AIX Trading Volume
In June 2022, the trading volume on AIX was $16,444,269, a 2.2 times increase compared to the previous month. The reason for the upward trend is a sharp rise in the trading activity of debt instruments and Kazatomprom GDR and shares and Kaspi.kz GDR.
Issuers, Brokers, Accounts
As of the end of June 2022, 131 issues of securities of 87 different issuers, including 19 ETNs (Exchange traded notes), are included in the official AIX list. AIX trading members are 17 Kazakhstani and 12 international brokers. More than 344 thousand investor accounts have been opened in the AIX CSD.
At the end of June, the total market capitalization of companies listed in the equity segment on AIX (Kazatomprom, Polymetal, Halyk Bank, Ferro-Alloy Resources Limited, CenterCredit Bank, Kaspi.kz ), exceeds $20.4 billion.
In June 2022, the official AIX list was expanded with the listing of three-year bonds of Halyk Bank of Kazakhstan JSC with a coupon rate of 2.5% in the amount of $100 million. This bond issue of the largest bank in Kazakhstan was held within the framework of its $500 million bond program. On June 30, 2022, Finbox Microfinance Organization LLP issued dollar bonds totalling $3 million.
In June 2022, two new exchange-traded notes (ETN) were listed on AIX: iX Islamic Exchange Traded Notes, with the shares of iShares MSCI World Islamic UCITS ETF (“ISDW”) as an underlying asset – one of the largest Islamic funds with the investment made exclusively in Shari’ah compliant securities; as well as the REMB-denominated iX China Equities BR ETNs, with the shares of iShares MSCI China A ETF (“CNYA”) as an underlying asset – one of the largest ETFs providing exposure to the performance of the equity market in China.
Also in June, AIX presented a new instrument – Commercial Paper, which is a commonly used type of unsecured short-term debt instrument issued by companies with proven creditworthiness to finance their short-term working capital needs.
AIXQI Index
The Kazakhstan stock market continues to show very volatile results. At the end of June 2022, the AIXQI index increased by 1.41%, from 754.22 to 764.87. 4 out of 8 companies in the index ended the month in the green zone, 3 of which showed double-digit growth rates.
Shares of Halyk Bank were among the leaders (+17.01%), the largest bank of Kazakhstan issued statements for the 1st quarter of 2022, according to which the bank’s net profit increased from 96.8 to 124.2 billion tenge compared to the same period last year. Similar good results were demonstrated by the Bank CenterCredit, which increased its net profit from 74.7 to 102.7 billion tenge by the end of the 1st quarter of 2022 compared to the 1st quarter of 2021, ultimately propelling l BCC shares up +14.73%. Kcell partially recovered its losses of the previous month (+11.05% for June) against the background of the publication of convincing results of Kazakhtelecom, its parent company, but at the same time, Kazakhtelecom shares declined by -6.25% at the end of the month. The positive dynamics of prices for uranium futures contributed to the growth of Kazatomprom shares (+2.44%). Kaspi.kz share price decreased (-4.53%), despite the growth of the company’s net profit from 74.7 billion tenge in the 1st quarter of 2021 to 102.7 billion tenge in the 2nd quarter of 2022. S&P Global affirmed its positive outlook and ’BB-/B’ credit ratings on Kaspi Bank, a core component of Kaspi.kz’s Fintech Platform. S&P cited sound asset quality, solid operating performance and strong growth in Kaspi.kz’s Payments and Marketplace Platforms. In June, KazTransOil shares lost -6.16% in value, due to the fact that the statements issued by the company turned out to be unconvincing for investors – net profit decreased from 16.7 billion at the end of the 1st quarter of 2021 to 10.2 billion tenge in 2022. Fitch Ratings has confirmed KazTransOil’s long-term foreign currency default rating at BBB- with a Stable outlook. Central Asia Metals shares lost ground in June (-8.40%) against the background of the continuing decline in prices for copper, lead and zinc, as well as due to the recessionary expectations of UK investors.
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