Net assets of South Korean exchange-traded funds fell to 392.6275 trillion won ($268 billion) as of the 6th, ending a 66-trading-session stretch above 400 trillion won and reversing an expansion that carried the market past 500 trillion won in May. The decline followed sharp losses in the KOSPI and semiconductor shares after a "blue wave" shock raised concerns that the Democratic Party, following its sweeping U.S. midterm election victory, would regulate the artificial intelligence industry. The KOSPI dropped 5.28% on the 5th and 6.02% on the 6th, while Samsung Electronics and SK hynix also suffered steep declines. TIGER S&P500 became the largest ETF by net assets as of the 5th, overtaking KODEX 200, and three of the five biggest funds tracked U.S. indexes. Asset managers said the market's expansion could stall if the stock-market decline persists and investors withdraw from semiconductor-related ETFs.