Korean autocallable volumes double as HSCEI rallies

Diversification of underlying investment and additional protection options also behind revival

korean-won-closeup
Recovery in key underlying index has seen volumes rise to 2015 levels

Nearly two years after causing carnage across the Street, volumes of Korean equity-linked securities have rebounded thanks to a surge in one of the main underlying investment indexes and new structural tweaks.  

Issuance of the products, also known as autocallables, has averaged more than $6 billion a month in 2017, a level last seen two years earlier. Dealers say this has been driven by the rising Hang Seng China Enterprises Index (HSCEI), which has recovered from its crash in September 2015.

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