There’s been a significant shift in the underlying assets used in Asia Pacific year-to-date (YTD) compared to 2019: single stocks have taken over index baskets as most popular underlyings, featuring Meituan Dianping, Alibaba and Xiaomi. The USD 3M Libor does not appear.

Product issuance dropped by 6.3% to 86,597 in Apac YTD compared to 2019 with an increase seen in Hong Kong SAR and Taiwan but a drop in South Korea, China and Thailand, SRP data shows. The Hang Seng Index holds its safe lead as the most widely used underlying, and was linked to 16,019 products YTD, a 20.6% growth compared to the previous year. Hong Kong SAR-listed shares (H shares) of Meituan Dianping, Alibaba and Xiaomi ascended to the top 10 underlyings replacing Ping An Insurance China and