On October 29, iShares MSCI South Korea ETF rose 5.06% in Regular Trading, trading near $165.32, with turnover of $2.298 billion.
The move was supported by a sharp rally in Korean equities after the KOSPI jumped 6.63% on October 28 and regained the 6000 level, while heavyweight chipmaker SK Hynix reported explosive quarterly results and announced a major shareholder return plan.
SK Hynix said third-quarter operating profit surged 632% year over year, with revenue exceeding KRW 100 trillion for the first time, helping drive its shares up 10.89% and Samsung Electronics up 9.01% in Seoul trading. The broader market strength was significant enough for Korea Exchange to trigger the SIDECAR mechanism during the session, underscoring the intensity of program buying and the breadth of the rebound. As iShares MSCI South Korea ETF tracks large- and mid-cap Korean equities, the strong advance in benchmark Korean stocks directly supported the ETF.
The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The index is a free float-adjusted market capitalization-weighted index that is designed to measure the performance of the large- and mid-capitalization segments of the equity market in Korea. The fund is non-diversified.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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