The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published its June 2025 securities market update, showing a month-on-month increase in equity market capitalisation and the KASE Index alongside higher share trading activity. Stock market capitalisation rose 9.5% in June to KZT 34.0tn as of 1 July 2025, while the KASE Index increased 8.2% to 6,018.56 points, supported by price gains in shares included in the index representative list including KazMunayGas (+11.9%), Kazatomprom (+18.1%) and Kaspi.kz (+3.6%). Share trading volume increased 13.8% over the month to KZT 27.2bn, reflecting higher turnover in ULMUS BESSHOKY, KazMunayGas and KEGOC. KASE listed 95 share issues from 80 domestic issuers; the KASE Global sector comprised 47 shares and 18 ETFs from 59 foreign issuers and turnover rose 37.8% to KZT 9.4bn. Outstanding corporate debt traded on KASE grew 1.1% to KZT 13.7tn, while corporate bond trading fell 20.6% to KZT 589.9bn mainly due to lower primary-market activity; 564 corporate bond issues from 131 issuers were listed as of 1 July 2025. Outstanding government debt increased 2.3% to KZT 30.0tn and government securities trading rose 1.7% to KZT 766.1bn, while primary-market trading declined 8.4% to KZT 630.0bn; the Ministry of Finance placed 14 bond issues raising KZT 615.3bn at yields to maturity of 14.30% to 16.88%, and seven regional administrations raised KZT 14.8bn. In collective investments, 58 unit investment funds were operating as of 1 July 2025 (24 interval, 33 closed and 1 open) and assets under management rose 1.5% in June to KZT 367.4bn, with securities representing 82.9% of fund assets. Central Securities Depository nominee accounts increased 1.9% to 4.2337 million, including client sub-accounts up 0.2% to 691.9k and individual accounts recorded through omnibus accounts up 2.3% to 3.5417 million. Assets of securities market professional participants rose 1.3% in June to KZT 556.3bn, while liabilities remained at KZT 138.0bn and equity increased 1.9% to KZT 418.3bn.