AVESTA Overview: June 10 - 21
Biweekly overview on Uzbekistan securities markets by Avesta Investment Group & Europe-Uzbekistan Association for Economic Cooperation
TASHKENT STOCK EXCHANGE
During the given period, trading on the Tashkent Stock Exchange amounted to 7.8bln UZS, marking a 44.8% decline compared to the previous two weeks.
The number of securities traded totaled 74, five less than the previous period.
A single transaction with UPAT shares for 3.8bln UZS accounted for almost half of the trading volume. Bond transactions contributed to one-fifth of the volume, while previous period their presence was much higher comprising nearly 68% of the total volume. ORGS made up 5.1% of the turnover which is another M&A-related transaction. AGBA and IPTB followed by, with each contributing 4% each.
UZMT (+9.7%) and SQBN (1.0%) saw the highest increases in closing prices while UZMK and AGBA closing prices declined by 4.3% and 3.0%, respectively. The remaining securities in the top 10 by volume either remained unchanged or experienced only minor fluctuations.
AVEX increased by 0.9% during these two weeks.
Turnover breakdown (June 10-21, 2024)
AVESTA EQUITY INDEX
*The AVEX index describes the general market trend by covering the top 20 listed companies, in a particular quarter, with the highest liquidity and transaction turnovers on the Tashkent Stock Exchange. The index is a sum of the daily stock prices multiplied by the weighted average coefficients given to selected companies. The base date is 01/01/2021 (1000).
FINANCIAL NEWS
ECONOMICS
Chinese Baibuting Group to implement a "green" energy project for $1.8bln with total capacity of 2GW in Akhangaran;
Malaysian Sunview to build two photovoltaic plants in Andijan and Ferghana regions;
Kaspi considering expansion into the Uzbek market;
China Xiaou Group to invest $1.5bln in an automobile plant in Ferghana. Annual production volume of automobiles to reach 110k units;
Uzbekistan to import meat and poultry products from the US;
Iran and Uzbekistan to remove transit barriers. The volume of trade between the two countries reached $500mln in 2023;
New flights launched between Doha and Tashkent;
Iranian Petrochem to launch a chemical cluster for $273mln with a production capacity of 460k tons per year in the Bukhara region;
StrategEast and Google to launch a project aimed at leveraging AI to tackle sustainability issues across Central Asia and Caucasus;
Afghan Zalal Mowafaq to construct a plant for $130mln for manufacturing non-alcoholic beverages;
Average rent yield decreased by 10% in 5M2024;
Car sales in May increased by 36.5% y-o-y and reached 90k units. EV car sales increased by 30% compared to the previous month;
OVERVIEWUzSAMA sold 50% share in Uz-Dongju Peint Kompani LLC JV to Comfort Engineering Group LLC for 24bln UZS with $5mln investment obligations;
UzSAMA privatized 50% share in UzERAECable LLC - Uzbek-Korean JV for 8.19bln UZS;
EBRD to provide a $10mln loan to Credit Asia Group, electronics and household appliances retail chain, to support its expansion to the regions.