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Sun, Apr. 27, 3:25 AM
- South Korean markets are set to be on watch tomorrow following the resignation of Prime Minister Chung Hong-won in the wake of his government's much criticized response to the ferry disaster. President Park Geun-hye has accepted Chung's resignation.
- Over 300 people have died or are missing and presumed dead after the ship sunk on a routine trip on April 16, with most of them being high-school students and teachers. Initially, it was announced that all the pupils had been rescued.
- ETFs: EWY, FKO, KORU, DXKW, KORZ, HKOR, DBKO
Mon, Mar. 3, 3:02 PM
- After launching 2 S&P 500 centric ETFs within the last 9 months, Horizons is expanding its reach and bringing the the Horizons Korea KOSPI 200 ETF (HKOR) to market on March 4th.
- The ETF will track the KOSPI 200 Index, a free-float-adjusted, market-capitalization-weighted index comprising 200 blue chip companies listed on the Korea Stock Market.
- With an expense ratio of 0.38% HKOR will be the least expensive South Korean investment vehicle in the ETF universe.
- Other ETFs with pure exposure to South Korea: EWY, FKO, KORU, DXKW, KORZ, DBKO
Mon, Feb. 24, 11:03 AM
- Hardest hit of late among regional currencies by the tumble in China's yuan is South Korea's won, reflecting the growing trade between the two countries. Correlations between the yuan and won have grown increasingly tighter over the past year, says Credit Agricole global currency chief Mitul Kotecha, and other Asian currencies have even become negatively correlated with the Chinese unit.
- Morgan Stanley data shows export exposure to China accounts for 13% of South Korean GDP - high, but not as much as Singapore (20%) and Taiwan (17%).
- South Korean ETFs: EWY, FKO, KORU, DXKW, KORZ, DBKO
Wed, Jan. 22, 4:18 PM
- The db X-trackers MSCI All World ex U.S. Hedged Equity Fund (DBAW) is designed to provide exposure to the global ex U.S. equity markets, both developed and emerging, while mitigating exposure to the fluctuations between the U.S. dollar and a basket of global currencies.
- The db X-trackers MSCI South Korea Hedged Equity Fund (DBKO) is designed to provide exposure to the South Korean Equity markets, while mitigating exposure to the fluctuations between the U.S. dollar and South Korean won.
- The db X-trackers MSCI Mexico Hedged Equity Fund (DBMX) is designed to provide exposure to the Mexican Equity markets, while hedging exposure to the fluctuations between the U.S. dollar and Mexican peso.
- All 3 funds will begin trading on January 23rd.
- Other ex U.S. ETFs: VEU, VXUS, SCHF, IXUS, ACWX, CWI, GWL, AADR, RTR, ACIM, VIDI
- Other ETFs covering South Korea: EWY, FKO, KORU, KORZ, DXKW
- Other ETFs covering Mexico: EWW, UMX, SMK
Thu, Jan. 2, 10:40 AM
- The Korean won's strong performance over the last six months is leading a growing number of analysts to worry Samsung's (SSNLF, SSNGY) Q4 results will miss estimates.
- The company's chip business is especially vulnerable to forex swings, since it relies on dollars for order settlement. BNP Paribas estimates every 1% change in the won/dollar exchange rate hurts the op. profit of Samsung's chip division by 4%.
- Citing exchange rates and (to a lesser extent) margin pressure for Samsung's OLED display business, IBK Investment is now expecting the electronics/display/chip giant to post a Q4 op. profit of KWT9.5T ($9.04B), below a KWT10.3T Thomson Reuters consensus.
- Korean automakers Hyundai (HYMLF -5.1%) and Kia (KIMTF -6.1%) also fell hard in Seoul overnight. South Korea's benchmark KOSPI index fell 2.2%.
