South Korea-Focused ETFs Surge as Samsung Strike Risk Subsides, KOSPI Hits Record High and Triggers Circuit Breaker

Stock News05-27 13:50

ETFs tracking the South Korean market are collectively strengthening. As of the latest update, TR Korea (02848) rose 5.66% to HKD 2,027; E Fund Asia Semiconductor ETF (03486) gained 3.64% to HKD 23.36; Samsung Global Semiconductor (03132) increased 3.62% to HKD 66.94; and CSOP Hong Kong & Korea Technology (03431) advanced 2.45% to HKD 11.28.

On the news front, according to reports, Samsung Electronics announced on the morning of May 27 local time the results of an internal vote held earlier. The tentative agreement previously reached between labor and management was approved with 73.7% support in the internal vote, temporarily easing the risk of a major strike at Samsung Electronics. It is understood that the Samsung Electronics Labor Union (SELU), which led the negotiations, has 57,290 valid voting members, with an estimated 80% to 90% coming from the semiconductor division, which fundamentally determined the direction of the vote's outcome.

As of May 27, South Korea's KOSPI index saw its intraday gain widen to as much as 5%, once again setting a new all-time high and triggering the circuit breaker mechanism—the Korea Exchange activated the measure as the KOSPI 200 futures index rose by 5%.

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