South Korean stocks made a comeback Tuesday, helped by net buying by institutions and private investors ahead of the central bank’s Monetary Policy Committee meeting scheduled for this week. The local currency rose against the U.S. dollar.

Starting the day in positive territory, the benchmark Korea Composite Stock Price Index, which lost ground in the past three trading sessions, ended the day at 1,929.26, up 0.11 percent, or 2.04 points, from Monday’s close. Trading volume was moderate at 331.62 million shares worth 4.14 trillion won ($3.88 billion), with advancers outpacing decliners 515 to 295 and 70 staying pat.

Market watchers said bargain hunting, more stable foreign exchange rates and expectations that the government will redouble its push for sweeping stimulus programs to galvanize the national economy helped the bourse. Rumors that the Bank of Korea on Wednesday will again lower key interest rates from the present 2.25 percent helped certain business sectors.

Both institutions and private investors bought more shares than they sold, with foreign investors being net sellers.

“Bargain hunting made it possible for the KOSPI to recover some lost ground, while the possibility of rate cuts helped brokerages to some extent,” said Kang Hyun-gie, an analyst at I’M Securities & Investment Co.

He, however, said that gains may be limited in scope, with the market as a whole undergoing adjustment in the face of shaky economic fundamentals.

Tech giant Samsung Electronics, the flagship company of Samsung Group, advanced 1.71 percent to 1,127,000 won per share, with global appliance manufacturer LG Electronics gaining 0.61 percent to 66,300 won. Memory chip giant SK hynix also moved up 3.84 percent to 43,300 won.

The country’s No. 1 carmaker, Hyundai Motor, surrendered 1.40 percent to 176,000 won, while its smaller affiliate, Kia Motors, lost 1.95 percent to 55,300 won.

Shares of top steelmaker POSCO gained 2.12 percent to 312,500 won.

Stock prices of Samsung Securities Co. jumped 6 percent to 45,900 won with gains also by brokerages such as Hyundai Securities Co. and Daewoo Securities Co.

The local currency ended at 1,064.5 won to the U.S. dollar, up 3.4 won from the previous session. (Yonhap)