🔴 South Korea ETF (EWY) is trading 3.22% down as oil and yields pressure Korean shares

EWY is trading at $181.16 (-3.22%) as higher oil prices and rising global yields weighed on South Korean shares.

• South Korean shares sold off after the Chuseok holiday, with the KOSPI falling 2.70%.
• Samsung Electronics and SK Hynix dropped 5.43% and 5.05%, respectively, amid foreign selling that pressured semiconductor-heavy EWY.
• Oil rallied after Iran’s proposal was rejected, reversing earlier hopes for a diplomatic resolution.