Fitch Ratings last week released its "Asia Pacific 2005 and 2006 Outlook," in which the agency forecasted stable cross-border issuance from the region in 2006, following last year's $6.2 billion total. However, the make-up of issuance in terms of asset classes is likely to "change measurably."

South Korea, which last year accounted for 57% of volumes in ex-Japan Asia, will see a move away from consumer finance deals towards residential mortgage securitization.

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