On June 25, iShares MSCI South Korea ETF (EWY) rose 5.95% in regular trading, trading at $206.8/share, with turnover of $575 million. Multiple positive catalysts converged to drive a strong rebound in Korean equities.

On the news front, SK Hynix formally submitted its Nasdaq IPO application, planning to issue 17.79 million new shares via ADR at a price of approximately $166 per share, targeting roughly $29.6 billion in proceeds with trading expected to commence on July 10. Meanwhile, JPMorgan raised its KOSPI bull-case target to 15,000 points and base-case to 12,500, citing constructive AI demand outlook and strong semiconductor earnings. Goldman Sachs also lifted its KOSPI target to 12,000 points.

The KOSPI index closed up 5.43% on the day, briefly reclaiming 9,000 points after the previous session's nearly 10% crash. SK Hynix surged as much as 15% intraday to a record high, while Samsung Electronics gained 9%, aided by market rumors of a nearly 90 trillion KRW share buyback program. The V-shaped recovery triggered the KOSPI circuit breaker on the upside, halting program trading for five minutes.

The fund generally invests at least 80% of its assets in the component securities of its underlying index, the MSCI Korea 25/50 Index, a free float-adjusted market capitalization-weighted index designed to measure the performance of the large- and mid-capitalization segments of the Korean equity market.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)