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Korea Fund (KF)

- NYSE
  • Tue, Sep. 1, 2:50 AM
    • South Korean exports tanked by the most in six years in August, bolstering expectations its central bank will cut rates next week to tackle a rapidly darkening outlook.
    • Exports fell 14.7% last month from a year before, dragged down by a heavy slowdown in China and a sharp decline in exports to Europe and Japan.
    • The data is important as it provides the first full trade picture in the region after China's currency devaluation on August 11.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR, HEWY
    | Tue, Sep. 1, 2:50 AM | 1 Comment
  • Fri, Aug. 28, 2:40 AM
    • North Korean leader Kim Jong Un is calling this week's accord between the rival Koreas "a landmark occasion" for improved ties, but said it was the strength of its armed forces that made the deal possible.
    • Officials from the two nations held three-days of marathon talks after an exchange of fire across their border, raising fresh hopes for a push to restore talks and exchanges that had been cut off since 2010.
    • South Korea's KOSPI Index +1.6% to 1,938.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR, HEWY
    | Fri, Aug. 28, 2:40 AM | 2 Comments
  • Wed, Aug. 26, 4:04 AM
    • South Korea is willing to discuss North Korea's demand for an end to sanctions, and is preparing a new channel of dialogue with the North, just a day after the rivals struck a landmark pact that defused a standoff between their forces.
    • Tuesday's accord saw North Korea express regret over a landmine incident that wounded South Korean soldiers and the South agree to stop broadcasting anti-North propaganda over its border loudspeakers.
    • South Korea's KOSPI Index closed up 2.6% on the news.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR, HEWY
    | Wed, Aug. 26, 4:04 AM | 3 Comments
  • Fri, Aug. 21, 2:50 AM
    • North Korean leader Kim Jong Un ordered his troops to go on a "semi-war state" this morning after Pyongyang issued an ultimatum to Seoul to halt anti-North loudspeaker broadcasts by Saturday afternoon or face military action.
    • The Kim regime has frequently issued bellicose statements, claiming that the divided Korean Peninsula was "on the brink of war," but the latest threat followed a highly unusual exchange of artillery shells across the two nations' border.
    • South Korea, which is currently in the middle of joint military exercises with the U.S., rejected the North Korean demand.
    • Kospi -2% to 1,876.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR, HEWY
    | Fri, Aug. 21, 2:50 AM | Comment!
  • Thu, Jul. 23, 3:09 AM
    • Lots of news came out of Asia and Oceania overnight: Japan's exports increased the most in five months in June, fueled by strengthening overseas demand, but imports remained subdued due to the effect of lower commodity prices.
    • South Korea's economy recorded its weakest expansion in six years in Q2, recording just 0.3% growth from the previous quarter, as the country got battered by a MERS outbreak and a severe drought.
    • Lastly, New Zealand's central bank cut interest rates for the second time in six weeks, stating further easing would likely be necessary to stoke inflation.
    • ETFs: DXJ, EWJ, EWY, DFJ, DBJP, ENZL, NKY, KF, JOF, EZJ, JEQ, JPNL, DXJS, EWV, KEF, SCJ, HEWJ, JSC, ITF, KORU, JPP, DXKW, FKO, HKOR, DBKO, QJPN, FJP, DXJT, JPMV, DXJC, DXJR, QKOR, DXJH, JHDG, DXJF, HGJP, JDG, JPN, HEWY
    | Thu, Jul. 23, 3:09 AM | Comment!
  • Thu, Jul. 9, 3:53 AM
    • The Bank of Korea held its key interest rate at a record low, but cut the country's growth forecast for the year again, as the impact of an outbreak of MERS, a severe drought and slowing exports dent the economy.
    • GDP for the year is now forecast to come in at 2.8%, down from a 3.1% projection made in April. At the start of the year the BOK expected to achieve 3.9% growth.
    • Making it the largest outbreak outside Saudi Arabia, MERS has infected about 186 people and left 35 dead since the disease was first reported in the country on May 20.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR, HEWY
    | Thu, Jul. 9, 3:53 AM | Comment!
  • Thu, Jun. 25, 2:35 AM
    • As its economy gets hammered by the MERS virus, South Korea is planning a stimulus package of more than 15T won ($13.5B) to cushion the economic impact of the deadly respiratory disease.
    • The country's finance ministry also cut its outlook for economic growth this year to 3.1% and slashed its inflation projection to 0.7%.
    • The disease, first reported in the nation on May 20, has infected 180 people and killed 29.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR
    | Thu, Jun. 25, 2:35 AM | Comment!
  • Tue, Jun. 23, 6:21 AM
    • Samsung Group heir apparent Lee Jae Yong apologized in a nationally televised address on Tuesday for failing to stop the spread of MERS at a Seoul hospital run by a group foundation.
    • About half of the 175 MERS cases in South Korea have been traced to Samsung Medical Center.
    • The outbreak has prompted travel restrictions and scared off tourists, dealing a blow to the country's economy.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR
    | Tue, Jun. 23, 6:21 AM | 2 Comments
  • Sun, Jun. 14, 11:37 AM
    • The World Health Organization said on Saturday South Korea's MERS outbreak was "large and complex" and more cases should be anticipated, but it saw no sign the disease is spreading in the community.
    • On June 11, the Bank of Korea lowered its key rate to a record 1.5%, calling MERS “an imminent risk to consumption." Two days earlier, Goldman Sachs cut its 2015 growth forecast for South Korea to 2.8% from 3.3%, partly because of the potential impact of the virus.
    • MERS has infected 138 people in South Korea and killed 14 of them since it was first diagnosed on May 20.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR
    | Sun, Jun. 14, 11:37 AM | 2 Comments
  • Fri, Jun. 12, 1:58 AM
    • South Korea's MERS outbreak has triggered concerns over the economy, but analysts seem to be saying the recent sell-off may be overdone.
    • "MERS is dangerous, but I think investors are overreacting, especially people from overseas who don't know the reality in South Korea," said Regina Hahm, analyst at Daewoo Securities.
    • The benchmark Kospi index has declined 3.4% since the country confirmed its first MERS case on May 20, and the Bank of Korea reportedly cut rates yesterday to stave off economic fallout from the virus.
    • Previously: MERS pushes South Korea to cut rates (Jun. 11 2015)
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR
    | Fri, Jun. 12, 1:58 AM | Comment!
  • Thu, Jun. 11, 1:54 AM
    • A deadly outbreak of Middle East Respiratory Syndrome (MERS) forced South Korea's central bank to cut interest rates on Thursday as authorities reported 14 new cases.
    • The 25 bps cut to a record-low 1.5% is the country's fourth rate reduction in less than a year and the seventh since the current easing cycle began three years ago.
    • South Korea has already reported 122 cases and nine deaths due to the virus, and many fear Hong Kong might be next.
    • ETFs: EWY, KF, KEF, KORU, DXKW, FKO, HKOR, DBKO, QKOR
    | Thu, Jun. 11, 1:54 AM | 7 Comments
  • Nov. 23, 2010, 4:54 PM
    Since war is out of the question, one emerging markets pro sees the Korean kerfuffle as a buying opportunity, "both short-term for a 20%-plus flip and 200% for long-term investment." Since nearly all Korean firms don't trade or barely trade in the U.S., South Korean closed-end funds such as Korea Fund (KF) offer opportunities for U.S. investors.
    | Nov. 23, 2010, 4:54 PM | 5 Comments
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Company Description
Under the prior restriction on lending, the Fund was limited to lending securities equal to no more than 25% of its total assets. Current SEC staff guidance permits securities lending up to 50% of the Funds net assets (33% of its total assets, including co