Why iShares MSCI Korea ETF (EWY) rose 5.12%
iShares MSCI Korea ETF (EWY) rose 5.12% on October 28, 2026 — Asia rally on SK Hynix AI earnings lifts Korea.
What happened
Asian stocks rallied and Korea led the advance as SK Hynix's earnings boosted the AI trade. EWY rose 5.1% ahead of a Fed decision.
Why it moved
EWY holds a Korea-heavy basket of large chip and tech names, so it moved with the regional rally rather than on its own news.
Why it matters
EWY is the cleanest read on Korea Tech, where memory and AI-infrastructure exposure dominate the index. Regional rallies like this one show how tightly Korean equities now trade on the AI cycle.
What would break the thesis
A Fed decision that hits global risk appetite would hit EWY hard, since its holdings are concentrated in a few names. If SK Hynix's outlook is questioned, the basket can give back the gain.