Why iShares MSCI Korea ETF (EWY) fell 6.93%
iShares MSCI Korea ETF (EWY) fell 6.93% on July 28, 2026 — Korean political risk weighs on tech ETF.
What happened
South Korea's tech sector is broadly weak; Yoon's election law conviction puts the ruling PPP at risk of losing W40b won in campaign funding.
Why it moved
Political uncertainty and policy risk trigger risk-off flows across Korean equities; funding constraints and political turmoil weaken reform agendas and invite foreign investor flight.
Why it matters
Korea Tech faces structural headwinds; BCA is flagging a 3-month rotation into China, implying Korean equities will underperform.
What would break the thesis
If the PPP quickly replaces Yoon or election authorities overturn the funding ruling, political risk could ease.