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ETF anomaly | Tracking Korean ETF collectively strong surge, Samsung labor strike risk temporarily calmed down, South Korea's KOSPI index hits new high triggering circuit breaker again.
Tracking the collective strength of South Korean ETFs, as of the time of writing, the TR Korea (02848) rose by 5.66% to 2027 Hong Kong dollars; the E Fund Asia Semiconductor ETF (03486) rose by 3.64% to 23.36 Hong Kong dollars; Samsung Global Semiconductor (03132) rose by 3.62% to 66.94 Hong Kong dollars; and the Southbound Hong Kong-Korea Technology (03431) rose by 2.45% to 11.28 Hong Kong dollars.
Tracking the collective strength of South Korean ETFs, as of the time of writing, the TR Korea (02848) rose by 5.66%, closing at 2027 Hong Kong dollars; the E Fund Asia Semiconductor ETF (03486) rose by 3.64%, closing at 23.36 Hong Kong dollars; the Samsung Global Semiconductor (03132) rose by 3.62%, closing at 66.94 Hong Kong dollars; and the GF HK Korea Tech (03431) rose by 2.45%, closing at 11.28 Hong Kong dollars. In terms of news, according to CCTV News, on the morning of May 27 local time, Samsung Electronics announced the results of an internal vote. The tentative agreement reached between labor and management was approved by 73.7% in the internal vote, temporarily easing the risk of a major strike by Samsung Electronics workers. It is understood that the Samsung Electronics Labor Union (SELU) leading the negotiations has a total of 57,290 valid voting members, of which an estimated 80% to 90% are from the semiconductor division, which fundamentally determines the direction of the voting results. As of May 27, the South Korean KOSPI index saw its intraday increase widen to 5%, reaching a new historical high, and triggering the circuit breaker mechanism once again - the Korea Exchange halted trading due to a 5% increase in the KOSPI 200 futures.
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