South Korean stocks rebounded by more than 1 percent on Monday, breaking a four-day losing streak as investors engaged in bargain hunting following the dashed hopes for an immediate rate cut by the Federal Reserve. The local currency also strengthened against the US dollar. The benchmark Korea Composite Stock Price Index rose by 35.59 points, or 1.32 percent, closing at 2,722.99. Trade volume was moderate, with 546 million shares worth 15.6 trillion won ($11.4 billion) exchanged, and losers slightly outnumbering gainers at 442 to 422. Foreign investors sold a net 140 billion won worth of local shares, while institutions purchased a net 325 billion won and individuals shed a net 175 billion won. The recent hawkish comments in the US Federal Open Market Committee's meeting minutes had caused Seoul shares to decline for four consecutive sessions, prompting investors to adopt a cautious approach as they sought indications of the future trajectory of US key rates. Analysts, such as Kim Dae-joon from Korea Investment & Securities, noted that the market may continue to be influenced by the aftermath of the FOMC minutes throughout the week. In terms of sector performance, tech shares, including Samsung Electronics and SK hynix, closed higher, while machinery firms like Hanmi Semiconductor and Doosan Enerbility, as well as battery makers such as LG Energy Solution and Samsung SDI, also experienced gains. The local currency ended at 1,363.80 won against the greenback, marking an increase of 5.7 won from the previous session's close. (Yonhap)