In July of 2003 volume of CS purchase and sale deals at KASE decreased by 12.4% to $40.2 m
/IRBIS, August 4, 03/ - In July of 2003 at the Kazakhstan Stock Exchange (KASE) 185 deals were made in corporate securities (CS) in all sectors of the market (excluding repo-transactions sector) for a total of KZT5.9 bn or $40.2 m at current rate of the Exchange effective on the day the deals were made. In comparison with June of 2003 volume of transactions decreased by $5.7 m (KZT919.8 m) or by 12.4% (13.5% in terms of tenge). Relative to July of 2002 volume of transactions rose by $5.6 m. (KZT580.1 m) or by 16.1% (by 10.9% in terms of tenge).
Structure of CS turnover at KASE in July is presented in the following way: the whole volume of conducted deals ($40,171.6 th.) fell to the stake of transactions of purchase and sale sector. No transactions were made in SBS and primary floatation sector. For comparison, the structure of stock exchange's CS sector in 2002 was characterized by the following indicators: 5.5% of transactions volume fell to the share of primary floatation; to the share of SBS - 33.1%; to the share of purchase and sale sector - 61.4%.
Decrease of deals volume in CS in July occurred due to absence of primary floatations at KASE in this month (in June volume of primary floatations reached $6.4 m). July's volume of purchase and sale deals in the secondary market sector exceeded June's one.
Results of analysis give evidence about the significant decrease of liquidity at shares market in July. Volume of deals in dollar equivalent in this type of securities fell by 57.1% from $20.7 m. in June to $8.9 m. in July. Number of shares, which were involved into deals, fell from 22 to 16 correspondingly, number of deals - from 132 to 92. At the secondary market of bonds volume of transactions rose by 68.8% from $18.8 m. to $31.3 m. Number of securities, which were involved into deals, rose from 30 to 31, deals - 76 to 93.
Analysts of IRBIS explain the high turnover of June with introduction of market estimation of pension funds' portfolios. It caused activation of trades due to conducting of the so called "revaluation deals", the purpose of which was fixation of higher market prices of the securities, which were traded at KASE. In July potential of such transactions (especially in shares) fell because further increase of prices could cause unwilling attention from outside of the regulating body. July's falling of exchange's CS turnover was partially compensated by activation of trade in corporate euronotes, which was provoked by falling of their cost at the world market. However volume of these deals was small.
Following are the tables, which show stock exchange's CS market in July of 2003.
Most tradable securities at the KASE in July of 2003 (purchase and sale only, excluding deals in SBS and primary floatation)
------------------------------------------------------------------------------------- Code Volume of Volume of Volume of Number of deals, deals, deals in of security Brief title of the issuer th. USD m, KZT securities deals -------- ----------------------------------- --------- --------- ------------- ------ CCBNb3 Bank CenterCredit OJSC 8,102.34 1,189.13 1,064,990,000 6 KKGBe2 KAZKOMMERTSBANK OJSC 3,576.47 525.44 3,101,000 5 KANT Kant OJSC 3,274.02 481.12 1,339,788 1 ASBNb1 Alliance Bank OJSC 3,020.99 443.48 458,750,000 1 KZTKb1 Kazakhtelecom 2,068.66 304.26 19,640 6 CCBN Bank CenterCredit OJSC 2,003.11 295.87 1,479,748 4 BTASb2 Bank TuranAlem OJSC 1,983.97 291.94 21,170 1 VTBNb1 VALUT-TRANZIT BANK OJSC 1,876.73 275.56 18,100 2 VTBN VALUT-TRANZIT BANK OJSC 1,842.63 270.43 788,485 12 KZAPb1 NAC Kazatomprom 1,714.53 251.70 2,516,000 2 ALKSb2 Almaty Kus OJSC 1,622.56 237.63 15,367 3 KZIKb1 Kazakhstan Mortgage Company CJSC 1,517.73 222.41 20,350 4 ASFIb2 Astana-finance OJSC 1,254.17 183.83 1,892,000 5 HSBKb3 Halyk Bank of Kazakhstan OJSC 780.22 114.47 113,920,000 5 KTTH Kaztorgtekhnika OJSC 630.47 92.52 12,726 5 BRKZe1 Development Bank of Kazakhstan CJSC 542.56 79.45 510,000 2 TEBN TEMIRBANK OJSC 495.50 73.07 73,726 28 BRKZb1 Development Bank of Kazakhstan CJSC 472.26 69.68 67,000 1 ARNAb1 ARNA OJSC 429.31 63.02 6,060 7 TMJLb2 NC KTZh CJSC 416.27 61.35 4,140 3 BTASe1 TuranAlem Finance B.V. 390.89 57.60 370,600 6 HSBKb Halyk Bank of Kazakhstan OJSC 285.50 41.93 2,580 4 NRBNb1 Nurbank OJSC 272.15 40.00 40,600 3 ZERD Zerde OJSC 252.23 37.06 34,660,077 7 KKGBe3 Kazkommerts International B.V. 167.26 24.55 150,000 2 SYRGb1 PetroKazakhstan Oil Products JSC 157.66 23.13 1,528 5 KZTOb KazTransOil CJSC 151.23 22.23 1,470 4 VITAb3 VITA OJSC 136.26 20.00 204,900 1 ALKS Almaty Kus OJSC 114.03 16.77 1,358,932 4 VTBNp VALYUT-TRANSIT BANK OJSC 98.20 14.42 49,968 6 UTMKp UKTMC OJSC 96.32 14.10 2,800 2 ATFBb2 ATFBank OJSC 69.00 10.14 670 2 CSBNb1 BANK CASPIAN OJSC 65.40 9.60 650 1 KKGBb2 KAZKOMMERTSBANK OJSC 64.18 9.43 65 2 KZTOe1 KazTransOil CJSC 58.19 8.54 54,600 2 KZMS Corporation Kazakhmys OJSC 40.28 5.92 1,452 4 RGBRb3 RG BRANDS OJSC 36.44 5.36 5,500,000 2 TXBNb1 TEXAKABANK OJSC 23.89 3.52 3,200 2 ORDBb1 Corporation Ordabasy OJSC 21.50 3.16 3,200 2 KZPSb1 Kazpost OJSC 20.14 2.97 3,000 1 BTASe2 TuranAlem Finance B.V. 10.79 1.58 10,000 1 CSBN BANK CASPIAN OJSC 6.44 0.94 5,522 5 UTMK UKTMC OJSC 2.80 0.41 80 2 KZTKp Kazakhtelecom 2.68 0.39 201 2 CSBNp BANK CASPIAN OJSC 1.57 0.23 1,301 6 CHFM Chimfarm JSC 1.10 0.16 200 2 HSBK Halyk Bank of Kazakhstan OJSC 0.95 0.14 1,167 2 -------------------------------------------------------------------------------------
Comments: The securities were sorted in descending order based on the volumes of deals expressed in U.S. dollars. Small letters in the securities codes have the following meanings: "p" - preferred inscribed share; "b" - bond: "e" - eurobond; the rest - common inscribed share. The figure shows the number of the bond issue. If there is no figure (old code) it implies that it is the first issue.
