In July of 2003 volume of deals on GS purchase and sale at KASE increased 1.6 times to KZT25.6 bn and

/IRBIS, August 1, 03/ - In July of year 2003, in Kazakhstan Stock Exchange's (KASE) GS purchase and sale sector 316 deals for the total amount of KZT25,555.6 m ($174.0 m) were fixed, that was 6.0% of the whole exchange's monthly turnover. Last month number of deals, which was 244, reached KZT16,179.3 m ($108.7 m). During the month exchange's turnover in the sector increased 1.58 times in tenge and 1.60 in dollars. All mentioned deals were made at secondary market, because there were no successful trades in primary floatation sector. As is seen from the data below, expansion of the market in July was achieved regarding all types of securities. IRBIS analysts explain more active trade in the National Bank's notes by increasing of their floatation volume at the primary market (KZT2.2 bn. in discount expression), and also by dismissing notes by some participants to the secondary market in order to get money for buying МЕОКАМ. Besides, Kazakhstan pension funds went on diversifying their portfolios towards increasing of tenge position, that caused additional demand for National Bank's bonds. Expansion of trading in mid-term internal bonds of the Ministry of finance was caused first of al by increasing of their issue volume - from KZT3.0 bn. in June to KZT8.9 bn. in July. The significant increase of liquidity at the market of bonds of sovereign external debt was caused mainly by exogenous factor: falling of prices of euronotes of Kazakhstan at the world market. It was adequately reflected at KASE as growth of yield of bonds, in which some traders were closing log positions. Relative to July of 2002 the exchange's turnover increased 2.4 times (by KZT15,027.7 m). Statistical indicators of sale-purchase sector in July and turnover's structure are given in the table (in parentheses - comparable figures of previous month). ----------------------------------------------------------------------------- Yield to maturity for the buyer, % APR. Volume, Days ----------------------------- mln KZT Number till maturity min max last WA at discount of deals -------------- ---- ---- ---- ----------- ------------------- --------- Discounted GS (KZT): MEKKAM, National Bank's notes 65.3% (85.6%) of purchase and sale sector's turnover ----------------------------------------------------------------------------- less than 8 3.00 7.83 3.00 5.31 (3.37) 1,119.5 12 8 - 14 3.64 5.31 4.37 4.53 (3.90) 468.3 16 15 - 28 3.98 5.20 4.50 4.56 (4.85) 1,690.1 39 29 - 36 4.18 5.17 5.17 4.77 (5.14) 894.1 22 37 - 42 4.66 5.14 5.00 4.93 (5.25) 123.0 5 43 - 56 4.94 5.33 4.94 5.14 (5.34) 296.7 8 57 - 63 4.90 5.21 5.21 5.06 (5.33) 417.6 8 64 - 91 5.01 5.83 5.09 5.21 (5.16) 1,163.7 26 92 - 181 5.03 5.64 5.32 5.31 (5.58) 6,920.5 73 182 - 364 4.74 6.51 5.38 5.40 (7.79) 3,600.7 20 -------------- ---- ---- ---- ----------- ------------------- --------- Total 16,694.1 (12,739.7) 229 (182) -------------- ---- ---- ---- ----------- ------------------- --------- Coupon GS (KZT): MEOKAM, MEAKAM 25.1% (9.5%) of purchase and sale sector's turnover ----------------------------------------------------------------------------- less than 730 3.13 6.63 3.13 5.13 (6.29) 2,046.19 34 731 - 1095 5.98 6.66 5.98 6.24 (6.75) 891.99 10 1096 - 1460 6.17 6.58 6.55 6.40 (6.13) 867.63 10 1461 - 1825 6.19 6.70 6.19 6.43 (6.51) 2,601.56 10 -------------- ---- ---- ---- ----------- ------------------- --------- Total 6,407.4 (1,420.3) 64 (42) -------------- ---- ---- ---- ----------- ------------------- --------- Coupon GS (USD): bonds of Astana city 0.2% ( -) of purchase and sale sector's turnover ----------------------------------------------------------------------------- more than 1096 8.33 8.49 8.33 8.38 ( -) 44.9 2 -------------- ---- ---- ---- ----------- ------------------- --------- Total 44.9 ( -) 2 ( -) -------------- ---- ---- ---- ----------- ------------------- --------- Euronotes of Kazakhstan (USD) 9.4% (4.8%) of purchase and sale sector's turnover ----------------------------------------------------------------------------- *438 - 450 2.28 2.88 2.50 2.71 (2.69) 283.8 4 **1361 - 1380 3.47 3.65 3.57 3.62 (3.38) 2,125.4 17 -------------- ---- ---- ---- ----------- ------------------- --------- Total 2,409.2 (719.4) 21 (11) -------------- ---- ---- ---- ----------- ------------------- --------- GRANDTOTAL 25,555.6 (14,879.5) 316 (235) ----------------------------------------------------------------------------- Notes: for euronotes (* - third issue, ** - fourth issue) volumes were calculated at weighted average USD/KZT rate of the Exchange. In July the share of the Exchange's turnover in total volume of the deals made on the Kazakhstan secondary market of GS rose to 67.0%, in June it was 42.0%. [2003-08-01]