ASTANA, Kazakhstan, October 11. Kazakhstan Stock Exchange (KASE) has published the results of trading in all market sectors from January through September 2023, Trend reports.
Trading volume in all market sectors amounted to 283.36 trillion tenge (about $625 billion). This figure increased by 46.4 percent compared to the same period in 2022.
Compared to the previous nine-month period (from April through December) 2022, trading volume increased by 40.8 percent.
On November 15, 1993, the national currency, the tenge, was introduced in Kazakhstan. On November 17, 1993, the Kazakhstan Interbank Currency Exchange was created to organize and develop the national foreign exchange market, which a few years later was renamed the Kazakhstan Stock Exchange.
Since its creation, KASE has been the only trading platform in Kazakhstan serving the stock, foreign exchange and money markets.
Kazakhstan is looking to develop its stock market, setting this as priority. There are two stock exchanges in Kazakhstan - 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.
