🔴 EWY is trading 3.3% down today after surprise Bank of Korea rate hike and KOSPI plunge

EWY is trading down 3.3% in pre-market following a surprise 25bp rate hike by the Bank of Korea and a 6.6% plunge in the KOSPI index.

• The Bank of Korea unexpectedly raised interest rates to 2.75%, catching markets off guard and triggering a sharp sell-off in South Korean equities.
• Major semiconductor components are leading the decline, with Samsung Electronics and SK Hynix falling between 8% and 11%.
• The move extends recent losses for the tech-heavy market as investors react to tighter monetary policy and pressure on the electronics sector.