South Korean stocks tank as president declares martial law
Portfolio Pulse from
South Korean stocks experienced a significant decline following President Yoon Suk Yeol's declaration of martial law, aimed at protecting the country from North Korean threats.
December 03, 2024 | 4:45 pm
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NEGATIVE IMPACT
The iShares MSCI South Korea ETF (EWY) is likely to be impacted negatively in the short term due to the sharp decline in South Korean stocks following the declaration of martial law by President Yoon Suk Yeol.
EWY, an ETF that tracks South Korean stocks, is expected to decline as the South Korean market reacts negatively to the political instability caused by the declaration of martial law. This move is seen as a response to North Korean threats, increasing uncertainty in the region.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80