On June 5, the iShares MSCI South Korea ETF (EWY) fell 7.75% in regular trading, trading at $188.85/share, with trading volume of $1.191 billion. The sharp decline mirrors a historic sell-off in the Korean stock market.
South Korea's benchmark KOSPI index plunged as much as 6.4% intraday, closing down 5.54% at 8160.59 points. The crash was triggered by overnight weakness in U.S. semiconductor stocks after Broadcom reported revenue that missed expectations, casting doubt on the sustainability of AI investment momentum. The Philadelphia Semiconductor Index fell 2.15%, with Broadcom down 12.59% and Micron down 7.74%.
Samsung Electronics dropped over 7% and SK Hynix plunged over 9%, together accounting for 54% of the KOSPI index weight and nearly half of daily trading volume. Foreign investors extended their selling streak to 20 consecutive sessions, dumping over $10 billion in Korean stocks this week alone. The Korean won fell to its lowest level since 2009, compounding outflow pressure. Korean authorities triggered the KOSPI circuit breaker mechanism after KOSPI 200 futures fell 5%, halting programmatic trading for five minutes.
The fund generally invests at least 80% of its assets in the component securities of its underlying index, which is designed to measure the performance of the large- and mid-capitalization segments of the equity market in Korea.
(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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