The iShares MSCI South Korea ETF (EWY) experienced a significant decline of 5.31% during the night session, reflecting broad-based selling pressure on South Korean equities.
This sharp drop in the South Korea-focused ETF came as Asian markets opened lower, with South Korea's benchmark KOSPI index falling 5.7% at the opening. The decline in the broader South Korean market directly impacted the ETF, which tracks the performance of South Korean stocks.
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