South Korean markets staged a sharp recovery Tuesday afternoon after President Yoon Suk Yeol reversed a martial law declaration just hours after its announcement following a unanimous parliamentary vote against the measure.
The iShares MSCI South Korea ETF (NYSE:EWY), a key vehicle for U.S.-based investors seeking exposure to South Korean equities, pared early losses of over 6% to trade down 1.6% as of 3 p.m. ET.
Similarly, the Franklin FTSE South Korea ETF (NYSE:FLKR) was down 1%, recovering from steeper declines earlier in the session.
