Seoul shares rebounded on Monday after posting their biggest weekly fall in nine weeks, with gains led by technology stocks including Samsung Electronics and LG Electronics. Reports that the International Monetary Fund was considering help for Italy further boosted the market, analysts said, with institutions buyers of a net 370.6 billion won ($318.19 million) worth of stocks, picking up shares for a third straight session.
"The market obviously drew strength from news of a possible IMF bailout plan for Italy," said Soo-Young Kim, an analyst at KB Investment & Securities. The Korea Composite Stock Price Index finished up 2.19 percent at 1,815.28 points. The KOSPI 200 index rose 2.4 percent, while the junior Kosdaq market advanced 1.4 percent.
Samsung Electronics Co Ltd, the world's No 1 memory chip maker and the world's No 2 handset maker, rallied 3.3 percent. LG Electronics Inc, the world's No 3 handset maker, jumped 8.6 percent, its the biggest daily percentage gain in two months. LG Display Co Ltd, the world's No 2 flat panel maker, advanced 6.3 percent.
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