MKOR is trading 3.2% down today following a surprise 25bps rate hike by the Bank of Korea, marking its first tightening move since January 2023.
- The unexpected hike aims to curb persistent inflation and mitigate economic spillovers from the escalating U.S.-Iran conflict.
- South Korea’s KOSPI index plummeted 6.6%, with major tech holdings including Samsung Electronics and SK Hynix seeing sharp declines.
- This shift in monetary policy ends a year-long pause, weighing heavily on Korea-focused equities and tech-heavy indices.