Seoul shares spike for 5th straight day on chip rally

South Korean shares ended sharply higher for the fifth straight session Friday as investors snapped up shares of major chipmakers. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 164.60 points, or 2.42 percent, to close at 6,977.94 On Wall Street overnight, the Dow Jones

South Korean stocks ended sharply higher for the third straight session Wednesday as foreigners and institutional investors scooped up major chipmakers.