The analyst at the Korean securities house says that while the issuance of recently embattled equity-linked securities (ELS) tied to the performance of HSCEI is expected to recover in the long run, the market participants may pivot their attention to ELS tracking those stock indices of other advanced markets, such as US, Europe, and Japan.
Gyun Jun ( pictured ), senior derivative analyst at Samsung Securities, sheds light into the history of the main wrapper in the country, equity linked security (ELS) products, as well as the aftermath of the mis-selling saga involving HSCEI-linked products, and the market outlook. Due to the loss of HSCEI-linked ELS, it is unlikely to expect a significant increase in issuance by the first half of 2024 - Gyun Jun South Korea has been grappling with the fallout of the equity-linked securities
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