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Strategies & Market Trends : Korea Fund NY:KF -- Ignore unavailable to you. Want to Upgrade?

To: Liatris Spicata who wrote (14)	11/10/1997 3:55:00 PM
From: Phil Abel	Read Replies (1) \| Respond to of 24

Here's the latest info on KF from that trustnet.co.uk site: Price as of 09-Nov-97 $7.3 (USD) Discount to NAV (%)-21.9 That gives an NAV of about $9.4 Based on Monday activity, KOSPI was up 6%. Assuming that KF is somewhat correlated with the KOSPI and its NAV is also up 6%, that would put today's NAV at $9.9-$10. Yet KF, after a moderately strong open, is back to Friday's low 7's. We are pushing almost a 30% discount to NAV now. Market obviously expecting more KOSPI woes tomorrow following the dow's sucker rally today, despite Korea's bucking of the trend of the rest of Asia today. Technicals look awful cheap right now, and while the downtrend may continue KF does need at least a short term accumulation price rally. However, I'm not about to second guess the fundamentals of an economy, if not an entire continent in perceived financial crisis. The rubber-band is stretched awfully tight right now, and it can either snap back with vengence or it might just break.