BlackRock South Korea ETF Sees Record Exodus as AI Stocks Soar

Investors pulled cash out of a BlackRock exchange-traded fund tracking South Korean equities at the fastest pace on record on Wednesday amid a broad-based rally that has taken the nation’s stock index to all-time highs.

The $23 billion iShares MSCI South Korea ETF, known by the ticker EWY, recorded $409 million in withdrawals, marking its largest outflow on the fund’s history. The move came as the Kospi index soared 6% that day, boosted by companies in the supply chain for artificial intelligence. The gauge has leaped 75% this year.