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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (228)	12/28/1997 10:53:00 PM
From: kormac	Respond to of 9980

washingtonpost.com A story on the negotiations regarding Korea's package. I wonder what they are talking regarding Japan right now? Seppo

To: Tommaso who wrote (228)	12/28/1997 11:42:00 PM
From: Shoe	Read Replies (1) \| Respond to of 9980

Tommaso, among discounted closed-end funds APF may be attractive, unless you want to avoid Japan (even if so, one might hedge the Japanese exposure through shorting EWJ or other funds, see below). A substantial repurchase program recently was announced at APF, but the discount is still nearly 18%. biz.yahoo.com Also net asset value will now be provided daily, which may attract more investors to the fund. I agree re: KF -- IMHO, funds selling at premiums are strictly for shorting. I am long APF as well as TWN and TYW, but short JOF and JEQ. Good luck! -- Shoe

To: Tommaso who wrote (228)	12/31/1997 9:17:00 AM
From: Jyoti sharma	Respond to of 9980

Tommaso, Your posts about CE funds. You are right about not buying funds at a premium. I have been trading Closed end funds for a while. CE funds are not rationally priced. My experience is US investors do not care much about premiums and discounts. The country funds go to a discount on peaks and premium on the valley's. The net effect is to reduce the volatility some what. Each fund has its own d/p pattern. Morningstar provides data going back a few years. Among the asian country funds most are trading close to par or are at a premium now. Korea fund very rarely trades at a discount and is a unique situation. They are able to buy their stocks locally. Other Korean funds buy mostly ADR's traded in USA and their true premium is a lot higher than reported in WSJ. There is no easy way to invest in Korea. The best Korean stock PKX is now trading at a 200% premium and has a huge short position. Inspite of this PKX is the favorite of top rated Wall street steel analysts. I am still waiting to buy it below 12 or at a reasonable premium. PKX is one stock which is going to benefit from Won devaluation. BTW you can buy Malaysia at par with EWM. Happy new year and good investing. Jyoti