In December of 2003 volume of deals on GS purchase and sale at KASE increased 3.2 times to KZT72.3 bn

/IRBIS, January 6, 04/ - In December of year 2003, in Kazakhstan Stock Exchange's (KASE) GS purchase and sale sector 322 deals for the total amount of KZT72,318.4 m ($498.2 m) were fixed, that was 11.4% of the whole exchange's monthly turnover. Last month number of deals, which was 226, did not exceed KZT22,848.9 m ($155.7 m). During the month exchange's turnover in the sector increased 3.17 times in tenge and 3.20 in dollars. Relative to December of 2002 the turnover increased by 7.4% (by KZT4,967.5 m). Given sector of exchange's market developed under taught circumstances, caused by the decision of the Ministry of finance to call the rest of MEAKAM bonds. This circumstance significantly impacted the dynamics of volume of deals and securities turnover structure. The volume of MEAKAM offer at KASE increased somewhat above average. One more factor that strengthened GS liquidity was corporate issuers' dynamic offers of new large and interesting bonds in the second half of November and December. Investors' willingness to buy these securities, which offer nice yield led to restructuring of portfolios in terms of GS and CS shares. This process was accompanied by activating of GS trades both at KASE and over the counter. Events at domestic market of US dollar influenced the euronotes market of sovereign debt, and encouraged high circulation of municipal bonds, indexed on change in of tenge exchange rate to dollar. At last, the year end factor, which traditionally can be characterized by increasing volume of transactions on any instruments, also played significant role in forming GS market in December. Statistical indicators of sale-purchase sector in December 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 -------------- ---- ----- ---- ------------- ------------------ --------- Discount GS (KZT): MEKKAM, National Bank's notes 27.0% (65.1%) of purchase and sale sector's turnover ------------------------------------------------------------------------------- less than 8 4.00 4.00 4.00 4.00 (3.08) 703.5 2 8 - 14 1.83 4.00 4.00 3.88 (5.18) 140.8 2 15 - 28 4.02 5.43 4.85 5.16 (4.56) 487.9 8 37 - 42 2.66 5.10 5.10 5.04 ( -) 1,019.3 6 43 - 56 4.55 4.71 4.69 4.65 (4.72) 722.3 5 57 - 63 4.73 4.73 4.73 4.73 (4.78) 8.9 1 64 - 91 2.00 4.86 4.50 4.44 ( -) 300.2 8 92 - 181 0.99 37.23 4.54 4.81 (5.00) 3,891.3 36 182 - 364 4.01 5.13 4.84 5.02 (4.74) 12,221.1 59 -------------- ---- ----- ---- ------------- ------------------ --------- Total 19,495.3(14,866.3) 127 (126) -------------- ---- ----- ---- ------------- ------------------ --------- Coupon GS (KZT): MEOKAM, MEAKAM, MEIKAM 69.8% (30.5%) of purchase and sale sector's turnover ------------------------------------------------------------------------------- less than 730 4.48 6.00 4.94 5.03 (6.13) 12,823.4 47 731 - 1095 5.22 15.15 5.50 6.48 (5.59) 1,161.4 22 1096 - 1460 5.75 5.79 5.79 5.77 (6.00) 578.1 3 1461 - 1825 5.78 8.25 6.09 5.93 (6.11) 32,828.7 70 1826 - 2190 6.09 6.40 6.10 6.13 ( -) 2,167.7 20 More than 2191 6.09 6.40 6.40 6.15 (6.22) 891.8 11 -------------- ---- ----- ---- ------------- ------------------ --------- Total 50,451.1 (6,969.7) 173 (86) -------------- ---- ----- ---- ------------- ------------------ --------- Coupon GS (USD): bonds of Eastern-Kazakhstan, Atyrau obl, Astana city 2.8% ( 0.1%) of purchase and sale sector's turnover ------------------------------------------------------------------------------- Less than 730 5.94 7.98 7.98 7.08 (5.00) 677.2 3 731 - 1095 6.70 8.59 8.59 8.47 ( -) 497.2 3 more than 1096 8.41 9.90 9.90 8.91 ( -) 826.3 2 -------------- ---- ----- ---- ------------- ------------------ --------- Total 2,000.7 (20.0) 8 (1) -------------- ---- ----- ---- ------------- ------------------ --------- Euronotes of Kazakhstan (USD) 0.5% (4.3%) of purchase and sale sector's turnover ------------------------------------------------------------------------------- *288 - 313 0.80 2.79 0.80 2.68 (2.37) 301.9 7 **1211 - 1236 2.91 3.03 2.95 2.98 (3.09) 69.5 7 -------------- ---- ----- ---- ------------- ------------------ --------- Total 371.4 (992.9) 14 (13) -------------- ---- ----- ---- ------------- ------------------ --------- GRANDTOTAL 72,318.4(22,848.9) 322 (226) ------------------------------------------------------------------------------- Notes: for euronotes (* - third issue, ** - fourth issue) volumes were calculated at weighted average USD/KZT rate of the Exchange. In December the share of the Exchange's turnover in total volume of the deals made on the Kazakhstan secondary market of GS rose to 42.9%, in November it was 38.4%. [2004-01-06]