Volume of Non-state securities transactions on KASE in November - $532.900
/IRBIS, Nov 30, 99/
Within November 1999 on the Kazakhstan stock exchange (KASE) the activity of the non-state securities market has remarkably decreased. During this time 20 transactions totalling $539.900 were made. In comparison with the previous period the number of trade has decreased 2.3 time, the trade volume in dollars has decreased by 29% (from $751,800).
The total volume of the transactions has reached 86,813 compared to 382,943 shares of the previous month.
The trade on common and preferred shares of �KAZAKMYS Corporation� (KZMS and KZMSp, official list, category �B�) have been the most liquid.
Also the deals have been made in MMGZp, HSBK, CCBN, AMGZp, KMRZp.
Out from 21 transactions made 10 have appeared productive. In October 11 transaction from 20 were productive.
18 (40 - in October) transactions from 20 (46 in October) have been conducted in the KASE Quoted System, excluding automatic satisfaction of the counter auction applications (so-called direct transactions). Only two (6 in October) transaction have been conducted in the basic mode of KASE Trade System.
Stock market capitalization for private securities of Kazakhstan as of November 30 � 2,200.4 mln US dollars
/IRBIS, Nov 30, 99/
On November 30 stock market capitalization for corporate securities of Kazakhstan (A+B+N excluding GOB) equaled 2,200.4 mln US dollars or 303.4 bln tenge at Exchange�s rate of tenge against dollar as of this date.
At the end of last month corresponding figure equaled 269.4 bln tenge or 1,921.2 mln US dollars.
Despite exclusion of common and preferred shares of OJSC �Aidabulakskii spirtzavod� and OJSC �Altyn dan� from trade lists of the stock exchange, capitalization grew $279.2 mln. Mainly, it is due to a growth in market value of common and preferred shares of OJSC �Corporation Kazakhmys� and common shares of OJSC �Halyk Bank of Kazakhstan�, and due to inclusion of 5 instruments of 5 emitters into trade lists of the stock exchange.
Total of 87 (86) private securities of 66 (63) emitters were in trade lists of KASE by the end of November, including (in parentheses are the numbers for the end of September): 13 (13) instruments of 8 (8) companies in an official list of category �A�, 16 (20) instruments of 9 (11) companies in an official list of category �B�, 58 (53) instruments of 49 (44) companies in �Non-listing securities� sector and 4 (4) state blocks of shares of 4 (4) emitters.
Commission on repo operations with PS to be lowered from December 1, 1999 at KASE
/IRBIS, Nov 30, 99/
By the resolution #140/0 of the Board of Kazakhstan stock exchange (KASE), dated November 30, 1999, commission fee of the Exchange on repo operations in private securities (PS) will be collected from the seller and the buyer at 0.005% of concluded opening and closing repo deals beginning December 1, 1999.
This innovation was introduced as an experiment until a special resolution of general meeting of the Exchange members.
Until December 1 commission for any deals made in private securities (irrespective of the trade sector) is 0.05% of the deal amount from both sides, but not less than the commission paid by the Exchange to CJSC �Central depository of securities� for offering clearing services on this particular deal.
Actual yield in tenge of MEKAVM-6 #8 � 22.24; MEKAVM-3 #21 � 26.98; currency notes #15 � negative 13.81
/IRBIS, Dec 1, 99/
This week the Ministry of Finance and the National Bank of Kazakhstan should repay following issues of short term indexed liabilities:
� Nov.30,99 - #21/3B, KZ43L3011996 for 11,848.1 thousand USD or 1,635.0 mln tenge at repayment exchange rate;
� Dec.2,99 - #8/6�, KZ46L
0212996 for 528.0 thousand USD or 72.9 mln tenge at repayment exchange rate.� Dec.3,99 - #15/$n, KZ95K0312993 for 470.2 thousand USD or 64.9 mln tenge at repayment exchange rate.
Weighted average yield of MEKAVM-3, #21/3B at an auction � 8.41% APR in currency terms. Actual yield in tenge, calculated at a conversion exchange rate, equaled 26.98% APR.
Weighted average yield of MEKAVM-6, #8/6B at an auction � 7.75% APR in currency terms. Actual yield in tenge, calculated at a conversion exchange rate, equaled 22.24% APR.
Weighted average yield of currency notes, #15/$n is determined at an auction at 7.02% APR in currency terms. Actual yield in tenge, calculated at a conversion exchange rate � 13.81% APR.
Balance of the National Bank�s internal debt � negative 184.7 mln tenge
/IRBIS, Dec 01, 99/
The National Bank will end the forty ninth week on the primary market for state securities with the following results. With actual repayment volume of 574.2 mln tenge the emitter raised 389.4 mln tenge.
Balance of the emitter under the notes program for this week is estimated to equal negative 184.7 mln tenge.
