In September of 2003 volume of GS purchase and sale deals at KASE increased by 21.3% to $34.3 m
/IRBIS, October 2, 03/ - In September of 2003 at the Kazakhstan Stock Exchange (KASE) 278 deals were made in government securities (GS) for a total of KZT34,332.4 mn or ($231.8 mn) what constituted to 8.3% of total exchange's turnover of the month. In last month having 296 deals concluded, the volume did not exceed KZT28,302.2 mn ($192.7 mn). During the month, exchange's turnover in sector increased by 21.3% in tenge equivalent and by 20.3% in dollar terms. Relative to September of 2002 volume of transactions rose 1.01 times (or by KZT449.1 m).
Increasing activity at secondary GS exchange market in September, in IRBIS specialists' opinion, was caused mainly by increasing volume of the Ministry of Finance's bond issuances. Purchase of these securities during initial public offering required restructuring of investors' portfolios at secondary market. Besides, higher volatility of domestic market of US dollar and price dynamics of sovereign eurobonds at world markets led to remarkable revival of trades in eurobonds of Kazakhstan at KASE. In opposite, tenge deficit at second-tier banks' corresponding accounts as well as rapid decline of exchange's turnover share (see below).
Statistical indicators of sale-purchase sector in September and turnover's structure are given in the table (in parentheses - comparable figures of previous month).
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Yield to maturity for the buyer, % APR.
Days --------------------------------------- Volume, mln KZT Number
till maturity min max last WA at discount of deals
-------------- ------- ------- ------- --------------- --------------- ---------
Discounted GS (KZT): National Bank's notes
48.8% (53.7%) of purchase and sale sector's turnover
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less than 8 3.07 7.91 4.20 4.14 (4.30) 860.7 14
8 - 14 2.87 6.00 5.00 4.79 (4.47) 971.7 15
15 - 28 3.27 5.60 4.60 4.87 (4.35) 1,016.6 13
29 - 36 3.28 6.45 6.45 6.33 (4.48) 531.8 3
37 - 42 4.00 5.30 5.10 5.03 (4.95) 116.4 6
43 - 56 5.02 6.39 5.05 5.96 (5.07) 581.6 7
57 - 63 5.02 5.30 5.10 5.06 (4.97) 1,704.1 6
64 - 91 4.29 7.02 5.42 5.44 (5.08) 2,115.6 17
92 - 181 2.28 5.19 5.01 5.02 (5.24) 1,442.2 27
182 - 364 4.96 5.13 4.96 5.03 (5.16) 7,409.5 55
-------------- ------- ------- ------- --------------- --------------- ---------
Total 16,750.2 (15,195.4) 163 (187)
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Coupon GS (KZT): MEOKAM, MEAKAM, MEIKAM
47.2% (34.5%) of purchase and sale sector's turnover
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less than 730 4.80 6.44 6.44 6.16 (5.61) 2,953.1 11
731 - 1095 2.62 6.31 5.68 5.43 (5.96) 4,666.6 34
1096 - 1460 6.00 6.50 6.50 6.22 (6.32) 30.1 3
1461 - 1825 5.70 6.68 6.07 6.17 (6.26) 8,013.7 37
More than 2191 6.44 6.48 6.48 6.48 ( -) 551.5 6
-------------- ------- ------- ------- --------------- --------------- ---------
Total 16,215.1 (9,759.8) 91 (89)
-------------- ------- ------- ------- --------------- --------------- ---------
Coupon GS (USD): bonds of Atyrau oblast city,
0.03% (11.00) of purchase and sale sector's turnover
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more than 1096 7.50 7.50 7.50 7.50 (7.41) 96.0 2
-------------- ------- ------- ------- --------------- --------------- ---------
Total 96.0 (3,105.6) 2 (10)
-------------- ------- ------- ------- --------------- --------------- ---------
Euronotes of Kazakhstan (USD)
3.7% (0.9%) of purchase and sale sector's turnover
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*382 - 406 2.49 3.69 3.46 3.50 (2.43) 578.2 9
**1301 - 1329 3.29 3.65 3.29 3.57 (3.54) 693.0 13
-------------- ------- ------- ------- --------------- --------------- ---------
Total 1,271.2 (241.5) 22 (10)
-------------- ------- ------- ------- --------------- --------------- ---------
GRANDTOTAL 34,332.4 (28,302.2) 278 (296)
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Notes: for euronotes (* - third issue. ** - fourth issue) volumes were calculated at weighted average USD/KZT rate of the Exchange.
In August the share of the Exchange's turnover in total volume of the deals made on the Kazakhstan secondary market of GS rose to 33.7%. in July it was 63.4%.
[2003-10-02]