EWY: South Korea Stocks Stumble Post-Election, Eyeing Downside Targets

(6min)

Summary

  • Geopolitical tensions and a strong US Dollar contribute to bearish sentiment on the iShares MSCI South Korea ETF, despite its compelling valuation.
  • EWY's significant exposure to Samsung Electronics and SK hynix, along with a high concentration in IT, adds to its risk profile.
  • Technical analysis indicates bearish momentum, with key support levels identified around $55 and $47-$48, suggesting potential buying opportunities.
  • I maintain a hold rating on EWY, awaiting stabilization amid international risks before considering an upgrade to a buy.
the morning of Wolryubong

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Geopolitical tensions took a new turn when former President Trump won re-election earlier this month. Among the many global macro implications that are uncertain concerns China. How will authorities at the helm of the world’s second-largest economy act now that the 45

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