KOSPI recovers to 2,600 level on net buying by institutions and foreigners

The KOSPI recovered to the 2,600-point level in three trading days on the back of net purchases by institutions and foreigners.

In the stock market, the KOSPI closed 1.58 percent higher at 2610.38 as individuals sold a net 129.8 billion won, but institutions bought a net 86.1 billion won and foreigners bought a net 12.1 billion won.

Samsung Electronics fell to 59,500 won at one point in the session, setting a new 52-week low, but closed 0.66 percent higher at 61,000 won on the influx of backlash buying.

, on the other hand, SK Hynix rose 6.2 percent to recover to 180,000 won in three trading days on the back of a forecast that it will overtake Samsung Electronics in its third quarter earnings.

Individuals sold a net 81.7 billion won, but foreigners bought a net 77.5 billion won and institutions bought a net 10 billion won, up 1.56% to 781.01.

The won-dollar exchange rate rose 13 won to 1,346.7 won as of 3:30 p.m. in the Seoul foreign exchange market.