ANALYSIS: In July of 2005 volume of CS purchase and sale deals on KASE increased by 30.1% to $226.7 m.

/IRBIS, Assel Omarova, August 8, 05/ - In July of 2005 on the Kazakhstan stock exchange (KASE) 445 deals were made in corporate securities (CS) in all sectors of the market (excluding repo-transactions sector) for a total of KZT30,771.8 m. or $226.7 m. at the current rate effective on deals making dates. The stated sum is 3.2% of monthly exchange turnover (in June of 2005 - 1.9%). In comparison with June of 2005 volume of transactions has grown by $52,515.8 th. (KZT7,361.8 m.) or by 30.1% (by 31.4% in terms of tenge). Relative to July of 2004 volume of transactions has increased by $72,980.2 th. (KZT9,914.4 m.) or by 47.46% (by 47.53% in terms of tenge). Structure of CS turnover on KASE in July was follows: stake of purchase and sale sector was 99.0% of all made deals volume ($224,551.5 th.); The stake of SBS sector - 1.0% ($2,186.6 th.). Structure of exchange's CS market in June of 2005: the whole volume of made deals fell to the stake of purchase and sale sector. STATE BLOCK OF SHARES MARKET In July first in year 2005 trades were held in this sector. Initiator of the trades was the Committee of state property and privatization of the Ministry of finance of the Republic of Kazakhstan, which in association with Information- registration center JSC (Almaty) on July 28 of 2005 exhibited to the trades under NZ_VGOK_5 code by indivisible lot of 107,906 common shares KZ1С49770015, that was 5.00% from total number of placed shares of Joint venture Vasilkovskoye zoloto JSC. One KASE member participated in trades, who submitted 2 bids for purchase of SBS by prices KZT2,710.00 and KZT2,750.00 per share. To the moment when time for submission of bids expired, KASE trade system had one active bid for purchase of SBS by KZT2,750.00 per share for the amount KZT296,741,500.00. By the results of trades the seller decided to satisfy the remaining active bid, having sold SBS by demand price. Taking into account average weighted tenge rate to USA dollar, formed at KASE morning session on the day when trades were organized (KZT135.71 per dollar), SBS of Joint venture Vasilkovskoye zoloto JSC was sold by USD2.2 m. by the rate $20.26 per share. At present shares of Joint venture Vasilkovskoye zoloto JSC are absent in KASE's securities lists. Trades in them on KASE are not held. These shares (NIN - KZ1С25901611) were brought to KASE's "Non-listing securities" sector since September 26 of 2002 under VGOK symbol and were excluded from the sector's lists on January 7 of 2004 because of absence of deals in them within the last three months. For the whole period of trades, during which VGOK were in KASE's lists, the only exchange's deal was made in them. On September 26 of 2002 a shareholding consisting of 10 shares was sold by a direct deal at KZT160.00 per share. It's notable that bid and offer on VGOK were submitted by KASE's members to its trade system only on that day. On other days bid and offer were absent. SHARE MARKET Turnover in this segment grew in July by 38.7% or by $27.9 m to the equivalent of $99.9 m. Number of shares involved into deals grew from 25 to 30, number of deals - from 197 to 207. In the analyzed period 48.8% of deals in shares in quantitative expression and 73.6% in volumetric expression were direct. Corresponding indicators of June - 59.9% and 65.5%. 