- Korean ETFs: EWY, FKO, KORU, KORZ, DXKW
Sep. 23, 2013, 9:57 AM
- Extrapolating the Fed's more dovish stance to emerging markets, JPMorgan upgrades Turkey (TUR) and Peru (EPU) to overweight, where they'll join Mexico (EWM), Thailand (THD, TTF, TF), The Philippines (EPHE), and Taiwan (EWT).
- "Turkey feels like the tapering trade," says the team. "The suffering this summer turns to euphoria as the Fed returns to dovishness and retreats from tapering."
- Taiwan and Mexico rate an overweight because of their exposure to developed world growth, but what about Korea (EWY, FKO, KORU, KORZ)? Typically, the country belongs in this group, but JPMorgan is cautious on high-end tech and thus on Samsung. Taiwan, on the other hand, should benefit from the growth in low-priced smartphones.
- Moved to underweight are Russia (RSX, ERUS, RBL, RSXJ, RUDR) and Colombia (GXG, COLX, ICOL).
- Top 10 individual stock picks include ICICI Bank (IBN), Southern Copper (SCCO), and Cemex (CX).
Sep. 16, 2013, 7:14 AM
- Emerging markets power ahead to a 3-month high amid a global rally on the Summers withdrawal news. The MSCI Emerging Markets ETF (EEM) is up 1.1% premarket.
- Particularly notable moves include sharply lower Indonesian and Turkish bond yields, and the South Korean won strengthening to a 6-month high,
- Indonesia gained 3.4% overnight, Turkey +3%, and the Kospi rose 1%.
- The Hang Seng (EWH) jumped as well, +1.5%, though Shanghai closed moderately lower.
- Others: The Philippines and Thailand each gained 2.8%.
- Emerging market ETFs: AGEM, EEM, ADRE, SCHE, GMM, VWO, DEM, EWEM, PXH, PIE, EWX, DGS, EMLB, EDC, EET, EMSA, EDZ, EEV, EUM, TLTE, HILO, EELV, EEMA, EMFT, DVYE, FEMS, EVAL, EGRW, EMCR, IEMG, EMDR, EEME.
- Indonesia: EIDO, IDX, IDXJ.
- Turkey: TUR.
- South Korea: EWY, FKO, KORU, KORZ.
- The Philippines: EPHE.
- Thailand: THD, TTF, TF.
May. 9, 2013, 4:35 AMIn a surprise move, the South Korean central bank cuts interest rates by 25 basis points Thursday, calling economic activity in the eurozone and emerging markets "sluggish" and "weaker than initially expected." The cut takes the base rate to 2.5%, its lowest level in two years and when combined with recent fiscal policy designed to bolster growth, should help "accelerate the recovery and increase the upside of Korea's GDP," one economist told the NY Times. South Korean stocks (EWY) rise 1.18% and the won falls 0.34% against the dollar. | Comment!
Apr. 10, 2013, 4:42 PMDirexion launches two triple-leveraged single-country ETFs today - Daily Brazil Bull 3X Shares (BRZU) and Daily South Korea Bull 3X Shares (KORU). Both the funds have an expense ratio of 0.95%, much higher than counterparts FKO and FBZ (0.80%) and EWY and EWZ (0.60%), but matching UBR (0.95%). The timing of the launch is interesting as both countries have struggled to perform recently, with iShares' Brazil fund EWZ -13.4% (last 12 months) and -2.4% (YTD). EWY (South Korea) is -6.2% (last 12 months) and -12.3% (YTD). | Comment!
Dec. 19, 2012, 3:44 PMAt just 9X 2012 earnings, Korea's stock market is among the cheapest on the planet, writes Kopin Tan, blaming it on outdated perceptions of a highly cyclical, export-dependent country. Korean companies have slashed debt, and an aging population might force Asia's stingiest firms to loosen up on dividends. EWY is the popular play, but it's heavily weighted to Samsung. More diversified (but less liquid) is FKO]. | Comment!
FKO vs. ETF Alternatives
The First Trust South Korea AlphaDEX® Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the Defined South Korea Index.
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