🔴 IDKO.L is trading 3.9% down today as South Korea rate hike and tech selloff weigh on equities

IDKO.L is trading at $117.22 (-3.89%) as a surprise Bank of Korea rate hike and a global tech selloff continue to pressure Korean equities.

• The Bank of Korea’s unexpected 25 bps rate hike on July 16 triggered a 6.6% KOSPI plunge, leading to heavy selling in major semiconductor leaders like Samsung Electronics and SK Hynix.
• Broad risk-off sentiment fueled by global AI valuation concerns and a wider technology sector downturn is keeping Korea-focused ETFs underperforming.