🔴 South Korea ETF (EWY) is trading 3.1% down on semiconductor-led selloff after holiday reopening

EWY is trading 3.1% down as South Korean shares sold off after markets reopened from a holiday, led by semiconductor stocks.

• Samsung Electronics and SK hynix fell as the KOSPI dropped.
• Investors questioned AI-chip demand durability after reports that OpenAI’s annualized revenue was below expectations; concerns about Chinese memory-chip competition also added pressure.
• Foreign investors continued selling Korean equities. Geopolitical tensions and elevated oil prices added to inflation concerns.