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iShares MSCI South Korea ETF provides exposure to Korean markets, with a focus on semiconductors dominated by Samsung. DRAM prices are increasing, benefiting Samsung and SK Hynix, even though we are worried about the ongoing glut in semiconductors and general demand. Hawkish policies benefit financials right now, and strong exports due to a still weak Won benefit consumer discretionary exposures like automotive.
FLKR: Korea Could Be This Year's Sleeper Hit As 'Value Up' Catalyst Looms
Korea's plan to apply the Japanese playbook has received a rather lukewarm market response so far. Even after last year's rally, Korean large-cap valuations remain inexpensive. Ahead of a potentially catalyst-rich next few months, the iShares MSCI South Korea ETF screens attractively.
Goldman Sachs is bullish on South Korea. The research house believes that the market will offer the highest earnings growth next year.
EWY is a popular way to play South Korean equities, but we pick out a few structural flaws in relation to its next biggest peer - FLKR. Korean macros are convalescing well, and the recent pick-up in exports bodes well. The Korean government is taking steps to make the Won more attractive.
A U.S.-listed exchange-traded fund that tracks the South Korean stock market is surging toward its best day since April — and potentially its best since 2020 — after South Korean financial regulators reimposed a ban on short selling.
South Korea's exports to mainland China have remained weak during 2023, recording a decline of 9.5% y/y in October. According to latest trade data from South Korea's Ministry of Trade, Industry and Energy, South Korea's merchandise exports showed grew by 5.1% y/y in October 2023.
Korean large caps have outperformed their Asian counterparts this year on the back of tech-driven tailwinds. With generative AI investments showing no sign of slowing down, the iShares MSCI South Korea ETF remains poised to benefit via its two largest holdings. The portfolio is priced at undemanding levels, offering investors many ways to win from here.
Morgan Stanley is bullish on equities in Japan, Taiwan and South Korea and suggest an overweight position in developed-market government bonds, including long-dated Treasuries, and the dollar.