Table of main indicators of the stock exchange's CS market in July of 2003
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Capitaliza- Capitaliza-
tion tion Bond value
of the of the index, Volume
share bonds Bonds including of
market, Share market, yield accum deals,
Date m, USD index m, USD index interest th. USD
----------- ----------- -------- ----------- ------- ---------- -------
June 30, 03 1,690.5 98.5885 1,349.120 7.8642 143.0865 3,626.5
July 1, 03 1,683.6 104.8819 1,349.513 7.8482 143.1774 567.5
July 2, 03 1,684.4 106.4339 1,348.946 7.9010 142.9588 216.6
July 3, 03 1,681.8 106.4708 1,338.470 7.8892 143.0150 3,255.6
July 4, 03 1,683.0 100.5975 1,360.082 8.2167 141.5038 84.8
July 7, 03 1,683.8 137.6765 1,360.564 7.9412 143.2696 115.2
July 8, 03 2,246.5 137.6338 1,362.513 7.9249 143.0371 3,140.6
July 9, 03 2,878.4 131.6784 1,361.059 7.9347 143.0038 5,174.7
July 10, 03 2,861.5 137.5640 1,361.673 7.9394 143.0675 3,529.9
July 11, 03 2,891.6 137.5383 1,361.884 7.9260 143.0929 5,633.7
July 14, 03 2,894.1 137.5180 1,362.204 7.8849 143.4436 0.0
July 15, 03 2,898.9 135.9332 1,362.507 7.9021 143.3733 718.8
July 16, 03 2,904.1 125.6804 1,363.370 7.8796 143.4877 1,070.6
July 17, 03 2,908.3 136.5893 1,373.179 7.8822 143.4825 1,419.1
July 18, 03 3,738.9 119.8310 1,411.462 7.9027 143.5337 6,463.4
July 21, 03 3,737.9 123.2103 1,412.279 7.8886 143.5965 1,373.9
July 22, 03 3,619.2 125.6964 1,411.711 7.9192 143.4816 1,304.0
July 23, 03 3,618.5 125.6989 1,411.691 7.9152 143.5138 147.4
July 24, 03 3,628.2 125.6796 1,412.020 7.9149 143.5268 3.0
July 25, 03 3,624.3 119.8674 1,406.608 7.9356 143.4829 1,849.3
July 28, 03 3,619.0 130.8118 1,405.582 7.9235 143.6765 869.6
July 29, 03 2,191.1 130.8326 1,405.781 7.9129 143.7292 547.6
July 30, 03 2,192.1 130.8222 1,405.199 7.9407 143.6204 130.3
July 31, 03 2,196.6 130.8136 1,630.937 7.9663 143.5126 2,555.9
----------- ----------- -------- ----------- ------- ---------- -------
Trend +506.1 +32.2251 +281.817 +0.1021 +0.4261
+29.94% +32.69% +20.89% +1.30% +0.30%
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Comments: The shares index (KASE_Shares) reflects the changes in the bids on the shares from the official Exchange's securities list of "A" category, including the market capitalization of their issuers. The capitalization of the bonds market - indicator that reflects the volume of corporate debt circulating on the KASE as the bonds of the companies. It is calculated on the basis of the number of issued bonds and the bonds admitted to the trades and their market values. In case of the absence of the last figure, face value is used instead. Capitalization of the shares market - indicator that reflects the market capitalization of the companies whose shares were entered into official list of the KASE securities. It is calculated on the basis of the number of issued shares and their last market values. In case of the absence of the deals the face values of the securities, expressed in U.S. dollars (if necessary) at the rate of the Exchange for the current day, are used. Bonds yield index (KASE_BY) - weighted average (through capitalization) yield of the corporate bonds of category "A" of the KASE official list, which is calculated based on the deals or average bids of the market-makers (if there is no deal). Index of bonds yield with accumulated interest (KASE_BP) - weighted average (through capitalization) "dirty" price of the corporate bonds of category "A" of the KASE official list, which is calculated based on the deals or average bids of the market-makers (if there is no deal). Purchase-sale deals volume includes the deals made in state blocks of shares and volume of primary floatations at KASE's specialized trades but it doesn't take into account repo transactions.
[2003-08-04]