KASE introduces new indexes

KASE has launched three new indexes / Collage: Kursiv.media

Since April 1, 2024, the Kazakhstan Stock Exchange (KASE) has published three new indexes tracking the government security market: KZGB_CPm1m, KZGB_DPm1m, and KZGB_Ym1m. According to the exchange, the indexes will also calculate the index’s duration (change) in years and the modified duration (change in bond price with a one-basis-point change in interest rates).

KZGB_CPm1m (more than one month) is the net price index tracking unindexed securities with a maturity of 31 days or more issued by the Ministry of Finance, excluding the price of accumulated and unpaid coupon payments. The index’s starting rate was set at 1,000 tenge.

KZGB_DPm1m is the price index of the aggregate income of non-indexed government securities of the Ministry of Finance (including accrued, paid coupon payments, and reinvested coupon payments) with a maturity of 31 days or more. The initial value of the KZGB_Dm1m index was set at 1,000 tenge with the addition of the average value of accumulated and unpaid remuneration (in tenge);

KZGB_Ym1m is the yield indicator for the same securities in annual percentage terms.

On the first day, the net price index KZGB_CPm1m increased by 0.03% to 1000.31 tenge. The index KZGB_DPm1m increased to 1043.89 (+0.06%). The yield indicator KZGB_Ym1m amounted to 11.88%, rising by 0.34% daily.

KASE will update the indexes once a day at 11:30 a.m. They will be available in the Indicators (Stock market) and Markets (State securities) sections of the exchange’s website. KASE has already changed its internal rules regulating the methodology of calculating indexes and indicators of the stock market. So far, KASE has published 17 indexes. Yield indicators of government securities are calculated using the tenge and percentage. The government is expected to issue securities worth $1.4 billion in April and $11.5 billion throughout the year.

In February, the KASE index grew by 12.8%, a historical record for the exchange. In March, it grew by 5.4% compared to February, reaching 5,077.84 points, another record.