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Strategies & Market Trends : Thai Funds
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To: alan lewis who wrote (91)3/2/1998 12:05:00 PM
From: peter michaelson  Read Replies (2) of 107
 
Alan:

On another topic, what are your thoughts re the Korea ADR's. I calculate that SKM (SK Telecom) currently sells on the NYSE at a 110% premium to its Korean local price, PKX (Pohang Iron & Steel) at 85% and KEP (Korea Electric Power) at 60%.

I've read that the Government of Korea is currently "committed" to opening their markets to 100% foreign ownership by the end of 1998.

I'm currently short all three and longs in FAK (Fidelity Advisor Korea) and MAKOX (Matthews Korea) funds.

What am I not understanding?

thanks, peter
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