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EWY

iShares MSCI South Korea Capped Index ETF

5/21/2013, 7:49 PM ET

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Friday, May 10, 4:22 PM The week's ETF movers - Gainers: REMX +10.8%. URA +6.6%. TAN +6.4%. VNM +5.4%. XHB +3.4%.
ETF Losers: GAZ -4.5%. UNG -3.6%. FXA -3.0%. EWY -2.7%. EWA -2.7%. Comment! [On the Move]
Friday, May 10, 11:01 AM One casualty of Friday's yen (FXY) rout are South Korean stocks (EWY -3.6%) as the Kospi falls 1.75% in Seoul. The weaker yen hurts Korea's exporters and Thursday's 25 basis point rate cut is likely no match for the BOJ's monetary bazooka. Comment! [Global & FX]
Thursday, May 9, 4:35 AM In 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! [Global & FX]
Friday, May 3, 4:55 PM The week's ETF movers - Gainers: XLK +3.9%. QQQ +3.7%. EPI +3.6%. EWY +3.2%. ILF +3.1%.
ETF Losers: GAZ -4.6%. UNG -4.2%. VXX -2.8%. GDXJ -2.4%. TLT -2.0%. Comment! [On the Move]
Wednesday, May 1, 10:52 AM Investors wanting leveraged bearish exposure to Brazil (EWZ) and South Korea (EWY) get two new offerings today as Direxion launches the Daily Brazil Bear 3x ETF (BRZS) and the Daily South Korea Bear 3x ETF (KORZ). The bull versions (BRZU, KORU) of these funds launched about a month ago. Comment! [Global & FX]
Friday, April 26, 1:06 PM Universal Display (PANL -2.8%) slumps after Samsung (SSNLF.PK -0.5% in Seoul) posts Q1 results in-line with its projections. As usual, Samsung didn't provide details about phone sales, though it did note smartphone sales fell by a single-digit % Q/Q in the seasonally weak quarter (rivals often fared worse), and expected "weak seasonality to continue" in the smartphone market ahead of a 2H pickup. Still, Galaxy S III sales were steady in Q1 ahead of the S IV launch, and Note II sales rose. Also: Larry Page appears to be a fan of Samsung's OLED displays. (Samsung slides) 1 Comment [Tech, On the Move]
Tuesday, April 16, 11:49 AM Its exporters struggling with the double-whammy of slow global growth and a plunging yen, South Korea aims to assist, unveiling a $15.4B supplementary budget. The government makes this move as all are slashing growth forecasts for the economy and the Bank of Korea - so far - is resisting pressure to cut rates. EWY +2.9%. Comment! [Global & FX]
Wednesday, April 10, 4:42 PM Direxion 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!
Monday, April 8, 10:40 AM South Korean stocks (EWY -1.1%) slid again Monday, falling to a four-month low as speculation mounts that activity around an atomic test site in North Korea signals a new nuclear test may be imminent. The KOPSI index closed at 1918.69, its lowest level since late November after losing nearly 4% last week. Comment! [Global & FX]
Friday, April 5, 5:00 PM The week's ETF movers - Gainers: TLT +4.3%. WPS +3.7%. UNG +2.6%. VNQ +2.4%. IYR +1.8%.
ETF Losers: GDXJ -8.0%. GDX -7.4%. URA -6.7%. EWY -6.2%. REMX -5.3%. Comment! [On the Move]
Friday, April 5, 4:02 AM While Japanese shares rose, stocks in the rest of Asia suffered ahead of U.S. nonfarm payroll data and after weekly jobless claims disappointed yesterday. Hong Kong equities fell sharply amid reports of deaths from avian flu, with airline stocks particularly affected. South Korean shares again dropped as North Korea continued with its brinkmanship, while the weak yen hurt auto shares. Hong Kong -2.6%, China closed, India -0.1%, South Korea -1.6%. Comment! [Global & FX, Top Stories, On the Move]
Thursday, April 4, 2:54 AM Haruhiko Kuroda's blitzkrieg on deflation helps Asian stocks in general to pare losses and Japanese stocks in particular to finish sharply higher. However, South Korean equities feel the impact of the increasing bellicosity emanating from North Korea. Japan +2.2%, Hong Kong closed, China closed, India -0.7%, South Korea -1.2%, the biggest drop in four months. 1 Comment [Global & FX, Top Stories, On the Move]
Sunday, March 31, 10:18 PM South Korea's PMI rises to its highest level in a year, printing at 52 in March vs. 50.9 previously. Export orders - an area of particular concern given slowing overseas demand coupled with the plunging yen - rose at their fastest pace in two years. "Manufacturers reported strong demand from both China and Japan." EWY -6.2% YTD. Comment! [Global & FX]
Thursday, March 28, 5:25 PM The week's ETF movers - Gainers: GAZ +3.9%. OIL +3.7%. USO +3.4%. EWY +2.9%. XLU +2.3%.
ETF Losers: TAN -4.5%. VXX -3.2%. REMX -3.1%. PSLV -1.8%. GDXJ -1.5%. Comment! [On the Move]
Tuesday, March 26, 11:32 AM South Korean GDP rose just 1.5% Y/Y in Q4, the slowest pace since the financial crisis. The scary news for the country is the yen had only begun to fall at that point and has greatly accelerated to the downside since. Expect a rate cut in Q2 to go along with fiscal stimulus, suggests a local economist. EWY -6.4% YTD. Comment! [Global & FX]
Friday, March 15, 4:52 PM The week's ETF movers - Gainers: GAZ +6.37%. UNG +5.80%. GDXJ + 4.66%. FCG +3.92%. KBWD +1.81%.
ETF Losers: TAN -7.33%. VXX -5.04%. BRF -4.33%. FXI -4.20%. EWY -3.78%. Comment!