ASTANA, Kazakhstan, April 21. The Analytical Center of the Association of Financiers of Kazakhstan (AFK) has released an overview of the Kazakh securities market for the first quarter of 2025, outlining key trends and changes in both the equity and debt markets. Trend reports.
Despite unfavorable external economic factors, such as the decline in international market indices (S&P 500 — 4.6 percent, Nasdaq — 10.4 percent, Nikkei 225 — 10.7 percent), Kazakhstan's market showed moderate growth, as noted by the Analytical Center of the Association of Financiers of Kazakhstan (AFK).
"The AIXQI index fell by 1.3 percent, while the KASE index rose by 1.4 percent. This growth was driven by an increase in corporate profits and dividend payouts, along with higher inflationary pressure (rising to 10 percent from 8.6 percent at the start of the year) and a 2 percent reduction in the money supply," said the Association of Financiers of Kazakhstan.
In addition, the stock market saw a significant shift in the composition of market participants.
"The share of individual investors in secondary market turnover decreased from 62 percent to 46 percent, while institutional and corporate investors, including non-residents, increased their share from 48 percent to 54 percent, with non-residents accounting for 12 percent," analysts from the Association of Financiers of Kazakhstan (AFK) stated.
Over the first two months of 2025, the total assets under management by asset management companies increased by 2 percent, reaching 1.25 trillion tenge (approximately $2.3 billion), which is equivalent to 0.8 percent of Kazakhstan's GDP.
