The largest exchange-traded fund to track the South Korean equity market jumps to its highest level in more than two years following the country\u2019s presidential election.<\/b>
\nThe largest exchange-traded fund to track the South Korean equity market rose on Tuesday, jumping to its highest level in more than two years following the country\u2019s presidential election.
The liberal candidate Moon Jae-in was elected as the country\u2019s next leader, winning by a substantial margin and ending nine years of conservative rule. Moon has advocated for closer ties with North Korea, and has said that South Korea needs to learn to say \u201cno\u201d to the U. S.
The election ended a five-month power vacuum in the country, which followed the impeachment of President Park Geun-hye on corruption charges.
Despite those gains, the fund has seen outflows recently, with $149 million pulled out of the $3.2 billion fund over the past month, according to FactSet data. Those redemptions have come amid heightened geopolitical tensions with North Korea.<\/p>\n