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Part of: Semiconductor Cycle

South Korea ETF becomes most crowded macro trade as volume soars to 14% of global equity ETF flow

EWY (South Korea ETF) now accounts for ~14% of all global equity ETF volume across 688 tracked funds, per Goldman Sachs. The concentration reflects risk-on positioning on Korea tech and semiconductors, but also signals the trade has become dangerously crowded. Strategists warn of reversal risk.

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