SSNLF - Korea Fund: Broadly Favorable But Risks Remain

2024-05-01 13:29:03 ET

Summary

• The Korea Fund Inc. is an old foreign CEF (30-year history) that focuses on Korean stocks and is currently managed by John Cho.
• Korean stocks offer one of the most alluring valuations to earnings trade-offs.
• KF's earnings are benefiting from the bounce back of the memory chip market and South Korea's positive export growth.
• Tax reforms by the ruling government could face challenges given the outcome of last month's legislative elections.
• On the weekly chart, KF has just broken down from its ascending channel, and previously we've seen profit taking at these levels.

Fund Snapshot And Performance

The Korea Fund Inc. ( KF ), which focuses on 57 Korean stocks, is one of the oldest foreign CEFs (Close-end fund) around, having been established way back in August 1984. KF’s goal is to pick out Korean listed stocks which score highly on the growth, quality and valuation front....

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