Dealers' trench warfare proceeds on KASE, supply ounterbalances demand

/IRBIS, Oct.22, 99/ - On the Kazakhstan Stock Exchange (KASE) next trades in US dollar, deutsche mark and Euro were held with participation of 24 banks. US dollar: trades in dollar were opened today at 140.50 tenge per unit. At the first minutes of trade the sellers had to lower the dollar price to the day's minimum - 140.45 tenge per unit. However the rate decrease was short. Dealers joined to work , demand accrued, and under its pressure the dollar rate gone upwards, to 140.61 tenge at the 25-th minute. The second phase has passed with gradual dollar decrease. The dollar rate fluctuated with amplitude of 2-3 points. At the end of session supply / demand balance in a price interval of 140.54 - 140.54 140,58 tenge per dollar, was established. The trades were closed at the quotations of 140.57/58 tenge per dollar. Total 256 transactions were made in USD. An average weighted dollar rate has made 140.56 (+ 0.04). Volume of session - $11.740 million (+ $1,845). The amplitude of rate fluctuation has not exceeded 0.14%. The banks of the second tier demand was essential on today's tenders. It was counterbalanced by thee offer and, as well as yesterday, the market made an equilibrium impression. The dealers tried to decline the market to the fall or growth, but there was no tendency. In result the speculative component of the participants behavior has grown again. Features of the session: active work of banks at approximately equal volumes of participation, essential offer of exporters' currency, ambiguity of the further events. One hour after trade closing on the OTS market of Kazakhstan dollar was quoted at 140.54/60 tenge. One more hour later - at 140.48/58. Deutsche mark: deals were not made. At the session closing the mark quotation has made 77.46/78.30 tenge per DM. Euro: 2 transaction were made. An average weighted rate - 152.01 (-0.23) tenges per Euro. Volume of session - EUR20,000 (5,000). At the session closing demand was characterized by the price of 151.90 tenge per unit, offer was away.