Seoul shares spike over 5% to approach 7,000 on chip rally; won sharply up

South Korean stocks shot up by more than 5 percent to close at a fresh high Monday, approaching the 7,000-point mark, as investors scooped up semiconductor shares while awaiting developments in US-Iran peace talks. The Korean won rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 338.12 points, or 5.12 percent, to a fresh record high of 6,936.99. Trade volume was heavy at 864.3 million shares worth 41.3 trillion won ($28.2 billion), with losers outnumbering

By The Korea Herald