$ISHRS MSCI S Korea Capped(EWY.US) dropped by four or five points, and the selling pressure from Samsung and SK Hynix continues to drag down the entire index.
Memory chips are half the lifeblood of Korean stocks; as long as the chain panic persists, the index won't recover.
Conversely, the supply-demand fundamentals for memory remain intact; it's just a matter of unwinding crowded positions. When does the beta of Korean assets become cheap enough to be worth bottom-fishing? Would you wait for it to drop sufficiently before entering, or start building positions in batches?
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