Daily Movers: South Korea EWY Fell 6.62%

Monday reflected an Asia-led risk-off rotation. South Korea EWY fell 6.62% and extended its 3M downtrend. Taiwan EWT lost 3.34%. Semiconductors SMH dropped 4.75%. Preferred Stock PFF fell 0.70%. Mortgage-Backed Bonds MBB declined 0.18%. Communication Services XLC rose 2.19%. Health Care XLV gained 1.45%. Bitcoin IBIT advanced 2.22%. Biotech IBB added 0.82%.

Equity: U.S. sectors led, North Asia weakness deepened

Movers

Leaders: Communication Services XLC +2.19% (3M: +3.3%), Healthcare XLV +1.45% (3M: +9.5%)

Laggards: South Korea EWY -6.62% (3M: -10.8%), Taiwan EWT -3.34% (3M: +4.5%)

3M Leaderboard

Strong: Energy XLE +12.9%, Healthcare XLV +9.5%, Brazil EWZ +8.5%

Weak: South Korea EWY -10.8%, Utilities XLU -5.5%, S&P MidCap Growth MDYG -4.1%

Fixed Income: Government bond proxies steadied, preferreds and mortgages lagged

Movers

Leaders: Long Treasuries TLT +0.07% (3M: -4.5%), TIPS TIP -0.02% (3M: -1.8%)

Laggards: Preferred Stock PFF -0.70% (3M: -2.3%), Mortgage-Backed MBB -0.18% (3M: -2.3%)

3M Leaderboard (within FI scale)

Strong: High Yield Bonds JNK -0.2%, High Yield HYG -0.3%, Short TIPS VTIP -0.4%

Weak: Long Treasuries TLT -4.5%, Investment Grade Credit LQD -3.2%, Muni Bonds MUB -2.9%

Specialty: Crypto and biotech led, semis and miners lagged

Movers

Leaders: Bitcoin Trust IBIT +2.22% (3M: +24.1%), Biotechnology IBB +0.82% (3M: +19.9%)

Laggards: Semiconductors SMH -4.75% (3M: -12.7%), Gold Miners GDX -3.05% (3M: +17.6%)

3M Leaderboard

Strong: Ethereum Trust ETHA +52.5%, Bitcoin Trust IBIT +24.1%, Biotechnology IBB +19.9%

Weak: Clean Energy ICLN -15.8%, Semiconductors SMH -12.7%, Infrastructure PAVE -8.1%

Cross-Asset Read

Asia-led risk-off rotation framed the session; Asia equity weakness and semiconductor pressure sat alongside gains in defensives and selective specialty growth. Leadership concentrates in XLE, XLV, EWZ, ETHA, IBIT, and IBB on the 3M ranks; Monday extended the standing uptrends in XLV, IBIT, and IBB, extended the downtrends in EWY and SMH, and left TLT as the lone fixed-income leader that rose against a 3M downtrend. Volatility expands in IEF, MUB, and TIP, while compression sits in ACWV, COPX, DIA, PFF, and IBB; the cross-asset field is defensive in equities, selective in specialty, and unstable in rate-sensitive bonds.

Romain Gandon
CEO, Quantlake

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice. Past performance is not indicative of future results.