EWY is trading 6.6% down today as investors aggressively reduce exposure to South Korean equities following a sharp profit-taking wave across Asian markets.
- The decline is driven by a double-digit drop in the Kospi index, led by steep losses in major semiconductor leaders Samsung and SK Hynix.
- Broader risk sentiment has turned defensive ahead of the upcoming Federal Reserve meeting and amid persistent concerns regarding AI-related capital expenditures.
- The semiconductor complex is under heavy pressure as investors pivot away from high-growth tech assets during this regional market retreat.