SK Hynix Frenzy: Korea ETF Sees Record Cash Inflow

A record amount of money flooded into the largest US-listed South Korea exchange-traded fund (ETF) this week. Investors are using the fund as a proxy to buy into chipmaker SK Hynix Inc. The move comes because SK Hynix’s new American depositary receipts (ADRs) trade at a high premium compared to its shares in Seoul. By buying the ETF, investors gain exposure to the stock without paying the extra cost. The ETF, known by the ticker EWY, saw its highest single-day inflow ever.