🔴 Franklin FTSE South Korea ETF is trading 5.5% down today after Korea’s Black Monday selloff

Franklin FTSE South Korea ETF is trading 5.5% down today as markets continue to digest the June 8 Black Monday crash in Seoul.

• The KOSPI index plummeted 8.4% during the session, led by nearly 10% drops in semiconductor giants Samsung Electronics and SK Hynix which triggered market-wide circuit breakers.
• Despite a partial recovery in local tech shares on June 9, the ETF remains weighed down by global risk-off sentiment and expectations of higher-for-longer interest rates from the Federal Reserve.
• Continued volatility in U.S. and global technology shares is adding further downward pressure on South Korean equities.