The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan released a May 2025 update on Kazakhstan’s securities market, reporting a 0.2% month-on-month fall in stock market capitalisation to KZT 31.0 trillion as of 1 June 2025, alongside a 1.1% decline in the KASE Index to 5,561.46 points. Equity trading volume halved over the month to KZT 23.9 billion, driven mainly by lower turnover in Bank CenterCredit and Kcell shares. As of 1 June 2025, KASE listed 96 share issues from 81 domestic issuers, while the KASE Global sector included 47 share issues and 18 ETFs from 59 foreign issuers; KASE Global turnover rose 3.0% over the month to KZT 6.8 billion, largely on higher trading in Airbus and NVIDIA Corp. The outstanding volume of corporate debt traded on KASE fell 1.3% in May to KZT 13.6 trillion, but corporate bond trading increased 56.4% to KZT 742.6 billion on higher primary-market activity; KASE listings comprised 551 corporate bond issues from 131 issuers (up from 511 issues by 126 issuers at 1 January 2025). Outstanding government debt traded on KASE rose 0.9% in May to KZT 29.4 trillion, with total government securities trading down 1.5% to KZT 779.3 billion, while primary-market volume increased 14.8% to KZT 688.1 billion; the Ministry of Finance placed 14 bond issues raising KZT 664.3 billion at yields to maturity of 14.10% to 16.50%, and five regional administrations raised KZT 23.8 billion. The collective investment market comprised 54 unit investment funds (25 interval, 28 closed and 1 open), with assets under management up 0.87% in May to KZT 361.8 billion; in market infrastructure, the Central Securities Depository reported nominee-holder accounts up 2.2% in May to 4,154.1 thousand, and securities market professional participants’ assets edged up 0.25% to KZT 548.5 billion as of 1 June 2025, while liabilities rose 5.9% to KZT 138.1 billion and equity fell 1.5% to KZT 410.5 billion.

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