About condition of the securities market of Kazakhstan as of 1 June 2025
Capitalization of the securities market as of 1 June 2025 made 31.0 trillion KZT, a 0.2% decrease for May 2025 (a 5.6% decrease since the beginning of 2025), mainly due to falling prices of shares included in the representative list of the KASE Index, Kaspi.kz JSC (-4.6%) and NC KazMunayGas JSC (-0.8%).
KASE Index in May 2025 shrank by 1.1% to 5,561.46 points (a 0.3% contraction since the beginning of 2025).
Volume of stock trading in May 2025 made 23.9 billion KZT, a 2-fold decrease for the month mainly due to a contracting volume of trading in shares of Bank CenterCredit JSC and Kcell JSC.
As of 1 June 2025, KASE trading lists contained shares of 96 names of 81 Kazakhstan’s issuers.
As of 1 June 2025, KASE Global sector had 47 names of shares and 18 ETFs of 59 foreign issuers. Total volume of transactions closed in the KASE Global sector in May 2025 reached 6.8 billion KZT, a 3.0% increase for the month mainly due to a growing volume of trading in shares of Airbus, NVIDIA Corp.
Volume of corporate debt traded on KASE decreased by 1.3% to 13.6 trillion KZT in May 2025 (a 0.8% decline since the beginning of 2025).
Volume of corporate bond trading on KASE in May 2025 soared by 56.4% compared to the previous month and reached 742.6 billion KZT, mainly due to the growth of trading volume on the primary market.
As of 1 June 2025, KASE trading lists had 551 corporate bond issues of 131 issuers (as of 1 January 2025 – 511 corporate bond issues of 126 issuers).
Government debt traded on KASE in May 2025 increased by 0.9% to 29.4 trillion KZT (an 8.7% increase since the beginning of 2025). Total volume of government securities trading on KASE shrank by 1.5% in May 2025 and made 779.3 billion KZT.
Volume of trading on the primary government securities market in May 2025 grew by 14.8% to 688.1 billion KZT. Out of these, the Finance Ministry of the Republic of Kazakhstan raised 664.3 billion KZT through placement of 14 bond issues with a yield to maturity of 14.10-16.50%, akimats of five regions raised 23.8 billion KZT as part of implementation of state programs.
As of 1 June 2025, 54 mutual investment funds operated in the collective investment market, including 25 interval, 28 closed and 1 open.
Assets under management in the mutual investment market as of 1 June 2025 amounted to 361.8 billion KZT, up by 0.87% in May 2025 (an increase of 2.9% since the beginning of the year). As of 1 June 2025, the securities portfolio stood at 301.2 billion KZT or 83.3% of the total assets of mutual investment funds.
Institutional structure of the securities market as of 1 June 2025 has 40 brokers and dealers (16 banks and 24 non-banking organizations), 11 custodian banks, 21 investment portfolio managers, 4 transfer agents, as well as 3 infrastructure organizations: KASE, KASE Clearing Center and Central Securities Depository, which also acts as a single registrar and trade repository. In May 2025, number of accounts in the nominal holding system of the Central Depository increased by 2.2% and reached 4,154.1 thousand accounts, where:
- number of sub-accounts of depositor clients grew by 1.0 thousand or 0.1% to 690.9 thousand sub-accounts (an increase of 5.5 thousand or 0.8% since the beginning of 2025);
- number of personal accounts opened by brokers and recorded through aggregated omnibus accounts rose by 89.0 thousand or 2.6% to 3,463.2 thousand (an increase of 647.8 thousand or 23.0% since the beginning of 2025).
Assets of professional participants in the securities market as of 1 June 2025 totaled 548.5 billion KZT, up by 0.25% in May 2025 (a decrease of 28.76% since the beginning of the year, mainly due to termination of the license of one participant).
Liabilities rose by 5.9% to 138.1 billion KZT (a decrease of 42.0% since the beginning of the year), in connection with an increase in liabilities under repo transactions in the amount of 6.4 billion KZT.
Equity capital diminished by 1.5% to 410.5 billion KZT as a result of a decrease in retained earnings by 4.7% to 121.1 billion KZT.
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