THE MAIN PROBLEMS AND WAYS OF DEVELOPMENT OF THE EXCHANGE MARKET OF THE REPUBLIC OF KAZAKHSTAN

Abstract

This article analyzes the current state of the stock market of the Republic of Kazakhstan, identifies the main issues and considers the prospects for its development. The research is aimed at factors affecting the investment climate, structural aspects of the market and regulation. Particular attention was paid to issues such as volatility, lack of diversification and lack of transparency. In the context of these issues, recommendations were made and opportunities for improving the stock market of Kazakhstan were discussed, taking into account the potential for attracting investment and stimulating economic growth. In the context of a global pandemic, the Kazakhstan Stock Exchange (KASE) and other exchanges around the world had to switch to an online format. Despite the fact that at various times up to 80% of the exchange's employees worked online, constant availability of services and infrastructure was ensured for all participants of the exchange market. However, the Kazakhstan Stock Exchange's own problems and the supply and demand of securities were analyzed, as well as the role of these instruments in attracting investment and capital formation in the stock market of Kazakhstan. Recommendations on further development and improvement of regulation in the field of securities and bonds from the point of view of strengthening financial stability and creating a favorable investment environment in the Republic of Kazakhstan were discussed.