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On August 3 the share price of Daesung Resources, a company in the normally underperforming mining sector on the Korean Stock Exchange (kse), stood at w171,000 ($209.82) about nine times its low for 1995. Daesung shares had been climbing furiously between July 23 and August 2, hitting the daily permissible upper limit every single trading day. And just three weeks later, they had slid 35% from their peak. The rush on the shares was prompted by rumours that the government would permit the coal company to turn its mine sites into casinos. |
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