South Korea's iShares MSCI South Korea ETF (EWY) has traded near $160–167 in mid-October 2026 after closing at $166.56 on October 13, reflecting a sharp 4%+ intraday drop amid heavy foreign selling and a 5.5% KOSPI plunge driven by semiconductor weakness. The fund's ~51% IT weighting leaves it highly sensitive to Samsung Electronics and SK Hynix, which fell 7–10% on October 13 following reports of Chinese competitor CXMT advancing denser DRAM designs and server products, alongside broader concerns over AI capital spending and memory pricing power. Despite the recent volatility—EWY remains down roughly 9% over the past month—the ETF holds a strong YTD gain exceeding 68%, supported by the IMF's upward revision of Korea's 2026 GDP growth forecast to 3.3% on semiconductor export strength. Traders are monitoring upcoming U.S. CPI data and Fed communications for rate-path implications, as well as any stabilization in chip demand or foreign flows that could influence October closing levels.