'Foreign buying' recovers to the 2,400-point KOSPI, KOSDAQ rises

Our stock market, which fell for two consecutive days last week, closed more than 1% higher on foreign and institutional buying.

In the stock market, the KOSPI recovered to the 2,400-point level, rising 1.57 percent to 2,442.01, helped by net purchases of 150 billion won by foreigners and 440 billion won by institutions.

Most of the top market cap stocks rose, with Samsung Electronics up 1 percent and SK Hynix up 0.7 percent.

On the KOSDAQ market, the KOSDAQ index also closed up 1.64 percent at 679.24, with foreigners buying a net 130 billion won and institutions buying a net 100 billion won.

The local currency opened at 1,446 won against the U.S. dollar in Seoul's foreign exchange market, up 0.6 won to 1,452 won as of 3:30 p.m.