ANALYSIS: In March of 2005 volume of CS purchase and sale deals at KASE increased by 6.9% to $126.0 m

/IRBIS, Assel Omarova, April 4, 05/ - In March of 2005 at the Kazakhstan stock exchange (KASE) 423 deals were made in corporate securities (CS) in all sectors of the market (excluding repo-transactions sector) for a total of KZT16,469.3 m. or $126.0 m. at the current rate effective on deals making dates. The stated sum is 2.3% of monthly exchange turnover (in February 2005 - 2.0%). In comparison with February of 2005 volume of transactions has grown by $8.1 m. (KZT1,120.8 m) or by 6.86% (by 7.30% in terms of tenge). Relative to March of 2004 volume of transactions has increased by $31,136.9 m. (KZT3,281.1 m.) or 32.81% (24.88% in terms of tenge). Structure of CS turnover at KASE in March was the same as in February: 100% of all conducted deals fell to the stake of purchase and sale sector. SHARE MARKET Volume of deals volume in this segment fell in March 35.9% or by $13.3 m to the equivalent of $23.7 m. Number of shares involved into deals increased from 24 to 26, while number of deals fell from 250 to 212. In analyzed period 39.6% of deals in shares in quantitative expression and 94.8% in volumetric expression were direct. Corresponding indicators of February - 34.4% and 75.9%. Statistical characteristics of share market can be also described by parameters of market's concentration. 5% of total number of shares, which were included in KASE's trade lists as of the end of March 2005 (i.e. 4 shares - CCBN, ORDB, NFBN, VTBN), formed 68.1% of exchange's turnover. Similar indicator of February - 51.9%, January - 73.7%. Among favorites there were common shares of Bank CenterCredit JSC (CCBN, 27.4% of share turnover), ORDB (16.8%), NFBN (12.6%), VTBN (11.3%) and ASFI (5.6%). Only CCBN, VTBN and ASFI has retained their positions among top-5. In February top 5 positions of the rating belonged to CCBN (17.0%), VTBN (10.7%), ALKS (12.5%), ASFI (11.6%) and UTMK (8.8% of the whole share market). On the number of executed deals, the indicator that adequately reflects security's liquidity, in March KKGBp and ASFI (49 deals each) were the leaders. They were followed by TEBN (14), ROSA (11) and NFBN (11). IN February top 5 positions were represented by ASFI (83), KKGBp (40), CCBN (20), VTBN (16) and NFBN (15). Within the month weighted average daily prices of 13 shares out of 26 ones involved into deals grew, prices of 7 fell, prices of 5 shares remained on the same level. NRBN showed the largest growth rate (39.7%), the most rapid fall was that of ALKSp (23.1%). KASE_Shares index grew within the month by 12.2% due to positive price fluctuation of over all traded shares. CORPORATE BOND MARKET Relative to February 2005 volume of deals has grew by 26.4% (by $21,349.2 th.) to $102.4 m. Range of securities involved into deals expanded to 51 (45 - in February), number of deals has risen from 170 to 211. The stake of direct deals was 27.5% of transactions in quantitative expression and 29.4% in volumetric. In February - 20.0% and 16.6%. 