“The overall pace of economic growth had improved slightly in most regions of the country during the April-June period, according to an assessment from the Bank of Korea’s 15 regional offices nationwide,” reports Reuters, citing the Bank of Korea. “Manufacturing is forecast to steadily improve in coming months due to higher shipments of semiconductors, display and petrochemical products, while services will gain from an increase in inbound tourists and freight, the report said.”
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Currently, South Korea’s benchmark Kospi is on a six-session winning streak and resides at all-time highs. DBKO holds 114 stocks and reflects South Korea’s status as a technology hub with about 38.5% of the ETF’s roster in technology stocks. Financial services and consumer discretionary names combine for 26.5% of the ETF’s weight.
DBKO’s ascent and recent string of new highs is all the more impressive when considering the won recently touched a multi-week high against the dollar. Over the past 12 months, DBKO has outpaced the MSCI Emerging Markets Index by about 700 basis points.
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