---
symbol: "EWY"
name: "iShares MSCI Korea ETF"
date: 2026-10-28
change_pct: 5.115352483773523
direction: "up"
event_type: "sector_sympathy"
url: "https://perplo.app/why/EWY/2026-10-28"
updated_at: 2026-10-28T11:07:26.725Z
---

# Why iShares MSCI Korea ETF (EWY) rose 5.12% on October 28, 2026

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.

## Sources

- [Asia stocks rally as SK Hynix earnings boost AI trade; Fed decision ahead](https://www.investing.com/news/stock-market-news/asia-stocks-rally-as-sk-hynix-earnings-boost-ai-trade-fed-decision-ahead-4977421) — Investing.com
- [Finance minister hopes for Bloomberg review of S. Korea's market status](https://www.koreaherald.com/article/10918098) — Korea Herald
- [SOUTH KOREA’S STOCK MARKET OPENS IN POSITIVE TERRITORY AS AI OPTIMISM RETURNS FOLLOWING US GAINS](https://t.me/marketfeed/1064603) — MarketFeed

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