Despite Political Problems, Korea (EWY) ETF Hits High
February 25th at 12:41pm by Tom Lydon
The South Korean exchange traded fund (ETF) hit a year-to-date high as political conflicts get worked out. A December presidential election has left some time to get political wrinkles ironed out and South Korean president Roh Moo Hyun has left the Uri party to help members settle conflict. Roh believes his departure will lead to a resolution between supporters and opponents of his party.
Kim Kyoungwha of Bloomberg.com reports the economy of $788 billion is expected to expand at 4.5% this year, the slowest in five years. A slowdown in consumer spending met with an overall global reduction for the country’s exports are culprits. Look into the iShares MSCI South Korea Index (EWY).
