BlackRock's Emerging Market Upgrade Shifts Focus to South Korean AI Supply Chain
The iShares MSCI South Korea ETF (EWY) rose 2% on Thursday, extending a 50.87% rally year-to-date and a 170.08% increase over the past 12 months. The movement follows BlackRock's upgrade of emerging market stocks, where the firm cited South Korean stocks as a major factor. The upgrade is based on South Korea's role in the AI boom, as the country produces the chips and components used in AI data centers. EWY is designed to track the investment results of the MSCI Korea 25/50 Index, a free float-adjusted market capitalization-weighted index measuring large and mid-cap sectors in South Korea. The ETF typically invests about 80% of assets in the index's major securities. EWY has increased 170.08% over the past 12 months.
More Briefs
Bank Repossessions Jump 45 Percent as Foreclosure Timelines Shrink
Apr 17Morgan Stanley's Bitcoin ETF Lowers the Floor for Spot Bitcoin Exposure
Apr 17Payward's $550 Million Acquisition of Bitnomial Secures the Full U.S. Crypto Derivatives Stack
Apr 17The IRS Impersonation Scam Targets Senior Fiscal Responsibility