EWY is trading 3.3% up today as investors reassess the impact of the Bank of Korea’s surprise rate hike and engage in bargain-hunting following a sharp two-day decline.
- The fund is seeing a partial mean-reversion move after being pressured by a 25bp hike to 2.75% and a broader global selloff in heavyweight chip and electronics names.
- Higher domestic interest rates had previously weighed on valuations, but oversold conditions are now attracting buyers despite fragile global risk sentiment.
- The rebound comes after the ETF suffered steep losses tied to both local monetary policy shifts and international volatility in the technology sector.