Kazakhstan’s Stock Market Grew Faster Than Major Western Indexes
Photo: elements.envato.com
Kazakhstan’s stock indexes posted stronger results in the first quarter than leading Western benchmarks, the Association of Financiers of Kazakhstan said, Orda.kz reports.
According to the association, investor and issuer activity remained strong in January-March despite both domestic and external pressures, including the National Bank’s tight monetary policy and global sentiment shaped by the war in the Middle East.
The Kazakhstan Stock Exchange index rose 10% in the first three months of the year, while AIXQI, the index of Kazakh issuers traded on AIX, increased 18.8%. At the same time, major global indexes declined: the S&P 500 fell 4.3%, the Shanghai Composite lost 1.9%, and the MSCI World index dropped 3.5%.
This suggests a local inflow of liquidity into shares of Kazakh issuers. The entry of nonresident investors into the domestic market since last fall has also repeatedly been cited as one of the main reasons for the strengthening of the tenge. Their investments over three months increased 19%, reaching 2.3 trillion tenge.
The association also said growth in Kazakh indexes was driven by blue-chip stocks, including KazMunayGas, Kazatomprom, KazTransOil and Solidcore Resources. Their performance was supported by the external commodities environment, expectations of dividend payouts and revised cash-flow forecasts.
Activity in the secondary stock market was led by retail investors, whose share increased from 46% to 56%. The role of brokers and dealers grew more modestly, from 19% to 21%. Total assets under the management of investment companies also increased, from 1.93 trillion tenge to 1.97 trillion.
Original author: Alexey Afonsky
Read also:
Latest news
- Officials Say Aitu Is Freer Than Russia’s MAX and Has Over 1 Million Users
- Kazakhstan’s Stock Market Grew Faster Than Major Western Indexes
- Mortality From Water and Hygiene Risks Increases in Kazakhstan
- Kazakhstan Uses AI to Track Illegal Construction
- New Almaty Square Opens Where Nazarbayev’s Residence Once Stood
- Israel Looks To Open Direct Flights To Kazakhstan
- Astana Akim Says LRT Line Is Almost Ready for Launch
- Kazakhstan Stops Shipments of Infected Grain and Seeds From Russia
- Why Kazakhstan Has Too Many Teacher Graduates and Too Few Qualified Ones
- Stronger Tenge Cools Demand for Cash Dollars in Kazakhstan
- Kazakhstan Tightens Rules on Business Assets for Contract Servicemen
- Kazakhstan Approves New Rules for the Protection of Monuments and Historic Sites
- Kazakhstan Launches New System to Respond to Bullying and Violence Against Children
- Personal Data of Kazakhstanis Was Sold Online to Debt Collectors and MFIs
- Bolashak Scholarships Went to Students Who Did Not Meet the Criteria, Audit Says
- Nearly 20 Billion Tenge Was Spent on Expelled Students, Audit Says
- Kazakh Government Bonds May Enter Euroclear Next Year
- Kazakh Graduates Are Increasingly Working Outside Their Profession
- Kazakhstan Faces a Sharp Demographic Shift as the Population Ages
- Powerful Winds Cause Damage in Several Regions of Kazakhstan
