MONTHLY BEHAVIOR OF INDEX OF KYRGYZSTAN STOCK EXCHANGE IN TRANSITION ECONOMY

İsmail KASAP (Kyrgyzstan-Türkiye Manas University )

The aim of this study is to discuss the monthly behavior of stock index of Kyrgyz Stock Exchange(KSE). The monthly indeces are analyzed by performing Markov Processes as in the case of a single stock model based on daily closing prices. Past and present of KSE are evaluated from the point of view developing capital markets in transition economy. Additionally, the market capitilizations of Kyrgyz, Kazakh, and Uzbek Stock Exchanges are compared.