The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published a February 2025 snapshot of Kazakhstan’s securities market, showing a small decline in stock market capitalisation alongside higher trading activity in equities and bonds. Equity market capitalisation fell by 0.2% in February to KZT 32.0trn as of 1 March 2025, while the KASE index decreased by 0.4% to 5,620.34 points. Equity trading volumes rose by 38.1% month on month to KZT 25.9bn, with 97 share issues from 82 domestic issuers listed on KASE. In the KASE Global sector, 47 stocks and 13 ETFs from 56 foreign issuers were available, and turnover fell by 16.3% to KZT 6.3bn. Outstanding corporate debt traded on KASE declined by 2.9% to KZT 13.6trn, but corporate bond turnover almost doubled to KZT 200.0bn, including KZT 115.9bn in primary market volume; the number of listed corporate bond issues rose to 522 from 128 issuers. Outstanding government debt increased by 3.5% to KZT 27.9trn and government securities turnover rose to KZT 670.5bn, with primary market placements reaching KZT 514.5bn across 11 Ministry of Finance bond issues with yields of 13.40% to 14.60%. In collective investments, 58 unit investment funds operated and assets under management fell 0.7% to KZT 347.8bn. Central Depository nominee accounts increased by 3.7% to 3,861.7 thousand, while securities market professional participants’ assets fell 12.2% to KZT 640.8bn and liabilities declined 44.2% to KZT 114.6bn.

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