EWY trades near 170 as of October 12, 2026, after a sharp 4% single-day drop amid a 3.65% KOSPI decline driven by foreign net selling exceeding 2 trillion won. The ETF’s heavy 46% weighting in Samsung Electronics and SK Hynix ties its performance directly to memory-chip pricing and AI infrastructure spending, which delivered record Samsung operating profit of 107.4 trillion won in Q3 yet failed to offset profit-taking and concerns over hyperscaler capex sustainability. Year-to-date gains exceed 80%, but the index has retraced from its June high of 221 amid elevated volatility and inflation signals. Key near-term catalysts include upcoming results from SK Hynix, TSMC, and ASML plus U.S. CPI data, which will shape trader assessments of whether the semiconductor cycle can sustain current valuations.