[Alpha Biz=(Chicago) Reporter Paul Lee] Due to the fall in the Hong Kong stock market, the Exchange Traded Securities (ETN), which doubles the Hang Seng Tech Index, will be delisted.

According to the Korea Exchange on the 23rd, Samsung Securities' "Samsung Leverage Hang Seng Tech ETN (H)" will be suspended from 3:55 p.m. on the 22nd and will be delisted from the 24th. As the Hong Kong stock market remained weak, the value of the ETN's index plunged 37.13% this year alone, falling to 987 won on the same day. Index value is the actual value of the ETN that can be received at maturity.

The exchange stipulates that the ETN, which has been listed since August 2020, should be delisted if the index value falls below KRW 1,000. The ETN is a product that doubles the daily return on Hang Seng Tech futures, which are calculated at the stock prices of 30 large tech companies listed on the Hong Kong Exchange. It was listed on July 28, 2021 and was originally scheduled for July 19 this year.

The Hong Kong H Index (HSCEI), calculated at the stock price of 50 Chinese companies listed on the Hong Kong stock market, plunged nearly 3 percent from the previous day, falling below the 5,000-point mark, trading at 4989.87 at around 5 p.m. in Korean time. It is close to the previous low (4919.030) recorded on October 31, 2022.

 

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