5% of bonds, which were included in KASE's trade lists as of the end of March (5 securities - BTASb4, ATFBb4, VTZLb1, KZIKb3 and KZTCb1), formed 59.2% of the exchange's turnover including primary offerings. Similar indicator of market's concentration in February was 52.5%, in January - 51.8%. In March 20 instruments had higher than USD1 m. turnover (in February - 16). BTASb4 were leading by the number of made deals (37 deals) followed by VTZLb1 (14 deals) and KZASb2 (12). In March weighted average daily prices of 36 securities out of 51 ones involved into deals grew, prices of 12 - fell. There was nothing to compare prices of 3 new bonds with. KZIKb2 (12.5%) grew most of all, TEBNb2 fell most of all (by 9.1%). Weighted average daily gross prices of 5 bonds grew by 5% and more, and prices of 3 securities fell so considerably. Yields of 21 bonds to maturity for a buyer grew in March, yields of 18 - 27. Below are statistical and supplemental information characterizing the CS market at KASE in February of 2005. Change of KASE's securities lists in March of 2005 (by the end of month, change for the month) -------------------------------------------------- Shares: Bonds: Issuers: Category of ------------ ------------ ------------ admission number trend number trend number trend ----------- ------ ----- ------ ----- ------ ----- A 45 0 95 +3 52 0 B 37 0 8 0 33 0 ----------- ------ ----- ------ ----- ------ ----- A+B 82 0 103 +3 83 0 ----------- ------ ----- ------ ----- ------ ----- N 3 +1 0 0 3 +1 ----------- ------ ----- ------ ----- ------ ----- TOTAL 85 +1 103 +3 84 0 -------------------------------------------------- Notes: "A" - official "A" listing category; "B" - official "B" listing category; "A+B" - official list; "N" - "Non-listing securities" sector. Most tradable CS at KASE in March of 2005 (purchase and sale only, excluding deals in SBS and primary floatations) --------------------------------------------------------------------------- Volume of deals: Code Brief --------- -------- Num- Market Price of name of th. m. ber of share, change, security Issuer USD KZT deals % % -------- ------------------------- --------- -------- ------ ------ ------- BTASb4 Bank TuranAlem JSC 38,303.7 5,005.4 37 30.4 +2.01 CCBN Bank CenterCredit JSC 6,475.2 851.2 8 5.1 0 ATFBb4 ATFBank JSC 5,998.5 781.6 4 4.8 -0.08 VTZLb1 Kazuvelirprom JSC 5,974.6 780.2 14 4.7 +0.88 KZIKb3 Kazakhstan Mortgage Company JSC 5,893.6 768.8 8 4.7 -3.94 KZTCb1 KazTransCom JSC 4,388.7 573.6 6 3.5 -1.46 KZAPb1 Kazatomprom NNC 4,096.9 533.5 1 3.3 +0.43 ORDB Ordabasy Corporation