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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: P.T.Burnem who wrote (26540)	9/4/1998 4:14:00 PM
From: P.T.Burnem	Respond to of 94695

NEW YORK, Sept. 4 /PRNewswire/ -- The Pakistan Investment Fund, Inc. (''PKF'') (NYSE: PKF - news) announced today that its net asset value per share as of the close of business on September 3, 1998 was $2.67. The Fund also announced that, in view of the restrictions that have been placed on the repatriation of currency from Pakistan, the Fund is determining its net asset value on a fair value basis (i.e., not based solely on market quotations).

To: P.T.Burnem who wrote (26540)	9/4/1998 4:15:00 PM
From: Oeconomicus	Read Replies (2) \| Respond to of 94695

Short-covering or tape-painting? Didn't it start at almost exactly the same time as yesterday? And didn't Rubin come out of his meetings at the same time both days? Not to sound like a conspiracy theorist, but... BTW, did the futures move up first and kick off buy programs or was it real buying/short covering?

To: P.T.Burnem who wrote (26540)	9/4/1998 4:20:00 PM
From: P.T.Burnem	Read Replies (1) \| Respond to of 94695

NEW YORK, Sept. 3 /PRNewswire/ -- The Malaysia Fund, Inc. (NYSE: MF - news; the ''Fund'') announced today that in light of the capital restrictions imposed by the Malaysian government earlier this week, it is computing its net asset value based on the ''fair value'' of its Malaysian securities. Michael Klein, the Fund's President, commented: ''Important details of the capital restrictions and of their administration are not yet available. However, it appears that, at a minimum, the Fund will need to obtain approvals from the Malaysian Central Bank in conducting various aspects of its investment operations, and that it will be subject to severe limitations on its ability to convert Malaysian ringgits into U.S. dollars for at least the next year.'' Mr. Klein stated: ''The capital controls, and uncertainty regarding their implementation, has resulted in severe disruptions to the trading market for Malaysian securities, including the temporary virtual elimination of foreign investors from such market. In addition, a fixed exchange rate has been imposed. The Fund has determined that it is not appropriate to use the prices on the Kuala Lumpur Stock Exchange (''KLSE'') in computing its net asset value in the current environment. Accordingly, the Fund has commenced valuing its Malaysian securities on the basis of their ''fair value'', effective yesterday. The Fund's net asset value per share was $1.84 at 4:00 p.m. on September 3, 1998.'' MF closed up 10% today @ $3 5/16 :)