5% of total number of shares, which were included in KASE's trade lists as of the end of July 2005 (i.e. 4 shares - AMGZ, CCBN, HRLT and ORNK), formed 71.4% of exchange's turnover. Similar indicator of June - 72.4%, January - 75.2%. July's "top-5" by the volume of made transactions comprised: AMGZ (30.7% of share turnover), CCBN (23.4%), HRLT (10.5%), ORNK (6.8%) and KKGBp (6.6%). No share has preserved position in the top-5. In last month the first 5 positions belonged to ORDB (24.5%), TEBNp (20.9%), BTAS (16.9%), VTBN (10.1%) and TEBN (7.5% of the whole share market). Weighted average daily prices of 12 shares out of 30 ones involved into deals in July grew, prices of 9 - fell, prices of 7 shares remained unchanged. There was nothing to compare prices of ORNK and CCBNp with. AMGZ grew most highly (3.7 times), AMGZp fell most deeply (2.1 times). KASE_Shares grew in July (table below) mainly due to growth of demand prices for AMGZ, KZTK and KZZN. CORPORATE BOND MARKET Relative to June of 2005 volume of deals has grown by 22.0% (by $22,450.9 th.) to $124.7 m. Range of securities involved into deals narrowed to 44 (50 - in June), number of deals has fallen from 350 to 237. The stake of direct deals was 6.8% of transactions in quantitative expression and 3.5% in volumetric. In June - 18.0% and 32.2%. 5% of bonds, which were included in KASE's trade lists as of the end of July (6 securities - NRBNb4, ATFBb5, KKGBb2, BTAIb5, BTASb2 and BTAIb7), formed 57.1% of the exchange's turnover including primary offerings. Similar indicator of market's concentration in June was 47.6%, in May - 51.8%. In July 23 instruments had higher than USD1 m. turnover (in June - 24). TXBNb2 were leading by the number of made deals (24 deals). They were followed by KZALb1 (23), TEBNb2 (23), HSBKb3 (21) and KZPSb1 (20). Only HSBKb3, TXBNb2, TEBNb2 and KZALb1 have kept leading positions in comparison with June. In July weighted average daily prices of 27 securities out of 44 ones involved into deals grew, prices of 14 - fell. There was nothing to compare prices of 3 new bonds with. BTASb2 grew most highly (by 12.5%), TEBNb fell most deeply (by 3.7%). Weighted average daily dirty prices of 6 bonds grew by 5% and more, and no security's prices fell so considerably. Yields of 19 bonds to maturity for a buyer grew in July, yields of 22 - fell. Below are statistical and supplemental information characterizing the CS market on KASE in July of 2005. Change of KASE's securities lists in July of 2005 (by the end of month, change for the month) -------------------------------------------------------- Shares: Bonds: Issuers: Category of ------------- ------------- ------------- admission number trend number trend number trend ----------- ------ ----- ------ ----- ------ ----- A 48 +1 118 +3 55 0 B 39 0 6 0 35 0 ----------- ------ ----- ------ ----- ------ ----- A+B 87 +1 124 +3 88 0 ----------- ------ ----- ------ ----- ------ ----- N 4 +1 0 0 4 +1 ----------- ------ ----- ------ ----- ------ ----- TOTAL 91 +2 124 +3 90 +1 -------------------------------------------------------- Notes: "A" - official "A" listing