EWY's price action this week centers on AI memory chip demand supporting Samsung Electronics and SK Hynix, which together exceed 50% of the ETF's index weight and have fueled YTD gains above 75% despite sharp swings. Recent deleveraging of leveraged positions and margin debt after July's correction has reduced near-term downside pressure, with the fund rebounding from lows near $160 to trade in the $171–$180 range as of August 24. Traders monitor DRAM and NAND pricing trends alongside U.S. data-center capex and broader equity risk sentiment for catalysts, while noting the ETF's 51% IT sector exposure leaves it highly sensitive to any shifts in semiconductor fundamentals or foreign flows into the KOSPI.