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Strategies & Market Trends : Value Investing

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To: grace who wrote (3053)	1/15/1998 6:43:00 PM
From: Jyoti sharma	Read Replies (2) of 78654

Grace, Korean stock prices every day morning are available on WSJ interactive under Asian markets-Korea. To compute the premium you have to use the ADR conversion factor ( ie no of shares per ADR) and use the won to dollar conversion ratio. Right now the premium for the three NYSE listed ADR's KEP, SKM, PKX is over 100%. I have sold my PKX and KEP and have only 1000 shares left of SKM. I would not buy the ADR's. To invest in Korea either MAKOX ( open end fund ) or KF is a good vehicle. KF premium is reported once a week on saturday's WSJ interactive edition as well as in Barrons along with other CE funds. During the week I estimate KF premium based on Seoul Composite index, Won / dollar ratio and daily reported change in MAKOX nav. I estimate KF premium today to be less than 25%. I will like to caution you in jumping in Korea right away. My Korean portfolio has gained well over 30% since Jan 1. Even my MAKOX is up over 28.6%. Wait for a pull back. We may get it soon. Best wishes and good investing. Jyoti

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