Seoul stocks end higher for 2nd day on extended chip rally

Seoul stocks ended higher for the second consecutive session Wednesday on an extended chip rally ahead of upcoming earnings releases from US big tech companies.

The Korean won fell against the US dollar.

The benchmark Korea Composite Stock Price Index closed up 49.75 points, or 0.74 percent, to 6,797.7 after rising as high as 7,166.00.

After opening sharply higher, the index shed some of the early gains as retail and institutional investors sold off tech heavyweights to lock in profits.

The two ...