ASTANA, Kazakhstan, November 17. The volume of trading in securities of investment funds on the Kazakhstan Stock Exchange (KASE) amounted to 10.4 billion tenge (about $22.5 million) from January through October 2023, Trend reports.
This figure increased by 52 percent compared to the same period in 2022.
Trading volume surged by 80 percent in 2022 compared to the previous ten-month period (March through December).
From January through October, total trading volume in all market sectors was 326.2 trillion tenge (about $714.9 billion). When compared to the same period in 2022, this figure climbed by 52.2 percent.
The tenge, Kazakhstan's official currency, was introduced on November 15, 1993. On November 17, 1993, the Kazakhstan Interbank Currency Exchange was founded to organize and grow the national foreign currency market, and it was later renamed the Kazakhstan Stock Exchange.
Since its inception, KASE has been Kazakhstan's sole trading platform for the stock, foreign currency, and money markets.
Kazakhstan has prioritized the development of its stock market.
Kazakhstan has two stock exchanges: the Kazakhstan Stock Exchange (KASE) and the Astana International Financial Center (AIX).
On September 1, President Tokayev said that the two stock exchanges largely duplicate each other, and sometimes even compete with each other, which is redundant for the country's financial system. In order to increase the capacity and attractiveness of the domestic market, it was decided to work on potentially combining the two exchanges into a single management.
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