Why iShares MSCI Korea ETF (EWY) rose 2.83%
iShares MSCI Korea ETF (EWY) rose 2.83% on October 27, 2026 — AI optimism after US chip gains lifts Korea.
What happened
South Korea's stock market opened higher as AI optimism returned following US chip gains, and EWY rose 2.8%. The move reflects spillover from US tech strength into Korean equities.
Why it moved
Risk-on AI sentiment from the US chip rally spilled into Korea, where semis are a large share of the index, so the ETF moved with that sentiment.
Why it matters
EWY is the broad Korea Tech theme in ETF form, where AI memory demand has been the key driver of Korean market flows.
What would break the thesis
If US AI leaders reverse sharply or Korea-specific selling overwhelms the open, the spillover fades. The theme's broader breakdown on policy and rate concerns is the main risk to the thesis.