At this writing Sunday night U.S. time, Asia's Monday session is a bloodbath and normally docile South Korean stocks are not immune to that trend. South Korea's benchmark KOSPI is off almost 3.7 percent and earlier in the session touched a 52- week low.
This is not a one-day bout of weakness for South Korean equities. Stocks in Asia's fourth-largest economy have been punished in recent weeks as shares of Samsung Electronic Co. have flailed and tensions with North Korea have escalated, among other factors. The Horizons Korea KOSPI 200 ETF (NYSE: HKOR), a KOSPI tracking ETF trading in New York, has plunged 13.8 percent over the past month.
The iShares MSCI South Korea Capped ETF (NYSE: EWY), the largest U.S.-listed South Korea, is off 12.3 percent over the same period. EWY has also tumbled nearly 31 percent from its May high of just ...
/www.benzinga.com/trading-ideas/long-ideas/15/08/5785254/samsung-and-the-north-just-two-of-the-issues-plaguing-south-k alt=Samsung And The North: Just Two of The Issues Plaguing South Korea ETFs>Full story available on Benzinga.com
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