🔴 South Korea ETF (EWY) is trading 3.6% down as Korean chip stocks plunge after holiday

EWY is trading at $164.02, down 3.58%, as a sharp South Korean semiconductor selloff weighs on the fund after the market reopened from a holiday.

• The KOSPI fell as much as 7% intraday, with Samsung Electronics and SK Hynix among the hardest-hit stocks.
• Investors are concerned that Chinese chipmaker CXMT’s progress on denser memory-chip technology could intensify competition for Korean producers.
• Weakness in global semiconductor shares and AI-related concerns added pressure.