Exchange Fights New Scam
The Korea Stock Exchange will conduct a special investigation to crack down on a new type of scheme to artificially inflate stock prices.The price manipulation the exchange is targeting typically involves several investors who work fast, operating through just one or two brokerages within just a few days. They buy up a stock, then place more orders, without the intention of buying, at ever-higher prices while posting false information on the Internet to further jack up the price.
The exchange said that irregular practices in general were on the rise and that it would send investigative teams to brokerages at which signs of such activity have cropped up, with culpable investors and brokerages facing punishment.
with the Korea JoongAng Daily
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