World’s Biggest Stock Rally Ignites Speculative Mania in Korea

In South Korea’s $4.6 trillion stock market, signs of euphoria are popping up everywhere.

Enthralled by a 200% surge over the past year that has far outpaced every other market on earth, locals are borrowing record sums to amplify their bets on stocks. Trading volumes have soared to all-time highs, while daily price swings of 5% or more have become more common — making the benchmark Kospi index the most volatile major stock gauge worldwide.