Within the first 7 months of 2003 volume of all transactions at KASE reached equivalent of $17,398.6 m and grew 1.5 times

/IRBIS, August 5, 03/ - Within the first seven months of 2003 total volume of transactions made in all sectors of the Kazakhstan Stock Exchange (KASE) reached equivalent of $17,398.6 m, or KZT2,626.7 bn. Compared to similar period of 2002, volume of transactions increased 1.5 times measured in dollars and in tenge. Relative to previous four-month period (June-December of 2002) stock exchange's turnover increased by 3.5% measured in dollars and 1.1% measured in tenge. Following is the comparative table of volumes of deals made at KASE within the mentioned periods, as well as dynamics of the turnover structure of the Exchange's market (m. USD, unless otherwise specified). The calculation was made in terms of dollars. -------------------------------------------------------------------------------------- Rel. to corr. month of 2002: Relative to previous period: Rel. to corr. month of 2002: Relative to previous period: ---------------------------- ---------------------------- Market's Jan- trend in: trend in: sector of July Jan-July ----------------- June-Dec ----------------- KASE 2003 2002 m USD % 2002 m USD % ---------------- -------- --------- --------- ------ --------- ------- -------- Foreign 3,056.9 1,333.4 +1,723.5 +129.3 2,110.5 +946.4 +44.8 currencies 17.6% 11.6% 12.6% ---------------- -------- --------- --------- ------ --------- ------- -------- Futures 1,052.03 406.6 +645.5 +158.8 552.3 +499.7 +90.5 contracts 6.05% 3.5% 3.3% ---------------- -------- --------- --------- ------ --------- ------- -------- GS 1,087.7 781.7 +306.0 +39.2 1,333.0 -245.3 -18.4 6.3% 6.8% 7.9% ---------------- -------- --------- --------- ------ --------- ------- -------- CS 515.0 200.8 +314.2 +156.5 447.3 +67.7 +15.1 3.0% 1.7% 2.7% ---------------- -------- --------- --------- ------ --------- ------- -------- Repo (CS and 11,686.8 8,765.2 +2,921.7 +33.3 12,363.6 -676.8 -5.5 GS) total 67.2% 76.3% 73.6% ---------------- -------- --------- --------- ------ --------- ------- -------- inc. repo on GS, 1,530.1 1,200.8 +329.3 +27.4 1,912.6 -382.5 -20.0 direct 8.8% 10.5% 11.4% ---------------- -------- --------- --------- ------ --------- ------- -------- inc. auto- 9,899.7 7,515.1 +2,384.7 +31.7 10,326.6 -426.9 -4.1 repo on GS 56.9% 65.4% 61.4% ---------------- -------- --------- --------- ------ --------- ------- -------- inc. repo on CS, 196.7 49.3 +147.4 +298.8 120.7 +76.1 +63.0 direct 1.13% 0.4% 0.7% ---------------- -------- --------- --------- ------ --------- ------- -------- inc. auto- 60.3 0 +60.3 X 3.7 +56.6 +1,515.7 ---------------- -------- --------- --------- ------ --------- ------- -------- repo on CS 0.35% 0% 0.02% ---------------- -------- --------- --------- ------ --------- ------- -------- Promissory notes 0.096 0 +0.073 X 0 +0.096 X 0.001% 0% 0% ---------------- -------- --------- --------- ------ --------- ------- -------- TOTAL 17,398.6 11,487.6 +5,911.0 +51.5 16,806.8 +591.8 +3.5 100% 100% 100% -------------------------------------------------------------------------------------- Following is the table with the dynamics of the turnover of the Exchange in last 7 months, which is grouped by months and market sectors (both in KZT and USD). ---------------------------------------------------------------------------------- ------- ------- -------- ------- ------- ------- -------- Market Indica- ------- ------- -------- ------- ------- ------- -------- sector tor I-2003 II-2003 III-2003 IV-2003 V-2003 VI-2003 VII-2003 -------- ------- ------- ------- -------- ------- ------- ------- -------- In million US dollars -------- ------- ------- ------- -------- ------- ------- ------- -------- Foreign volume 306.6 607.6 356.6 398.6 393.0 567.5 426.9 Currency % 14.4 26.5 18.9 16.5 17.5 16.1 14.7 -------- ------- ------- ------- -------- ------- ------- ------- -------- Futures volume 0 0.500 1.505 0.005 0 1,050.0 0 % 0 0.022 0.080 0.0002 0 29.8 0 -------- ------- ------- ------- -------- ------- ------- ------- -------- GS volume 