The Business Standard of Bangladesh carried the Reuters report on Tuesday and CNBC Africa on Monday. Vietnam, Kazakhstan, Pakistan and Bangladesh, the group Reuters's report calls frontier Asia, all carry the maximum 8% weighting and together make up nearly a third of the index. African issuers make up almost 45%; the other large weights are Egypt, Morocco, Nigeria and Sri Lanka.
A bond qualifies at $250 million equivalent outstanding and 2.5 years to maturity. The index yields almost 10.4%, about 440 basis points above JPMorgan's mainstream local-currency emerging-market benchmark, and a back-test gave it 1.2 points a year more than that benchmark over 9 years, by the note's account as Reuters relayed it.
The tenge arrives at the index strong.
How much money will follow is the open question. The Times of Central Asia, reading the same report, noted that JPMorgan has not said how much capital will track the new index, and framed it as a route to benchmark investors that runs separately from Kazakhstan's push to enter the bank's main GBI-EM index.
The tenge arrives at the index strong. It closed Monday's KASE session at 447.8 to the dollar, down 3.17 on the day, a level Tengrinews's headline called the strongest since June 2024; the National Bank has carried that close as its official rate for Tuesday. Its base rate has stood at 16.25% since 4 September.
No statement from the finance ministry or the National Bank on the index had surfaced by Tuesday evening, on the government's news index or on Tengrinews's front. The note is JPMorgan's and so are the weights. On Tuesday the government did approve a joint action plan with the National Bank on the digital-asset industry, in a one-sentence release that publishes no plan.
KazMunayGas's dollar tender window runs to Friday, with $500 million accepted of the $658 million offered. The new index prices the sovereign's tenge bonds.