In February of 2004 volume of deals in KASE's repo sector increased by 2.6% to KZT356.3 bn

/IRBIS, Assel Omarova, Andrey Tsalyuk, March 4, 04/ - In February of 2004 at Kazakhstan stock exchange (KASE) in repo-transactions sector there were registered 2,838 deals to the total amount of KZT356.3 bn. or USD2,560.3 m. at the current rate on deals making date, that is 75.4% of the whole February's turnover. In comparison with January of 2004 volume of transactions increased by KZT9,120.1 m. ($94.9 m.) or by 2.6% (by 3.8% in terms of dollar). Relative to February of 2003 volume of transactions increased by KZT133.0 bn. ($1,103.8 m.) or by 59.6% (by 75.8% in terms of dollar). Structure of repo market's turnover at KASE in February, which was calculated in tenge equivalent, was as follows: - the stake of automatic repo transactions was 89.6% of the sector's turnover (KZT319.4 bn.), including deals in Government securities (GS) - 89.3% (KZT318.2 bn.), deals in corporate securities (CS) - 0.3% (KZT1,214.6 m.); - the stake of repo transactions made by direct deals method, was 10.4% of the sector's turnover (KZT37.0 bn.), including deals in GS - 8.5% (KZT30.5 bn.), deals in CS - 1.8% (KZT6,504.5 m.). For comparison, structure of stock exchange's repo market in 2003 was characterized by the following indexes: autorepo - 85.8% (GS - 85.2%; CS - 0.6%); repo by direct method - 14.2% (GS - 12.8%; CS - 1.4%). Below are tables, which characterize KASE's repo sector in February of 2004 on opening transactions in tenge. Automatic repo in GS - 89.3% of the market --------------------------------------------------------------------------- Repo rate, % APR Instrument ------------------------------------- Volume, Num- Stake of (currency, on first mini- maxi- on last weighted m ber of market, term, days) deal mum mum deal average KZT deals % ----------- -------- ----- ----- ------- -------- --------- ------ -------- KZT_001 3.00 0.20 20.00 1.00 2.68 146,331.8 1,091 92.2 KZT_002 3.00 0.50 3.00 3.00 1.00 1,330.0 5 0.8 KZT_003 3.00 2.00 8.00 8.00 3.10 921.0 15 0.6 KZT_007 3.00 2.00 4.50 3.20 3.98 4,785.0 42 3.0 KZT_014 3.50 3.00 5.50 3.40 3.97 2,071.0 36 1.3 KZT_028 4.00 3.50 5.00 3.70 4.05 3,335.0 52 2.1 ----------- -------- ----- ----- ------- -------- --------- ------ -------- TOTAL 158,773.9 1,241 100 --------------------------------------------------------------------------- Automatic repo in CS - 0.3% of the market ------------------------------------------------------------------------- Repo rate, % APR Instrument ------------------------------------- Volume, Num- Stake of (security, on first mini- maxi- on last weighted m ber of market, term, days) deal mum mum deal average KZT deals % ----------- -------- ----- ----- ------- -------- ------- ------ -------- ALKS_028 7.00 7.00 21.0 1 3.9 ASBNb1_007 4.00 4.00 6.0 1 1.1 ASFIb2_002 5.20 5.20 30.0 1 5.6 ASFIb2_021 7.50 7.50 41.0 1 7.7 ASFIb2_030 8.00 8.00 10.0 1 1.9 BTASb2_028 8.50 8.50 90.0 1 16.8 CCBN_001 5.20 4.50 5.20 4.50 4.85 100.0 2 18.7 CCBN_030 8.00 8.00 10.0 1 1.9 KARMb2_007 7.00 7.00 29.0 1 5.4 KZIKb1_001 5.00 5.00 10.0 1 1.9 KZIKb1_003 5.50 5.50 5.50 5.50 5.50 60.0 2 11.2 ORDBb1_028 6.60 6.60 6.70 6.70 6.64 28.0 2 5.2 VTBNb1_001 5.20 5.20 30.0 1 5.6 VTBNp__028 8.00 8.00 8.00 8.00 8.00 70.0 2 13.1 ----------- -------- ----- ----- ------- -------- ------- ------ -------- TOTAL 535.0 18 100.0 ------------------------------------------------------------------------- Repo on direct deals in GS - 8.5% of the market ---------------------------------------------------------------------- Repo rate, % APR Term of ------------------------------------- Volume, Num- Stake of repo, on first mini- maxi- on last weighted m ber of market, days deal mum mum deal average KZT deals % ------- -------- ----- ----- ------- -------- -------- ------ -------- 1 2.50 0.50 15.00 3.49 3.30 6,426.4 47 36.6 3 2.00 0.50 3.00 0.80 2.43 2,499.1 13 14.2 4 2.00 2.00 2.00 2.00 2.00 4,636.4 12 26.4 7 3.30 3.00 6.50 6.50 3.47 798.5 7 4.6 10 3.70 3.70 37.7 1 0.2 14 5.00 3.40 5.00 3.40 3.60 449.6 3 2.6 15 3.20 3.20 20.4 1 0.1 22 4.50 4.50 4.50 4.50 4.50 47.0 6 0.3 24 5.00 5.00 5.00 5.00 5.00 68.8 5 0.39 25 4.50 4.50 4.50 4.50 4.50 71.3 2 0.41 28 3.05 3.05 4.60 4.60 3.30 2,490.4 4 14.2 ------- -------- ----- ----- ------- -------- -------- ------ -------- TOTAL 17,545.7 101 100.0 ---------------------------------------------------------------------- Repo on direct deals in CS - 1.8% of the market --------------------------------------------------------------------- Repo rate, % APR ---------------------------- Subject