category; "B" - official "B" listing category; "A+B" - official list; "N" - "Non-listing securities" sector. Most tradable CS on KASE in July of 2005 (purchase and sale only, excluding deals in SBS and primary offerings) ----------------------------------------------------------------------------- Volume of deals: Code Brief --------- -------- Num- Market Price of name of th. m. ber of share, change, security Issuer USD KZT deals % % -------- --------------------------- --------- -------- ------ ------ ------- AMGZ CNPC - Aktobemunaygas JSC 30,614.7 4,156.3 2 13.63 +271.59 NRBNb4 Nurbank JSC 24,277.6 3,297.2 7 10.81 -2.55 CCBN Bank CenterCredit JSC 23,356.1 3,167.5 44 10.40 0 ATFBb5 ATFBank JSC 15,921.6 2,160.3 6 7.09 +0.79 HRLT CHARALTYN JSC 10,517.0 1,426.1 6 4.68 +20.69 KKGBb2 Kazkommertsbank JSC 8,620.8 1,173.2 4 3.84 +4.67 BTAIb5 BTA Ipoteka JSC 7,598.9 1,028.7 8 3.38 +0.84 BTASb2 Bank TuranAlem JSC 7,469.8 1,015.0 7 3.33 +12.48 BTAIb7 BTA Ipoteka JSC 7,331.2 995.1 1 3.26 , CSBNb6 BANK CASPIAN JSC 7,280.9 988.9 5 3.24 +0.74 ORNK Ornek XXI JSC 6,828.1 926.6 8 3.04 , KKGBp Kazkommertsbank JSC 6,559.7 888.1 26 2.92 -2.77 ASBNb4 Alliance Bank JSC 5,934.1 806.1 2 2.64 +1.06 NFBN Neftebank JSC 4,762.3 646.3 6 2.12 0 TEBNb4 Temirbank JSC 4,152.0 564.0 1 1.85 , BTAIb6 BTA Ipoteka JSC 3,897.0 530.1 2 1.74 +0.58 KZIKb3 Kazakhstan Mortgage Company JSC 3,111.4 422.3 4 1.39 +1.94 NRBNb2 Nurbank JSC 3,108.9 422.4 2 1.38 +5.92 AMGZp CNPC - Aktobemunaygas JSC 3,030.6 411.4 2 1.35 -52.96 TEBNp Temirbank JSC 2,437.6 330.3 15 1.09 +5.99 ASBN Alliance Bank JSC 2,417.0 328.0 1 1.08 -15.24 PRKRb1 Food contract corporation JSC 2,334.0 316.3 6 1.04 -0.31 NRBNb3 Nurbank JSC 2,232.4 303.0 1 0.99 -2.11 KZIKb7 Kazakhstan Mortgage Company JSC 2,133.6 289.5 1 0.95 -0.09 ASBNp1 Alliance Bank JSC 1,930.1 261.8 3 0.86 +0.81 KZNHb2 Kazneftechim JSC 1,921.0 260.7 3 0.86 -0.13 ATFBp8 ATFBank JSC 1,703.9 230.5 7 0.76 +27.00 TXBNb2 TEXAKABANK JSC 1,653.3 224.4 24 0.74 +0.69 ASFIb6 Astana-Finance JSC 1,541.0 209.2 2 0.69 -3.14 ASBNb2 Alliance Bank JSC 1,498.9 203.6 3 0.67 +0.39 KZIKb5 Kazakhstan Mortgage Company JSC 1,487.0 201.8 2 0.66 +0.33 KZALb1 Mining-smelting concern Kazakhaltyn JSC 1,359.9 183.9 23 0.61 -1.25 TEBN Temirbank JSC 1,320.3 178.9 12 0.59 +4.20 HSBKb2 Halyk savings bank of Kazakhstan JSC 1,165.8 158.3 8 0.52 +1.11 ATFBb4 ATFBank JSC 1,140.3 154.8 4 0.51 +3.18 UKPFb1 UST-KAMENOGORSK POULTRY FARM OJSC 886.8 120.4 5 0.39 +1.49 ORDB Corporation Ordabasy JSC 847.0 114.8 2 0.38 0 VTBN Valut-Tranzit-Bank JSC 791.1 107.1 3 0.35 0 BTASb4 Bank TuranAlem JSC 779.4 105.4 4 0.35 +7.19 KKAGb1 Kazakhstan Kagazy JSC 774.5 104.9 2 0.34 +0.76 KZIKb1 Kazakhstan Mortgage Company JSC 764.7 103.9 1 0.34 +0.49 TXBNb3 TEXAKABANK JSC 731.9 99.1 1 0.33 -2.16 KZZN KAZZINC JSC 651.8 88.6 28 0.29 -43.99 RAHT Rakhat JSC 648.9 88.1 6 0.29 +10.00 VTBNb3 Valut-Tranzit-Bank JSC 589.9 80.0 1 0.26 +0.36 VTBNb2 Valut-Tranzit-Bank JSC 481.6 65.4 1 0.21 +5.96 ASFIb5 Astana-Finance JSC 459.5 62.4 4 0.20 -3.60 CCBNp Bank CenterCredit JSC 454.6 61.7 1 0.20 , CSBNb4 BANK CASPIAN JSC 365.9 49.5 7 0.16 +0.71 KZAPb1 NAC Kazatomprom 365.5 49.6 1 0.16 -1.06 KZTK Kazakhtelecom JSC 355.8 48.3 5 0.16 +8.91 KZASb2 KOSTANAY MINERALS JSC 259.7 35.3 1 0.12 +0.45 ROSAb1 ROSA JSC 249.8 33.9 1 0.11 -0.23 ALKSb2 Almaty Kus JSC 209.4 28.4 12 0.09 +5.42 VTZL Kazyuvelirprom JSC 168.0 22.8 3 0.07 -1.19 KATRb1 KazAgroTrade+ LLP 149.6 20.3 2 0.07 , CCBNb2 Bank CenterCredit JSC 128.1 17.4 1 0.06 +1.36 ASFI Astana-Finance JSC 128.0 17.4 2 0.06 0 BTAS Bank TuranAlem JSC 116.1 15.8 2 0.05 +39.29 ATFBb2 ATFBank JSC 100.4 13.7 1 0.04 +11.69 HSBK Halyk savings bank of Kazakhstan JSC 80.1 10.8 5 0.04 -0.01 BTASb1 Bank TuranAlem JSC 70.0 9.5 1 0.03 +0.45 TEBNb2 Temirbank JSC 62.7 8.5 23 0.03 +0.26 BTASp Bank TuranAlem JSC 44.2 6.0 1 0.02 -38.46 HSBKb3 Halyk savings bank of Kazakhstan JSC 43.1 5.9 21 0.02 -0.64 ATFBp ATFBank JSC 37.6 5.1 4 0.02 -2.50 TEBNb Temirbank JSC 28.8 3.9 1 0.01 -3.71 KZPSb1 Kazpost JSC 28.6 3.9 20 0.01 -0.14 UTMKp Ust-Kamenogorsk titanium- magnesium combine JSC 22.7 3.1 2 0.01 +37.50 ZERD Zerde JSC 12.2 1.7 4 0.01 -14.71 KZTKp Kazakhtelecom JSC 10.9 1.5 1 0.005 +30.06 CSBN BANK CASPIAN JSC 2.4 0.3 1 0.001 +2.60 ALKZp Aluminium of Kazakhstan JSC 1.3 0.2 3 0.001 0 KZCRp TNC Kazchrome JSC 0.4 0.05 2 <0.001 0 -------- --------------------------- --------- -------- ------ ------ ------- TOTAL 74 224,551.5 30,475.1 444 100.0 - ----------------------------------------------------------------------------- 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 ordinal 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 July of 2005 ------------------------------------------------------------------------- Capitaliza- Capitaliza- tion tion Bond value Volume of of the of the index, purchase share bond Bonds including and sale market, Share market, yield accum deals, Date m. USD index m. USD index interest th. USD -------- ----------- ------ ----------- ------ ---------- --------- 30.06.05 4,897.3 311.87 6,776.5 7.42 177.43 32,149.6 01.07.05 4,888.5 315.54 6,778.8 7.45 177.60 12,214.8 04.07.05 4,842.7 314.38 6,773.7 7.43 177.85 790.7 05.07.05 4,892.5 320.89 6,768.4 7.45 177.73 3,153.7 06.07.05 4,884.1 319.14 6,804.3 7.44 177.97 3,544.9 07.07.05 4,914.3 319.18 6,809.6 7.44 177.89 6,281.6 08.07.05 4,902.8 325.98 6,813.6 7.46 177.76 7,256.7 11.07.05 4,990.1 324.17 6,835.1 7.43 178.04 17,272.8 12.07.05 5,532.3 342.75 6,827.5 7.43 178.11 637.4 13.07.05 5,490.7 348.40 6,856.3 7.45 178.02 3,737.7 14.07.05 5,522.0 352.04 6,858.4 7.43 178.16 9,201.8 15.07.05 5,518.2 348.16 6,860.8 7.46 178.12 13,440.4 18.07.05 5,470.1 353.64 6,859.2 7.44 178.29 11,259.8 19.07.05 5,482.8 351.51 6,856.6 7.43 178.37 14,350.9 20.07.05 5,483.1 356.41 6,863.9 7.42 178.49 15,167.5 21.07.05 5,599.5 360.90 6,870.2 7.43 178.53 1,659.9 22.07.05 5,599.3 363.35 6,869.0 7.44 178.43 9,979.2 25.07.05 5,601.2 362.53 6,869.2 7.43 178.62 2,658.2 26.07.05 5,665.9 363.77 6,866.9 7.45 178.52 46,146.3 27.07.05 5,673.3 372.80 6,869.8 7.43 178.66 6,432.6 28.07.05 5,662.8 363.53 6,868.9 7.44 178.59 26,779.2 29.07.05 5,768.1 366.29 6,863.6 7.42 178.75 14,772.1 01.07.05 4,888.5 315.54 6,778.8 7.45 177.60 12,214.8 -------- ----------- ------ ----------- ------ ---------- --------- Trend +870.8 +54.42 +87.1 +0.002 +1.32 , +17.8% +17.4% +1.3% +0.03% +0.7% , ------------------------------------------------------------------------- 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 on KASE's specialized trades but it doesn't take into account repo transactions. [2005-08-08]