In February 2002 volume of all transactions at KASE reached $1,565.0m, a 3.1 time increase against similar period of 2001

/IRBIS, March 4, 02/ - In February 2002 total volume of transactions made in all sectors of the KASE reached an equivalent of $1,565.0m, or KZT238.1bn. Compared to similar month of 2001, turnover increased 3.10 times measured in dollars and 3.25 times measured in tenges. Meanwhile, relative to previous month - January 2002 - turnover declined by 4.7% in dollars, and 4.4% in tenges. Following is the table of volumes of deals made at KASE in February 2002, as well as dynamics of the turnover structure of the Exchange (m USD unless otherwise indicated). The calculation was made in terms of dollars. --------------------------------------------------------------------- To relative month of 2001: To relative month: -------------------------- ------------------- Market trend: trend: sector February February ---------------- January ----------- KASE 2002 2001 m USD % 2002 m USD % ------------- -------- --------- --------- ------ ------- ----- ----- Foreign 139.5 133.3 +6.2 +4.6 151.8 -12.3 -8.1 currency 8.9% 26.4% 9.2% ------------- -------- --------- --------- ------ ------- ----- ----- Futures 49.0 0 +49.0 +100.0 97.8 -48.8 -49.9 contracts 3.1% 0% 6.0% ------------- -------- --------- --------- ------ ------- ----- ----- GS 1,340.8 355.0 +985.8 +277.7 1,349.5 -8.6 -0.6 85.7% 70.4% 82.2% ------------- -------- --------- --------- ------ ------- ----- ----- CS 35.7 12.8 +22.9 +178.4 42.5 -6.9 -16.2 2.3% 2.5% 2.6% ------------- -------- --------- --------- ------ ------- ----- ----- Supranational 0 3.0 -3.0 0 0 0 0 bonds 0% 0.6% 0% ------------- -------- --------- --------- ------ ------- ----- ----- TOTAL 1,565.0 504.1 +1,060.9 +210.4 1,641.5 -76.6 -4.7 100% 100% 100% --------------------------------------------------------------------- Following is the table with the dynamics of the turnover of the Exchange in last 13 months, which is grouped by months and market sectors. Turnover structures of the sectors were calculated in terms of dollars. -------------------------------------------------------------------------- Forex Futures GS CS Supranat-ls ----------- ----------- ------------ ---------- ------------ Month volume % volume % volume % volume % volume % TOTAL -------------------------------------------------------------------------- Est. bn KZT -------------------------------------------------------------------------- 02-01 19.4 26.4 0 0 51.6 70.4 1.9 2.5 0.440 0.601 73.3 03-01 21.1 24.1 0 0 63.3 72.1 3.3 3.7 0.086 0.098 87.7 04-01 18.9 20.6 0 0 69.9 76.2 3.0 3.2 0.026 0.029 91.8 05-01 23.5 25.4 0 0 66.2 71.4 3.0 3.3 0 0 92.8 06-01 20.9 27.2 0 0 51.9 67.5 4.1 5.3 0 0 76.9 07-01 24.2 26.0 0 0 61.8 66.4 7.1 7.6 0 0 93.2 08-01 17.9 18.5 0 0 73.3 75.7 5.6 5.8 0.011 0.012 96.8 09-01 23.1 20.4 0 0 82.8 73.4 6.7 6.0 0.260 0.230 112.9 10-01 33.7 21.0 0 0 118.3 73.8 8.2 5.1 0.040 0.025 160.3 11-01 30.3 13.8 0 0 174.3 79.1 15.7 7.1 0 0 220.3 12-01 37.5 12.3 79.7 26.0 173.7 56.7 15.2 5.0 0 0 306.1 ----- ------ ---- ------ ---- ------- ---- ------ --- ------ ----- ------- 01-02 23.0 9.2 15.0 6.0 204.6 82.2 6.4 2.6 0 0 249.1 02-02 21.2 8.9 7.5 3.2 203.9 85.7 5.4 2.3 0 0 238.1 -------------------------------------------------------------------------- Est. bn USD -------------------------------------------------------------------------- 02-01 133.3 26.4 0 0 355.0 70.4 12.8 2.5 3.028 0.601 504.1 03-01 145.2 24.1 0 0 434.8 72.1 22.4 3.7 0.592 0.098 603.0 04-01 129.7 20.6 0 0 480.1 76.2 20.4 3.2 0.180 0.029 630.4 05-01 160.9 25.4 0 0 453.0 71.4 20.8 3.3 0 0 634.7 06-01 142.4 27.2 0 0 354.1 67.5 28.0 5.3 0 0 524.5 07-01 165.1 