------- Liquidity indicator calculation base (Kl): ------------------------------------------ Rank --------- volume number number Nov. Oct. Share Liquidity of deals, number of KASE resultant 2009 2009 symbol indicator Kl m. KZT of deals members days ---- ---- ------- ------------ ----------- ---------- -------- ---------- 1 1 HSBK 2.50 426.1 500 30 20 2 2 CCBN 2.28 880.1 404 29 20 3 6 KZTK 2.21 956.4 373 29 20 4 7 KKGB 1.78 1,355.8 154 29 20 5 5 GB_KZMS 1.68 331.1 221 22 20 6 4 GB_ENRC 1.52 47.0 108 24 20 7 3 RDGZ 1.31 134.2 65 22 18 8 9 KZTKp 1.09 43.4 45 18 16 9 8 BTAS 1.02 9.7 60 18 12 10 - MMGZ 0.59 387,566.3 1 2 1 ------------------------------------------------------------------------- Notes: For calculation of Kl only data on deals concluded 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. 8. 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 30.11.09: As on 30.10.09: Trend: ---------------------- ---------------------- --------------- Short or capitali- company capitali- company capitali- contraction name zation stake zation stake zation stake of company rank m. USD % rank m. USD % m. USD pp ------------------ ---- --------- ------- ---- --------- ------- --------- ----- ENRC PLC 1 18,570.9 31.97 1 19,431.6 34.64 -860.7 -2.67 KAZAKHMYS 2 11,401.9 19.63 2 10,844.0 19.33 +557.9 +0.30 KazMunaiGaz EP 3 10,291.4 17.72 3 10,456.4 18.64 -165.0 -0.92 Kazkommertsbank 4 3,748.7 6.45 4 3,053.4 5.44 +695.3 +1.01 Halyk Bank 5 3,107.7 5.35 5 2,696.0 4.81 +411.7 +0.54 ATFBank 6 2,606.9 4.49 - - - - - Kazakhtelecom 7 1,405.3 2.42 6 1,587.1 2.83 -181.8 -0.41 Astana-Finance 8 1,341.9 2.31 7 1,323.4 2.36 +18.4 -0.05 Caspian bank 9 876.0 1.51 9 560.8 1.00 +315.2 +0.51 Bank Center Credit 10 561.8 0.97 10 554.1 0.99 +7.7 -0.02 -------------------------------------------------------------------------------- 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 KASE and expressed in percent. As on the market close November 30, 2009 this indicator made USD 58,059.7 m. 101 shares of 75 issuers were listed on the official list of KASE. [2009-12-11]