JSC 3,986.1 519.7 7 3.2 +11.11 KKGBb2 Kazkommertsbank JSC 3,684.4 480.1 7 2.9 +3.17 CCBNb4 Bank CenterCredit JSC 3,431.4 447.5 2 2.7 +0.84 KZIKb4 Kazakhstan Mortgage Company JSC 3,203.4 416.1 3 2.5 +1.82 TXBNb2 TEXAKABANK JSC 3,161.0 410.7 10 2.5 +3.61 NFBN NEFTEBANK JSC 2,986.3 391.9 11 2.4 -0.68 VTBN Valut-Tranzit-Bank JSC 2,664.7 347.2 8 2.1 +10.99 ASFIb5 Astana-Finance JSC 2,355.1 311.2 6 1.9 - KKGBe2 Kazkommertsbank JSC 1,955.2 255.0 2 1.6 +0.71 KARMb2 Karazhanbasmunai OJSC 1,753.8 228.8 3 1.4 -3.24 NRBNb2 Nurbank JSC 1,720.2 224.3 1 1.4 +2.54 KZASb2 Kostanai Minerals JSC 1,701.3 222.3 12 1.3 +0.89 KZIKb6 Kazakhstan Mortgage Company JSC 1,653.0 215.4 6 1.3 -0.31 KZNHb2 Kazneftechim JSC 1,644.0 213.7 3 1.3 +0.22 KZIKb7 Kazakhstan Mortgage Company JSC 1,513.4 200.6 3 1.2 +0.29 ASFI Astana-finance JSC 1,321.9 175.1 49 1.0 +14.66 NRBNp6 Nurbank JSC 1,253.3 166.1 2 1.0 +3.03 CSBNb4 Bank Caspian JSC 1,147.9 150.0 2 0.9 +0.62 KZTK Kazakhtelecom JSC 1,099.1 143.4 9 0.9 +30.46 TSBNb1 Tsesnabank JSC 1,070.1 139.6 2 0.8 +1.59 TEBN Temirbank JSC 860.3 112.2 14 0.7 +4.50 TEBNb3 Temirbank JSC 843.9 110.1 1 0.7 +1.95 CSBN Bank Caspian JSC 623.6 82.7 1 0.5 -0.01 VTBNb2 Valut-Tranzit-Bank JSC 582.0 75.8 4 0.5 +1.62 KZIKb2 Kazakhstan Mortgage Company JSC 544.2 70.9 2 0.4 +12.48 ASBNb2 Alliance Bank JSC 524.7 68.4 2 0.4 +0.82 VTBNb1 Valut-Tranzit-Bank JSC 514.5 66.9 2 0.4 +0.48 TXBNb3 TEXAKABANK JSC 499.6 66.0 3 0.4 - KKAGb1 Kazakhstan Kagazy JSC 473.9 62.8 1 0.4 - TXBNb1 TEXAKABANK JSC 433.1 56.3 1 0.3 +0.77 KZALb1 Kazakhaltyn Ore-mining Concern JSC 425.0 55.2 6 0.3 -1.09 VTBNp Valut-Tranzit-Bank JSC 413.5 54.0 10 0.3 +6.30 ARNAb1 ARNA OJSC 393.6 51.3 1 0.3 -5.05 KZIKb5 Kazakhstan Mortgage Company JSC 384.8 50.0 1 0.3 +2.45 UKPFb1 UST-KAMENOGORSK POULTRY FARM OJSC 383.2 50.1 12 0.3 +1.63 NRBN Nurbank JSC 369.2 48.1 1 0.3 +39.70 KKGBp Kazkommertsbank JSC 351.0 45.8 49 0.3 0 ASBNb1 Alliance Bank JSC 345.4 45.0 1 0.3 +8.22 HSBKp Halyk Saving Bank Kazakhstan JSC 291.4 38.0 1 0.2 -2.80 CHFMb1 Chimfarm JSC 241.7 31.4 1 0.2 -3.56 KZZN KAZZINK JSC 211.9 27.6 4 0.2 +29.81 ZERD Zerde OJSC 195.4 25.5 5 0.2 0 ORDBp Ordabasy Corporation JSC 188.4 25.0 3 0.1 +21.95 ALKSb2 Almaty Kus OJSC 151.7 19.9 11 0.1 +2.62 BTASb1 Bank TuranAlem JSC 143.9 18.9 5 0.1 -1.32 HSBKb2 Halyk Saving Bank Kazakhstan JSC 140.5 18.5 3 0.1 +2.93 VTZL Kazuvelirprom JSC 131.3 17.4 3 0.1 -6.58 CCBNb1 Bank CenterCredit JSC 125.2 16.3 1 0.1 +2.47 CHFM Chimfarm JSC 118.9 15.7 2 0.1 +22.22 RGBRb3 RG Brands JSC 96.8 12.6 1 0.1 +1.34 ROSA ROSA JSC 82.1 10.7 11 0.1 0 ATFBb3 ATFBank JSC 81.6 10.8 2 0.1 +6.96 KZPSb1 Kazpost JSC 78.1 10.2 1 0.1 +1.10 HSBKb Halyk Saving Bank Kazakhstan JSC 56.5 7.4 2 0.04 +3.49 TEBNb Temirbank JSC 50.3 6.6 1 0.04 -0.91 PRKRb1 Food Contract Corporation JSC 40.3 5.3 3 0.03 +6.89 HSBKe1 Halyk Saving Bank