PLUS Korea Manufacturing Core Alliance Index ETF

KMCA

Market cap $4.39M

South Korean stocks plunged as investors pulled back from artificial intelligence bets. Meanwhile, a tech-centered camaraderie was on display last week with Nvidia CEO Jensen Huang's night out in Seoul with South Korea's tech corporate royalty, including leaders from SK Group, LG Group and Naver Corp.

Earnings are the principal driver behind the breathtaking rallies achieved by Korean and Taiwanese benchmark indices in 2026, and Goldman Sachs thinks the market is still underestimating the longevity of the chip cycle.

The benchmark consumer-price index rose 3.1% from a year earlier in May, reflecting the effects of higher oil prices amid Middle East tensions and the won's weakness against the U.S. dollar.

News that Samsung management had managed to negotiate successfully with labor unions prompted a steepling rally in SOuth Korean stocks, augmented by the bullish comments from Nvidia's CEO about the AI industry

Investors are focusing on AI developments in North Asia. China is coming out of more than three years of deflation measured by the producer price index.