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Markets
27/10/2008
UzSE turnover may hit US$100m-US$110m point in 2008 - Essential Investments
Uzbekistan Stock Exchange (UzSE) “Tashkent”
Tashkent (UzDaily.com) -- Turnover of the Uzbekistan Stock Exchange “Tashkent” (UzSE) can hit US$100 million-US$110 million point in 2008, analysts of Essential Investments said in their report on the results of trades at the UzSE in nine months of this year.
Essential Investments analysts said that the turnover of the UzSE reached US$72.4 million in nine months of 2008 or 83% of total turnover of the exchange in 2007. Turnover of the UzSE last year was US$87.2 million. In 2006, the UzSE turnover made up US$109.3 million.
However, the analysts said that to reach US$100 million-US$110 million point, the daily turnover at the exchange should be higher than US$10,000-US$15,000. In last days of October, the daily turnover rarely exceeds US$10,000-US$15,000, they noted.
The analysts explain low activity of investors at the UzSE with the global financial crisis, which “slightly touched” Uzbekistan. They said that the portfolio investments at the hard currency platform of the UzSE almost stopped.
Investors were active in March, June and September and turnover of the exchange exceeded US$11 million point.
During nine months of 2008, the shares of 331 issuers were traded at the UzSE. About 29% of deals fell to share of IPO market and 59% to the secondary. About 12% of deals were carried out in repo market.
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