Term of ----- ----- ------- -------- Volume, Num- Stake of of repo, mini- maxi- on last weighted m ber of market, repo days mum mum deal average KZT deals % -------- ------- ----- ----- ------- -------- ------- ------ -------- ALKS 7 5.21 10.43 5.21 7.12 6.3 2 0.18 14 6.95 10.0 1 0.28 21 8.55 20.3 1 0.57 24 7.10 80.0 1 2.25 31 9.42 76.0 1 2.14 34 8.71 52.0 1 1.46 60 8.96 81.0 1 2.28 182 10.03 8.0 1 0.23 319 12.01 27.9 1 0.79 366 5.98 11.97 11.97 7.98 135.0 2 3.80 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 496.6 12 13.98 -------- ------- ----- ----- ------- -------- ------- ------ -------- ALKSb2 31 10.00 1.0 1 0.03 -------- ------- ----- ----- ------- -------- ------- ------ -------- ARNAb1 17 8.00 8.00 8.00 8.00 41.3 2 1.16 -------- ------- ----- ----- ------- -------- ------- ------ -------- ASBNb1 31 9.98 2.3 1 0.06 -------- ------- ----- ----- ------- -------- ------- ------ -------- BRKZb1 30 8.00 150.0 1 4.22 -------- ------- ----- ----- ------- -------- ------- ------ -------- BTASb2 29 5.00 5.00 5.00 5.00 63.3 2 1.78 -------- ------- ----- ----- ------- -------- ------- ------ -------- CCBN 1 3.61 15.6 1 0.44 25 9.05 18.7 1 0.53 29 10.00 14.6 1 0.41 33 10.01 20.4 1 0.58 89 10.13 100.0 1 2.81 90 10.02 100.0 1 2.81 182 13.01 130.0 1 3.66 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 657.2 14 18.50 -------- ------- ----- ----- ------- -------- ------- ------ -------- CSBNb2 6 8.00 97.2 1 2.74 -------- ------- ----- ----- ------- -------- ------- ------ -------- HRLT 366 9.12 9.12 9.12 9.12 300.0 4 8.44 -------- ------- ----- ----- ------- -------- ------- ------ -------- HSBK 3 3.74 2.9 1 0.08 -------- ------- ----- ----- ------- -------- ------- ------ -------- HSBKb 1 3.00 40.0 1 1.13 9 5.00 13.0 1 0.37 14 5.00 6.00 5.00 5.59 53.0 2 1.49 29 10.00 10.00 10.00 10.00 50.0 7 1.41 319 7.00 1.3 1 0.04 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 557.3 18 15.69 -------- ------- ----- ----- ------- -------- ------- ------ -------- KZIKb2 1 3.18 201.2 1 5.66 7 4.05 7.93 7.93 5.84 218.8 2 6.16 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 420.0 3 11.82 -------- ------- ----- ----- ------- -------- ------- ------ -------- KZMS 11 10.01 5.0 1 0.14 -------- ------- ----- ----- ------- -------- ------- ------ -------- NRBNb2 1 4.00 110.9 1 3.12 7 4.00 83.2 1 2.34 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 199.1 3 5.60 -------- ------- ----- ----- ------- -------- ------- ------ -------- ORDBb1 21 8.00 23.5 1 0.66 29 1.00 7.00 1.00 5.99 59.6 2 1.68 45 7.00 225.6 1 6.35 268 7.00 2.1 1 0.06 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 310.9 5 8.75 -------- ------- ----- ----- ------- -------- ------- ------ -------- RGBRb3 14 7.90 150.5 1 4.24 21 7.95 17.2 1 0.48 29 7.02 65.0 1 1.83 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 232.7 3 6.55 -------- ------- ----- ----- ------- -------- ------- ------ -------- TEBN 23 8.00 10.0 1 0.28 29 10.01 2.0 1 0.06 121 11.00 37.7 1 1.06 182 10.00 10.0 1 0.28 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 59.7 4 1.68 -------- ------- ----- ----- ------- -------- ------- ------ -------- TXBNb1 29 12.00 3.0 1 0.08 -------- ------- ----- ----- ------- -------- ------- ------ -------- TXBNb2 20 8.06 99.6 1 2.80 -------- ------- ----- ----- ------- -------- ------- ------ -------- UTMK 15 6.50 72.0 1 2.03 -------- ------- ----- ----- ------- -------- ------- ------ -------- VTBN 1 5.85 80.0 1 2.25 16 8.02 23.5 1 0.66 23 10.02 71.3 1 2.01 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 349.5 6 9.84 -------- ------- ----- ----- ------- -------- ------- ------ -------- VTBNb1 4 9.50 18.0 1 0.51 22 7.00 6.0 1 0.17 23 7.50 8.00 8.00 7.61 46.0 2 1.29 25 8.50 20.0 1 0.56 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 90.0 5 2.53 -------- ------- ----- ----- ------- -------- ------- ------ -------- VTTHb1 29 10.95 15.3 1 0.43 -------- ------- ----- ----- ------- -------- ------- ------ -------- VTZLb1 366 9.00 150.0 1 4.22 -------- ------- ----- ----- ------- -------- ------- ------ -------- ZERD 7 5.21 5.21 5.21 5.21 14.3 2 0.40 -------- ------- ----- ----- ------- -------- ------- ------ -------- TOTAL 3,552.7 77 100.00 --------------------------------------------------------------------- Stake of stock exchange's turnover in total volume of repo deals of Kazakhstan secondary market in February of 2004 equaled to 96.8%, in January of 2004 - 97.0%. Results of the made analysis show that February's repo market was almost identical with January's one by the conjuncture and main indicators. [2004-03-04]