Further to the conversation on market corruption and illegal trading, particularly naked shorting, 

Coming soon to a "developed" capital market near you.

South Korean Stocks Soar After Country Inexplicably Bans Short Selling Until June 2024

https://www.zerohedge.com/markets/south-korean-stocks-soar-after-country-inexplicably-bans-short-selling-until-june-2024

excerpts ...

“Amidst market turmoil, we’ve discovered massive illegal naked short-selling by global investment banks and circumstances of additional illegal activities,” Financial Services Commission Chairman Kim Joo-hyun told a briefing. “It’s a grave situation where illegal short-selling undermines fair price formation and hurts market confidence.”

Lee Bokhyun, governor of the Financial Supervisory Service watchdog, told reporters about 10 global banks will face investigations which account for most short-selling transactions in South Korea.

During the ban, South Korea will seek a “fundamental improvement” to level the playing field for retail investors in the coming months, including seeking ways to narrow the different short-selling requirements and conditions between institutions and individual investors, Kim said.  Authorities will also seek stronger punishments on illegal short-selling activities. They will continue to look into short-selling transactions of global banks with the introduction of a special investigation team on Monday.

“The short-sell ban will further jeopardize Korea’s chances of moving from Emerging Market to Developed Market,” Freitas said. “Expect bubbles to form in pockets of the market that are favored by retail investors as short selling no longer acts as a brake on absurd valuations.”

Funny how the authors go from a story on corruption, manipulation and illegal naked short selling, to crying how short trading is no longer being available to act as a brake on absurd valuations. The original spirit/intent of healthy short selling has being bastardized and destroyed by criminal banks and brokers at the huge expense of retail investors. 

For those unfamiliar with naked shorting, it is selling shares to short a stock that you neither own or properly borrowed. Naked shorting increases the total outstanding shs with shs that don't exist. That is how Gamestop  https://en.wikipedia.org/wiki/GameStop_short_squeeze     had 140% of its shs shorted. There weren't enough shs available to cover short positions thus the ridiculous rise in price as shorts scrambled to try and cover.