Seoul stocks spike over 4% on sustained tech rally

Seoul stocks spiked by more than 4 percent on a tech rally following Alphabet's second-quarter earnings release.

The Korean won rose against the US dollar.

The benchmark Korea Composite Stock Price Index closed up 299.19 points, or 4.4 percent, to 7,096.89.

Trade volume was moderate at 392.3 million shares worth 26.7 trillion won ($18.2 billion).

Winners outnumbered losers 829 to 73.

"The Kospi recovered to land at the 7,000-point level, helped by foreign investors who snapped up semiconductors, ...