Holding Company ETF Rallies Amid South Korean Presidential Election, Tech Stocks Decline Due to US-China Tensions
As South Korea approaches its presidential election, promises related to economic stimulus have sparked optimism in the stock market, leading to a rally in holding company-related ETFs. Notably, the 'TIGER Holding Company' ETF surged by 12.56%, drawing significant attention from investors. This rise is attributed to policy expectations aimed at improving corporate governance, with leading components such as Hanjin Kal, HD Hyundai, SK, Doosan, and LG benefiting from these prospects.
Energy and secondary battery-related ETFs also demonstrated strength, buoyed by electoral promises and global growth in electrical demand. The 'TIGER 200 Energy Chemistry' ETF climbed 11.82% amid optimism surrounding increased power consumption, reflecting the positive outlook in the energy market.
Conversely, ongoing US-China trade tensions and tariff issues negatively impacted Chinese tech and electric vehicle-related ETFs. With the recent reinstatement of tariff measures by a US appeals court on Chinese tech stocks, the 'TIGER China Tech TOP10' ETF experienced a 5.83% decline, underscoring the growing market uncertainty amid persistent trade frictions between the two countries.
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