Kazakhstan Stock Exchange discloses 3 trends since early 2022

By Trend

Despite the fall in the share prices of some companies amid the riots in Kazakhstan, the shares of all companies began to recover in price following the trading sessions on January 26-27, Deputy Chairperson of the Board of the Kazakhstan Stock Exchange (KASE) Natalya Khoroshevskaya told Trend.

Khoroshevskaya added that three vivid trends have already changed on the local stock market since the beginning of the year.

"The first trend was created on January 5, when the share prices of almost all public companies decreased," she said. "The biggest change was observed in the companies whose shares are traded on the London Stock Exchange, namely, Halyk Bank, Kazatomprom and Kaspi.kz."

Khoroshevskaya said that the shares of Halyk Bank and Kaspi.kz decreased in price by 17.6 percent and 29.3 percent respectively on the London Stock Exchange, while on KASE they decreased by less than seven percent.

"Kazatomprom's shares on the London Stock Exchange increased by two percent due to the concerns in connection with a decrease in the supply of uranium," deputy chairperson said.

Khoroshevskaya said that the shares of Kazakhtelecom and Kaztransoil companies decreased by about three percent as a result of the January events in Kazakhstan [large-scale protests].

"Shares of Kcell, Kazakhstan Electricity Grid Operating Company (KEGOC) and Bank CenterCredit slightly decreased," deputy chairperson said. "The second trend lasted from January 11 through January 25, 2022. During this period, investors began to buy back shares that had previously fallen in price."

Khoroshevskaya said that the local market expected a change on the Western markets due to the escalation of relations between Russia and Ukraine, the spread of a new COVID-19 strain and tightening of monetary policy.

"The multidirectional pressure of these factors contributed to the increase in the volatility of share prices, but, in essence, the prices slightly changed in the market," deputy chairperson added.

Khoroshevskaya stressed that the third trend has been created since January 26, when public companies began to publish production reports.

"Another factor in its creation was the confirmation of the credit ratings of eight biggest Kazakh banks by Standard & Poor's rating agency," deputy chairperson added.

"The shares of all companies began to recover in price following the trading sessions on January 26-27 while securities of Kcell, Kaztransoil and Bank CenterCredit have grown by 4.4 percent, 1.0 percent, 1.7 percent, respectively, since the beginning of the year," deputy chairperson said. "The trading volume is being recovered on the stock market."