Kazakhstan JSC 33.5 4.4 1 0.03 +0.42 HSBKb3 Halyk Saving Bank Kazakhstan JSC 32.9 4.3 2 0.03 +2.28 HSBKb7 Halyk Saving Bank Kazakhstan JSC 30.0 3.9 1 0.02 +6.07 ASFIb4 Astana-Finance JSC 29.0 3.8 2 0.02 +4.27 TEBNb2 Temirbank JSC 25.6 3.4 3 0.02 -9.13 HSBK Halyk Saving Bank Kazakhstan JSC 22.0 2.9 3 0.02 -20.31 RDGZp KazMunaiGas Exploration Production JSC 11.8 1.6 2 0.01 - KZCRp TNC Kazchrom JSC 7.9 1.0 4 0.01 0 BTASb2 Bank TuranAlem JSC 6.4 0.9 1 0.01 -5.10 UKTCb1 AES Ust-Kamenogorsk TEC OJSC 3.9 0.5 1 0.003 +1.12 AMGZ CNPC-Aktobemunaigas OJSC 2.4 0.3 1 0.002 +5.98 ALKSp Almaty-Kus OJSC 1.2 0.2 1 0.001 -23.08 ALKZp Alluminium Kazakhstan OJS 1.1 0.1 2 0.001 +8.75 CSBNp BANK CASPIAN JSC 0.2 0.03 1 <0.001 -0.01 -------- ------------------------- --------- -------- ------ ------ ------- TOTAL 77 126,036.6 16,469.3 423 100.0 - --------------------------------------------------------------------------- Comments: 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 exchange's CS market in March of 2005 ------------------------------------------------------------------ Capitaliza- Capitaliza- tion tion Bond value Volume of of the of the index, purchase share bonds Bonds including and sale market, Share market, yield accum deals, Date m. USD index m. USD index interest th. USD -------- ----------- ------ ----------- ----- ---------- --------- 28.02.05 3,859.1 216.47 5,403.1 7.19 173.52 8,909.0 01.03.05 4,017.0 213.86 5,403.4 7.18 173.51 5,933.8 02.03.05 4,118.2 221.67 5,413.0 7.35 172.70 6,669.7 03.03.05 4,114.2 212.43 5,413.2 7.32 172.87 5,829.4 04.03.05 4,115.8 214.45 5,420.2 7.20 173.67 4,321.1 05.03.05 4,172.3 214.45 5,424.4 7.32 173.00 400.2 09.03.05 4,190.5 218.62 5,420.4 7.20 173.86 3,714.9 10.03.05 4,190.6 219.92 5,420.8 7.34 173.16 15,492.5 11.03.05 4,190.9 227.27 5,420.1 7.24 173.82 3,723.3 14.03.05 4,146.3 223.48 5,423.6 7.37 173.18 9,896.7 15.03.05 4,192.6 223.89 5,421.4 7.34 173.33 1,895.4 16.03.05 4,191.6 224.11 5,419.5 7.34 173.39 3,346.9 17.03.05 4,232.1 240.89 5,420.5 7.38 173.18 2,455.0 18.03.05 4,223.9 229.34 5,412.6 7.42 173.03 5,304.3 19.03.05 4,228.5 233.63 5,415.6 7.44 173.00 6,309.1 23.03.05 4,244.7 236.04 5,406.5 7.42 173.20 6,270.8 24.03.05 4,254.0 239.24 5,403.1 7.45 173.04 18,923.8 25.03.05 4,232.0 239.92 5,952.5 7.47 172.96 2,133.6 28.03.05 4,211.0 239.71 5,937.5 7.39 173.49 1,812.8 29.03.05 4,180.6 239.35 6,126.3 7.47 173.15 11,149.8 30.03.05 4,174.6 241.64 6,122.1 7.50 173.04 2,412.3 31.03.05 4,171.2 242.96 6,125.9 7.40 173.60 8,041.4 -------- ----------- ------ ----------- ----- ---------- --------- Trend +312.1 +26.48 +722.9 +0.21 +0.08 +8.1% +12.2% +13.4% +3.0% +0.05% ------------------------------------------------------------------ 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. 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. [2005-04-04]