26.0 0 0 421.2 66.4 48.4 7.6 0 0 634.7 08-01 121.7 18.5 0 0 498.3 75.7 37.9 5.8 0.077 0.012 658.0 09-01 156.2 20.4 0 0 560.6 73.4 45.7 6.0 1.758 0.230 764.3 10-01 227.7 21.0 0 0 799.2 73.8 55.7 5.1 0.267 0.025 1 082.9 11-01 204.1 13.8 0 0 1,173.1 79.1 105.5 7.1 0 0 1 482.6 12-01 249.5 12.3 520.9 25.7 1,156.1 57.0 101.4 5.0 0 0 2 027.9 01-02 151.8 9.2 97.8 6.0 1,349.5 82.2 42.5 2.6 0 0 1 641.5 ----- ------ ---- ------ ---- ------- ---- ------ --- ------ ----- ------- 02-02 139.5 8.9 49.0 3.1 1,340.8 85.7 35.7 2.3 0 0 1 565.0 -------------------------------------------------------------------------- Supranat-ls - bonds of international financial organizations. As it's seen from these data, in February decline in volumes of deals was registered at the Exchange in all sectors against previous month. The most of the contraction (49.9%) was typical to the market of futures contracts, which is traditionally the least steady and strongly influenced by the market condition. The most of the decline, 16.2%, was due to a decline in turnover of the corporate securities (CS) as a result of low issuing activity of their issuers, temporary impossibility of making repo deals using CS by the entities of the pension market, as well as low yields of the most of the most liquid corporate bonds. Quickly growing sector of government securities (GS), thanks to the development of the automatic repo sector, also enjoyed good times in February, though the decline was minimal - 0.64%. Increase in turnover was observed only in repo deals. However, the shrinkage of the monetary base by the National Bank prevented more quicker growth. In GS purchase-sale sector the volume of deals declined almost two times against previous month. The market of the most liquid bonds, euronotes of Kazakhstan, was "overheated" at the beginning of the year, as a result, the prices of the sovereign debt reached the psychological maximum and it had a negative impact on the volumes of trades. General picture of February is completed by a 8.1% decline in volume of foreign currency deals. It seems traditional as budgetary payments are made for the last year and due to a seasonal low activity of the importers. Besides, new methods of the monetary regulation on repo market, finally introduced by the National Bank in February, considerably declined the speculations of the American currency, which was low anyway, and it did not stimulate the growth of the volumes of deals. The positive trends of February at KASE were three. It is clear from the table that against similar period of 2001 the Exchange is growing faster. In February the proportion of securities deals at KASE was the highest in a whole history of the Exchange - 88.0%. Besides, in February KASE worked actively towards the development of the normative base and software of the trade system. Thanks to these, the trades in bills will be opened at KASE in March, and traders will be able to work with CS in automatic repo sector (it allows to make deals in CS using pension assets), as well as to extend the repo independently through the trade system of KASE. Besides, from March 1 the Exchange enacts new Listing regulations. As a result of joint work of the KASE, the National Bank, the issuers and their financial consultants in January and February most of the matters were settled regarding the negative impact of the changes in the Civil code of Kazakhstan. As a result, two issuers - Development Bank of Kazakhstan CJSC and Alfa-Bank OJSC, launched their bonds into the official list under category "A". Several new issues of other issuers are on the way. All these cases leave hope for a noticeable activation of the Exchange in spring.