As for South Korean stocks, while the $iShares MSCI South Korea ETF (EWY)$ dropped 7% before rebounding, the ongoing political instability could create further volatility.
The "Blue House Curse" looms large, as no president except Moon Jae-in has had a peaceful end. Yoon’s current challenges could lead to a similar downfall, making the future of his presidency highly uncertain.
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In the midst of the political crisis in South Korea, here are some news articles and viewpoints related to the situation:
"Korea’s FSS Chief Says ‘Value-Up’ to Survive Political Turmoil" - According to South Korea's top financial watchdog, the country's push to improve corporate governance and boost shareholder returns will continue despite the political turmoil. The initiative has bipartisan support. Read more
"South Korean President Could Declare Martial Law Again, Says Ruling Party Leader" - The leader of South Korea's ruling party suggested that President Yoon Suk Yeol could declare martial law again, calling for a swift suspension of power for Yoon. The notion of martial law being declared for the second time has caused unease in the country. Read more
"South Korea's Main Opposition Party Says Lawmakers on High Alert After Many Reports of Another Martial Law Declaration" - The main opposition party in South Korea has stated that lawmakers are on high alert following reports of another possible martial law declaration. Read more
"South Korean shares fall for a second day as political uncertainty spikes" - South Korean shares have experienced a decline for a second day as political uncertainty intensifies. This volatility is likely a result of the ongoing crisis. Read more
"Nikkei Rises Amid South Korea's Political Turmoil After Martial Law Bid" - Japanese shares have gained as tensions ease in the region due to South Korea's parliament initiating steps to impeach President Yoon Suk Yeol following his failed martial law bid. Read more
"S.Korean shares end lower as political uncertainty looms" - South Korean shares have ended lower as political uncertainty continues to loom over the country. Foreigners have been net sellers, and the Korean won has weakened against the dollar. Read more
Please note that the ongoing political instability in South Korea may contribute to further volatility in the stock market. It is important to closely monitor the situation and consider the potential risks associated with investing in South Korean stocks.
Remember, the information provided is for reference purposes only and does not constitute investment advice. Make sure to conduct your own research and consult with a financial advisor before making any investment decisions.