ANALYSIS: In April of 2005 volume of CS purchase and sale deals at KASE grew by 5.1% to $132.5 m.

/IRBIS, Assel Omarova, May 10, 05/ - In April of 2005 at the Kazakhstan stock exchange (KASE) 517 deals were made in corporate securities (CS) in all sectors of the market (excluding repo-transactions sector) for a total of KZT17,395.1 m. or $132.5 m. at the current rate effective on deals making dates. The stated sum is 1.9% of monthly exchange turnover (in March of 2005 - 2.3%). In comparison with March of 2005 volume of transactions has grown by $6,446.1 th. (by KZT925.9 m.) or by 5.11% (by 5.62% in terms of tenge). Relative to April of 2004 trade volume has increased by $69,880.4 th. (KZT8,744.1 m.) or 2.12 times (2.01 times in terms of tenge). Structure of CS turnover at KASE in April is presented in the following way: 3.4% of transactions volume ($4,547.9 th.) fell to the stake of primary floatations, 96.6% ($127,934.8 th.) - to the stake of purchase and sale sector. Structure of exchange's CS market in March of 2005 was as follows: 100% of all conducted deals fell to the stake of purchase and sale sector. SHARE MARKET Volume of deals in this segment rose in April 3.3 times or by $55.4 m. to the equivalent of $79.1 m. Number of shares involved into deals in April grew from 26 to 31, and number of deals fell from 212 to 210. In analyzed period 63.8% of deals in shares in quantitative expression and 79.7% in volumetric expression were direct. Corresponding indicators of March - 39.6% and 94.8%. 5% of total number of shares, which were included in KASE's trade lists as of the end of April 2005 (i.e. 4 shares - ATFBp8, VTBN, CCBN and BTAS), formed 78.3% of exchange's turnover of share market, including primary offerings. Similar indicator of March - 68.1%, February - 51.9%. April's "Top-5" leading by volume of made transactions comprised: ATFBp8 (47.5% of share turnover), VTBN (13.8%), CCBN (10.0%), BTAS (7.0%) and KKGBp (3.9%). In comparison with March only CCBN and VTBN have preserved their positions. In March first 5 positions were occupied by CCBN (27.4%), ORDB (16.8%), NFBN (12.6%), VTBN (11.3%) and ASFI (5.6%). By the number of executed deals, the indicator that adequately reflects shares' liquidity, in April VTBN (42 deals) was the leader. It followed by KKGBp (32), CCBN (15), ZERD (14) and NFBN (11). n March first five positions of the rating comprised KKGBp (49), ASFI (49), TEBN (14), ROSA (11) and NFBN (11) Within the month weighted average daily prices of 12 shares out of 31 ones involved into deals grew, prices of 11 fell, prices of 8 shares remained on the same level. BTASp grew most highly (1.6 times), ASFI fell most deeply (by 30.9%). CORPORATE BOND MARKET Relative to March 2005 volume of deals has fallen 1.9 times (by $48,986.1 th.) to $53.4 m. Range of securities involved into deals shrank to 43 (51 - in March), number of deals has risen from 211 to 307. The stake of direct deals was 23.8% of transactions in quantitative expression and 7.1% in volumetric. In March - 27.5% and 29.4%. 5% of bonds, which were included in KASE's trade lists as of the end of April (5 securities - KZIKb3, BTASb4, HSBKb8, ASFIb5 and KZNHb2), formed 47.1% of the exchange's turnover including primary offerings. Similar indicator of market's concentration in March was 59.2%, in February - 52.5%. In April 16 instruments had higher than USD1 m. turnover (in March - 20). ASFIb5 were leading by the number of made deals (37 deals). They were BTASb4 (25), KZALb1 (23), TEBNb2 (22) and TXBNb2 (22). In comparison with March only BTASb4 preserved position of leader. In April weighted average daily prices