The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published a snapshot of Kazakhstan's securities market showing mixed conditions in May and as of June 1. Equity market capitalization rose 0.6% in May to KZT 47.4 trillion, mainly on price gains in KASE index constituents including Kaspi.kz and KazMunayGas, while the KASE index itself edged down 0.1% to 7,838.16 points. At the same time, turnover in shares fell sharply, dropping 3.2 times to KZT 29.7 billion, largely because trading declined in shares including Kazakhtelecom, KazTransOil, Air Astana, Halyk Bank and KazMunayGas. Debt market activity was firmer in corporate instruments but softer in government securities. Corporate debt listed on KASE increased 1.5% in May to KZT 17.0 trillion, and corporate bond trading rose 23.6% to KZT 906.0 billion, mainly because primary market volume increased 35.5%; KASE's lists contained 755 corporate bond issues from 166 issuers as of June 1. Government debt traded on KASE grew 2.5% to KZT 36.2 trillion, but total trading in government securities fell 12.0% to KZT 849.3 billion, with primary market volume down 2.0% to KZT 0.6 trillion. Within that, the Ministry of Finance placed nine bond issues with yields to maturity of 15.01% to 18.91% and raised KZT 581.9 billion, while 12 regional administrations and the city of Shymkent raised KZT 72.8 billion under state programs. Elsewhere, the KASE Global sector recorded KZT 19.2 billion in trading, down 30.8% in May, and the collective investment market's assets under management rose 5.6% to KZT 326.8 billion, mainly on positive revaluation of fund assets. The market's institutional structure comprised 44 brokers and dealers, 11 custodian banks, 21 investment portfolio managers, five transfer agents and three infrastructure organizations, while the Central Securities Depository's nominee holding system accounts increased 2.0% to 5.54 million. Assets of professional securities market participants rose 2.6% to KZT 637.9 billion, liabilities increased 9.5% to KZT 171.3 billion, and equity rose 0.3% to KZT 466.7 billion.

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