Why iShares MSCI Korea ETF (EWY) rose 8.26% on August 4, 2026

iShares MSCI Korea ETF (EWY) rose 8.26% on August 4, 2026 — Memory supply deals lift Korea tech sentiment broadly.

The iShares MSCI Korea ETF surged 8.3% alongside a broad rally in Korean tech stocks, driven by Samsung and SK Hynix expanding binding memory supply deals as the HBM and DRAM shortage persists.

Memory supply deals lock in pricing power and order visibility for Samsung and SK Hynix, the fund's largest holdings; the ETF rises on beta exposure to this sector-wide margin expansion and AI-cycle tailwind.

Korea Tech theme benefits as the memory bottleneck deepens, making Korean chipmakers the gating constraint on AI infrastructure capex — a multi-quarter structural advantage.

If memory prices roll over or new capacity announcements flood the market, Korean export upside fades and the ETF retraces.