of 27 securities out of 43 ones involved into deals grew, prices of 13 - fell. There was nothing to compare prices of 3 new bonds with. BTASb3 grew most highly (by 11.8%), KZIKb4 fell most deeply (by 9.0%). Only one bond showed growth of weighted average daily dirty prices by 5% and more, whereas 2 securities showed a considerable falling of prices. Yields of 17 bonds to maturity for a buyer grew in April, yields of 23 - fell. Below are statistical and supplemental information characterizing the CS market at KASE in April of 2005. Change of KASE's securities lists in April of 2005 (by the end of month, change for the month) -------------------------------------------------- Shares: Bonds: Issuers: Category of ------ ----- ------ ----- ------ ----- admission number trend number trend number trend ----------- ------ ----- ------ ----- ------ ----- A 46 +1 101 +6 54 +2 B 39 +2 8 0 35 +2 ----------- ------ ----- ------ ----- ------ ----- A+B 85 +3 109 +6 86 +3 ----------- ------ ----- ------ ----- ------ ----- N 3 0 0 0 3 0 ----------- ------ ----- ------ ----- ------ ----- TOTAL 88 +3 109 +6 87 +3 -------------------------------------------------- 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 April of 2005 (purchase and sale only, excluding deals in SBS and including primary floatations) ------------------------------------------------------------------------------- Volume of deals: Code Brief --------- -------- Num- Market Price of name of th. m. ber of share, change, security issuer USD KZT deals % % -------- ----------------------------- --------- -------- ------ ------ ------- ATFBp8 ATFBank JSC 37,549.9 4,929.5 8 28.34 +4.71 VTBN Valut-Tranzit-Bank JSC 10,948.2 1,433.2 42 8.26 -8.52 CCBN Bank CenterCredit JSC 7,889.4 1,035.5 15 5.96 +4.45 KZIKb3 Kazakhstan Mortgage Company JSC " 7,651.0 1,004.3 6 5.78 -1.20 BTAS Bank TuranAlem JSC 5,550.0 729.9 7 4.19 -13.89 BTASb4 Bank TuranAlem JSC 5,310.5 696.3 25 4.01 -0.55 HSBKb8 Halyk savings bank of Kazakhstan JSC 4,547.9 597.8 3 3.43 - ASFIb5 Astana-Finance JSC 4,419.2 580.9 37 3.34 +1.33 KZNHb2 Kazneftekhim JSC 3,218.3 420.5 2 2.43 -0.18 KKGBp Kazkommertsbank JSC 3,119.7 410.0 32 2.35 +0.01 ORDB Ordabasy JSC 3,002.8 394.3 3 2.27 -10.00 HSBKb5 Halyk savings bank of Kazakhstan JSC 2,611.5 344.7 2 1.97 +1.97 HRLT CHARALTYN JSC 2,505.0 328.1 8 1.89 -17.85 KKGBb2 Kazkommertsbank JSC 2,402.4 316.2 3 1.81 +1.40 ASBNb1 Alliance Bank JSC 2,396.5 314.7 2 1.81 +2.69 HSBKb2 Halyk savings bank of Kazakhstan JSC 2,280.4 300.8 14 1.72 -2.78 KZALb1 Mining and metallurgical concern Kazakhaltyn JSC 2,072.2 271.9 23 1.56 +0.91 ATFBb4 ATFBank JSC 1,741.0 228.8 7 1.31 +1.68 NRBNb4 Nurbank JSC 1,544.8 204.4 1 1.17 - BTASb3 Bank TuranAlem JSC 1,520.8 200.0 2 1.15 +11.75 KZIKb7 Kazakhstan Mortgage Company JSC " 1,519.0 200.7 2 1.15 +0.07 BTAIb3 BTA Mortgage JSC 1,512.9 197.4 1 1.14 - NFBN Neftebank JSC 1,506.5 197.4 11 1.14 0 KKAGb1 Kazakhstan Kagazy JSC 1,477.4 194.4 8 1.12 -0.13 NRBNp6 Nurbank JSC 1,258.0 166.2 2 0.95 +0.07 TSBN Tcesnabank JSC 1,201.5 157.6 7 0.91 0 ROSA ROSA JSC 1,143.8 150.0 3 0.86 0 KZIKb4 Kazakhstan Mortgage Company JSC " 988.3 129.8 1 0.75 -8.95 VTBNb2 Valut-Tranzit-Bank JSC 964.4 126.0 3 0.73 +0.16 BTASp Bank TuranAlem JSC 927.8 121.4 4 0.70 +62.86 BTAIb1 BTA Mortgage JSC 641.8 84.2 7 0.48 -0.69 KARMb2 Karazhanbasmunai JSC 630.5 83.1 5 0.48 +3.83 ASFI Astana-Finance JSC 607.8 79.6 8 0.46 -30.93 KZIKb5 Kazakhstan Mortgage Company JSC " 596.4 78.3 1 0.45 -2.69 ASFIb3 Astana-Finance JSC 472.1 62.0 1 0.36 +0.61 VTZL Kazyuvelirprom JSC 459.5 60.6 6 0.35 -25.00 UKPFb1 UST-KAMENOGORSK POULTRY FIRM JSC 444.0 58.3 10 0.34 +0.06 ZERD