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

To: Mohan Marette who wrote (3705)	5/19/1998 10:27:00 AM
From: peter michaelson	Respond to of 9980

The prices of the Indonesian ADR's and closed end funds on the New York Stock Exchange are solidly up on this news. Despite the fact that the closed end funds are sporting 100% premiums once again and the ADR premiums are at new highs. Despite the fact that the rupiah is back close to 14000 to the USD once again. Despite the fact that the new devil is unknown. In July, Thai CEF's and ADR's ran up quickly on the news of devaluation, then soon sank very far. TTF went up to $20 and then down to $7. My theory is that Americans invest in accordance with what is considered "good news" by our party line - free markets, democracy - regardless of whether it makes any investment sense at all. Indonesia Fund is now short-able again. Peter