About Company
Kazakhstan Stock Exchange
70
Established: November 17, 1993
Address: 8th floor, Northern tower of Multifunctional Complex Almaty Towers, 280 Baizakov Str., Almaty, 050040,
Contact Name: Kaira Zhalenova
Email: [email protected]
Website: www.kase.kz
- Joined FEAS in 1997-
Alina Aldambergen
Chairwoman
Year in review
KASE had another strong year in 2023. Strong growth was observed in all markets: FX, state bonds, corporate bonds, equities. Trading volume on KASE increased by 57% to $ 899 bn. Throughout the year, 1.4 million transactions were concluded, which is 53% more than in 2022.
The trading volume in the securities market grew by 24%, the money market volume increased by 60%, and the foreign currency market saw a 45% increase.
The KASE index surpassed the historical mark of 4000 points and reached 4187.38 points, and increase of 28.8% compared to the previous year. Almost all shares in the KASE representative list demonstrated confident growth.
Equities market capitalization also showed significant growth, increasing by 28% and reaching $ 59 bn.
By the end of 2023, the Exchange's trading list featured over 1500 instruments of 269 issuers, among which are local corporates, banks, Ministry of Finance, National Bank and international institutions.
The inclusion of the national company "KazMunayGas" shares in the KASE Index Representative List has further contributed to market volumes, following its successful IPO in 2022. On KASE, KazMunayGas raised 137.5 billion tenge ($ 291 mln), accounting for 89% of the total volume of shares placed.
At the end of last year, KEGOC's SPO on KASE took place, with the company raising 18.7 billion tenge ($40 mln), which represents 82% of the total volume of shares placed.
IPOs and SPOs positively impacted the attraction of retail investors to trading shares on KASE. The number of opened brokerage accounts exceeded 2.4 million.
In 2023, a record number of SME bonds were registered, and the first subsidized bonds in Kazakhstan were issued. Notably, SMEs issued "green" bonds for the first time, marking an important milestone in contributing to country’s sustainable financing.
Overall, 2023 was the year when KASE celebrated its 30th anniversary, marking remarkable achievements over the years, setting new records and strengthening its position as a key player in Kazakhstan's financial market.
Last year was relatively stable for KASE and we enjoyed favorable economic environment. The uncertainty we faced was linked to how fast the inflation would come down and the rates would be back to normal. During the year inflation in Kazakhstan came down from 21,3% to 9.5% by the end of the year. Kazakhstan' GDP grew by 5,1%.
2023 was the year of transition for our CCP business. Last year we established and separated a new subsidiary - KASE Clearing Center JSC. Obtained licenses for clearing and non-banking activities and shifted CCP to securities and repo market to the newly established entity. Another challenge was the integration of new financial technologies. Utilizing technological advancements to ensure security and compliance required careful planning and implementation to enhance operational efficiency and meet the changing needs of the market.
Increasing liquidity and expanding the investor base, especially among retail investors, was a priority. Efforts were focused on attracting a broad range of investors, fostering a dynamic market environment.
Moreover, improving Kazakhstan's position in international classifications, such as moving from the "Frontier" to the "Emerging markets" category in FTSE and MSCI, remains a constant challenge. Despite significant progress in meeting qualitative characteristics, efforts continue to improve quantitative indicators. A key aspect was enhancing the stock market's accessibility to foreign investors, requiring ongoing efforts to ensure transparency and strengthen investor trust.
There is a plan for active development of technological solutions in market access, exchange services, and exchange information. These innovations will facilitate improved investor capabilities for managing their portfolios, testing investment hypotheses, and participating in exchange trading.
The Federation of Euro-Asian Stock Exchanges