Zerde OJSC 438.8 57.7 14 0.33 +30.00 KZASb2 KOSTANAI MINERALS JSC 375.1 49.2 10 0.28 +0.37 CCBNb6 Bank CenterCredit JSC 350.1 46.3 1 0.26 +2.45 VTBNp Valut-Tranzit-Bank JSC 349.9 45.8 7 0.26 -8.86 TXBNb3 TEXAKABANK JSC 302.7 39.5 1 0.23 +0.34 ALKSb2 Almaty Kus OJSC 285.4 37.8 10 0.22 +1.89 BTAIb2 BTA Mortgage JSC 228.4 30.1 1 0.17 +0.02 KZTK Kazakhtelecom JSC 218.4 28.8 2 0.16 -1.37 HSBK Halyk savings bank of Kazakhstan JSC 207.7 27.3 9 0.16 +55.92 ORDBb1 Corporation Ordabasy JSC 165.9 21.8 18 0.13 +0.90 TEBNb2 Temirbank JSC 134.2 17.6 22 0.10 +0.11 TEBNb Temirbank JSC 103.1 13.5 4 0.08 +0.96 TXBNb2 TEXAKABANK OJSC 94.1 12.4 22 0.07 +0.60 KZZN KAZZINC JSC 75.6 10.0 6 0.06 +29.35 BTASb1 Bank TuranAlem JSC 71.9 9.4 3 0.05 +1.54 HSBKb3 Halyk savings bank of Kazakhstan JSC 57.8 7.6 16 0.04 +1.01 VTBNb1 Valut-Tranzit-Bank JSC 57.3 7.6 2 0.04 +2.20 MREKb1 Mangisitau electricity distribution company OJSC 53.1 7.0 1 0.04 -5.13 TSBNp Tcesnabank JSC 48.4 6.4 2 0.04 0 CHFMb1 Khimpharm JSC 40.3 5.3 2 0.03 +0.04 ARNAb1 ARNA OJSC 38.4 5.0 3 0.03 +1.58 AMGZp CNPC Aktobemunaigas OJSC 35.1 4.6 1 0.03 -10.00 PRKRb1 Food contract corporation JSC 29.7 3.9 7 0.02 +1.34 KZTKp Kazakhtelecom JSC 22.7 3.0 2 0.02 +10.95 UTMKp Ust-Kamenogorsk titanium magnesium plant JSC 18.2 2.4 1 0.01 +24.96 CSBNb4 BANK CASPIAN JSC 13.1 1.7 10 0.01 -0.62 KZPSb1 Kazpost JSC 8.8 1.2 6 0.01 -4.74 UKTCb1 AES Ust-Kamenogorsk PS OJSC 6.8 0.9 1 0.01 -3.82 KANT Kant OJSC 6.1 0.8 1 0.005 -16.74 RDGZp Exploration Production KazMunaiGas JSC 5.6 0.7 1 0.004 0 TEBN Temirbank JSC 3.3 0.4 2 0.002 +8.46 ATFBp ATFBank JSC 1.1 0.2 1 0.001 +36.36 CSBN BANK CASPIAN JSC 1.1 0.1 1 0.001 0 KZIKb1 Kazakhstan Mortgage Company JSC " 0.8 0.1 1 0.001 -0.12 KZCRp TNK Kazchrome OJSC 0.5 0.1 1 <0.001 0 RAHT Rakhat OJSC 0.4 0.1 2 <0.001 0 ALKZp Aluminum Kazakhstan JSC 0.2 0.02 1 <0.001 -8.05 -------- ----------------------------- --------- -------- ------ ------ ------- TOTAL 74 132,482.7 17,395.1 517 100.0 - ------------------------------------------------------------------------------- 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 April 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 -------- ----------- ------ ----------- ----- ---------- --------- 31.03.05 4,171.2 242.96 6,125.9 7.40 173.60 8,041.4 01.04.05 4,178.9 242.75 6,093.4 7.28 174.43 791.4 04.04.05 4,232.1 246.63 6,099.9 7.37 173.63 8,758.3 05.04.05 4,261.0 246.50 6,111.4 7.41 173.60 9,241.6 06.04.05 4,257.6 246.53 6,113.3 7.36 173.94 7,374.6 07.04.05 4,252.7 244.90 6,110.5 7.44 173.87 4,264.2 08.04.05 4,239.7 246.77 6,112.1 7.43 173.64 5,549.4 11.04.05 4,235.0 246.19 6,147.8 7.42 173.81 7,073.8 12.04.05 4,240.2 247.62 6,148.9 7.33 174.36 2,169.4 13.04.05 4,241.2 247.62 6,148.7 7.32 174.43 6,669.0 14.04.05 4,237.6 248.10 6,151.3 7.31 174.59 1,583.5 15.04.05 4,220.6 249.50 6,151.8 7.37 174.60 17,774.3 18.04.05 4,219.9 254.45 6,226.1 7.41 175.01 2,539.6 19.04.05 4,182.9 254.06 6,224.6 7.40 174.48 1,132.9 20.04.05 4,301.0 254.39 6,222.7 7.39 174.62 1,962.9 21.04.05 4,260.9 254.43 6,261.7 7.47 174.23 3,062.7 22.04.05 4,301.6 297.81 6,264.1 7.49 174.14 11,591.6 25.04.05 4,274.3 256.78 6,249.4 7.48 174.29 3,161.1 26.04.05 4,303.2 258.00 6,250.6 7.50 174.18 4,919.6 27.04.05 4,331.7 259.11 6,265.1 7.49 174.24 2,278.1 28.04.05 4,357.7 266.43 6,258.2 7.41 174.82 11,925.0 29.04.05 4,367.6 265.90 6,259.4 7.46 174.62 18,659.7 -------- ----------- ------ ----------- ----- ---------- --------- Тренд +196.3 +22.95 +133.4 +0.06 +1.01 +4.7% +9.4% +2.2% +0.9% +0.6% ------------------------------------------------------------------ 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. [2005-05-10]