Kazakhstan's Stock Market Sees 19.1% Growth, Driven by Bond Demand The Kazakh stock market's value rose to 136.8 trillion tenge, fueled by increased demand for government and corporate debt. Lower interest rates made bonds more attractive, offering investment opportunities amid the dynamic financial landscape. Kazakhstan's stock market has seen significant growth, with a total value of 136.8 trillion tenge as of September 2026, representing a 19.1% increase from the previous year. The market capitalization-to-GDP ratio has also risen to 75%. The growth is driven by an increase in demand for government bonds and corporate debt, facilitated by the decrease in the base interest rate which has led to more attractive government bond yields. This presents opportunities for investment and financing while posing challenges to those reliant on stable bond yields.