ALMATY, Nov.30 (IRBIS)
The National Bank of Kazakhstan, in return to the request of the National securities commission of Kazakhstan (NSC), by its letter #25010/2800 of November 29, 1999 informs the commission of the following:
�According to section 2 of the Regulations for procedures on licensing the activities involving the use of foreign currency, approved by the resolution #130 of the Board of the National Bank of Kazakhstan, dated April 24, 1997, activities to be licensed are those which provide for transfer (flow) of currency valuables from the residents in favor of non-residents, including investments of the residents made to abroad.
Operations involving purchase of foreign emitters� securities by the residents of Kazakhstan for national currency is not subject for licensing, because no transfer of currency valuables from the resident in favor of non-resident�.
The letter was signed by vice chairman of the National Bank M.Kudyshev.
It can be inferred from the letter that Kazakhstani brokerage and dealing companies have no restrictions for trading in securities of foreign emitters on the territory of Kazakhstan (particularly, emitters of Kyrgyz republic) provided settlements of accounts are carried out in tenge and if these shares are allowed to circulate in Kazakhstan by NSC.
Inquiry was based mainly on admittance of common inscribed shares of Kyrgyz emitters on the territory of Kazakhstan by the NSC on November 4, 1999: OJSC �Kyrgyztelecom� (Bishkek), JSC �Kyrgyzenergo� (Bishkek) and �Kantsrkii tsementno-shifernyi kombinat� (Kant).
Shares of these emitters were allowed to be traded on November 15 in �Non-listing securities� of KASE at second level of admittance. Despite a presence of regular quotations, no deals have been made in these securities so far. Brokers indicate the absence of the license for exporting capital as the one possible reason for the market to be passive.
ALMATY, Dec 2 (IRBIS)
The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 21 banks participated in the trades.
Today the trades in US dollars opened at 138.09 tenge per unit. Total of 69 deals were made. Weighted average dollar exchange rate equaled to 138.08 (+0.03) tenge per unit. Volume of the session � $1,085 mln (-$9,515 mln). Exchange rate fluctuation during the trade did not exceed0.10%. The trades were closed at 138.06/16 tenge per dollar.
Based on the volume of transactions made, activity of the market has shrunk again. It took 15 minutes for the traders to reach a compromise. But even after this, the market was very �thin�. It is enough to say that dollar was traded within 138.09 -138.13 till the 25th minute of the trades, but when a big supply of dollars, amounting to half a million USD, appeared on the floor the market literally dipped down to 138.01, and then the exchange rate went up again.
Mainly two banks of the second tier were offering dollars today, though their volumes were not high, which explains the low activity of the market. Demand was more organized: 7 of 21 participants were purely buying an American currency. However, the demand was under the control of supply, and dealers did not want to buy the dollar at any price.
By the results of the trades, it seems as if the market for the dollar is balanced. Dealers are more interested in �swinging� the market to achieve the maximum price fluctuation, enough to benefit the exchange rate difference than in growth of the exchange rate of the dollar.
One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 138.10/16 tenge per unit, two hours later � 138.02/12. In the day session of KASE with TOD payment terms at 1:00PM the dollar was not quoted.
Deutsche mark, morning session, TOD: 1 deal, price � 71.30 (-0.22) tenge per unit, volume � DEM15 (+10) thousand. At closing of the session Deutsche mark was quoted at 71.11/30 tenge per unit.
Euro, morning session, TOD: no deals. At closing of the session euro was quoted at 139.40/141.03 tenge per unit.
ALMATY, Dec 1 (IRBIS)
According to REUTERS, at closing of interbank currency market of Kazakhstan on December 1 tenge quotations towards US dollar equaled 138.05/15 tenge per dollar.
Compared to the results of the previous day tenge lost 5 points on demand against US dollar and remained unchanged on supply.
On main (morning) session weighted average rate of the dollar with TOD terms equaled 138.05 (+0.15) tenge per dollar and closing quotations � 138.03/04.
Additional day session in USD with TOD terms closed at 137.90/138.35. Evening trades with SPT terms � 137.75/138.50.
After a little growth, dollar quotations on interbank market had lowered to levels fixed at closing of the main (morning) session on the Exchange by the end of the day. Spreads mainly varied around ten points, which are quite normal market levels.
Rates of interbank �overnight� deposits are at 1.5/6.5 APR. There is no deficit of funds in the market.
Strengthening of the dollar, which began this week, is still continuing. Day after day the dealers� desire to reverse the trend upward is getting more vivid. With the beginning of a new month resources of the banks were released, which was quite apparent on today�s morning session of KASE: trade volume rose 1.7 times. At the same time, exporters� earnings were not on KASE. dollar quotations with TOM and SPT terms �look� more upward than downward.
Objective market indicators show that strengthening of the dollar will continue with high degree of probability on Thursday�s trades at KASE. Judging by quotations, dealers are disposed towards this, and the National Bank is not hindering strictly a gradual growth of USD exchange rate.
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