South Korea's stock market plunged sharply, with the Kospi index dropping nearly 8% intraday and triggering a circuit breaker due to heavy foreign selling and rising US inflation fears. The US reported higher-than-expected inflation, pushing expectations of prolonged high interest rates, which pressured Korean stocks, especially chipmakers like Samsung Electronics and SK hynix that dominate the market. The iShares MSCI South Korea ETF (EWY), heavily concentrated in these chipmakers, fell significantly, reflecting investor concerns about AI-driven demand and currency losses from a weaker won. The market is likely to remain under pressure until foreign selling eases and the index recovers above recent lows.
The iShares MSCI South Korea ETF (EWY) is trading at USD 150.02 on Pluang as of Oct 15, 2026 19:11 WIB, down 6.14% in one day. The ETF's market cap stands at $22.66 billion, reflecting significant investor caution. Sell orders dominate at 57%, indicating ongoing foreign selling pressure in line with the market turmoil described.