218.5 200.9 160.8 87.8 137.0 108.7 174.0 % 10.2 8.8 8.5 3.6 6.1 3.1 6.0 -------- ------- ------- ------- -------- ------- ------- ------- -------- CS volume 78.5 27.9 41.6 82.7 198.2 45.9 40.2 % 3.7 1.2 2.2 3.4 8.8 1.3 1.4 -------- ------- ------- ------- -------- ------- ------- ------- -------- REPO volume 1,528.9 1,456.5 1,323.9 1,846.6 1,518.3 1,756.6 2,255.7 % 71.7 63.5 70.3 76.4 67.6 49.8 77.9 -------- ------- ------- ------- -------- ------- ------- ------- -------- Promis. volume 0 0.096 0 0 0 0 0 notes % 0 0.004 0 0 0 0 0 -------- ------- ------- ------- -------- ------- ------- ------- -------- TOTAL 2,132.4 2,293.5 1,884.5 2,415.7 2,246.5 3,528.7 2,896.9 -------- ------- ------- ------- -------- ------- ------- ------- -------- In billion tenge -------- ------- ------- ------- -------- ------- ------- ------- -------- Foreign volume 47.6 93.2 54.0 60.6 59.3 84.5 62.7 Currency % 14.4 26.5 18.9 16.5 17.5 16.1 14.7 -------- ------- ------- ------- -------- ------- ------- ------- -------- Futures volume 0 0.076 0.229 0.001 0 157.2 0 % 0 0.022 0.080 0.0002 0 29.9 0 -------- ------- ------- ------- -------- ------- ------- ------- -------- GS volume 33.9 30.8 24.4 13.3 20.7 16.2 25.6 % 10.2 8.8 8.5 3.6 6.1 3.1 6.0 -------- ------- ------- ------- -------- ------- ------- ------- -------- CS volume 12.2 4.3 6.3 12.6 29.9 6.8 5.9 % 3.7 1.2 2.2 3.4 8.8 1.3 1.4 -------- ------- ------- ------- -------- ------- ------- ------- -------- REPO volume 237.6 223.3 200.5 280.7 229.2 261.5 331.4 % 71.7 63.5 70.2 76.4 67.6 49.7 77.9 -------- ------- ------- ------- -------- ------- ------- ------- -------- Promis. volume 0 0.015 0 0 0 0 0 -------- ------- ------- ------- -------- ------- ------- ------- -------- notes % 0 0.004 0 0 0 0 0 -------- ------- ------- ------- -------- ------- ------- ------- -------- TOTAL 331.4 351.7 285.5 367.2 339.1 526.2 425.6 ---------------------------------------------------------------------------------- Notes: in GS sector only deals of the primary market and purchase and sale in the secondary market are considered; in CS sector only deals of the primary market and purchase and sale in the secondary market (including SBS) are considered; in REPO sector repo transactions with GS and CS are considered, including auto repo. As is seen in the table, major reason of decrease of exchange's turnover in July is absence of deals at futures contracts market. Besides, volume of currency transactions has significantly decreased that was forecasted by IRBIS because of absence of sales of big state blocks of shares. Corporate securities (CS) market was not interesting either. Primary floatations of CS were not held at KASE in July despite the significant number of nre shares and bonds, which were included into exchange's official list during this month (a total of 8 issues have passed listing procedure), and shares market compressed again to the minimum after making of pension portfolios' revaluation at the current market cost. On the credit side of KASE there is significant growth of government securities (GS) purchase and sale transactions in July, which was achieved mainly due to increase of issue activity of the Ministry of finance, and unexpectedly high volume of repo transactions. The latter thing, as IRBIS published already, was caused by the effect of three factors: higher repo rates, which were caused by decrease of banks' short-term liquidity in accordance with tax payments by the results of the quarter; grown volumes of short money borrowings for working at the currency market; growth of the stake of exchange's turnover in the turnover of the whole Kazakhstan repo market. Analysts of IRBIS do not expect high activity of exchange's market in August. Already now it's possible to forecast further decrease of currency market's volume and approximately the same turnover at the repo market. Activity of trades in GS will depend on the volume of new issues, and CS market in presence of any changes, because of little stake, will hardly significantly influence upon changing of the whole volume of trades at KASE. [2003-08-05]