The benchmark KOSPI rebounded from a steep opening drop to close higher, Monday, as share buybacks by Samsung Electronics and SK hynix lifted the index amid concerns over a potential U.S. interest rate hike in September. The won continued to strengthen, closing in the 1,360-won range against the dollar for the first time in 13 months. The KOSPI closed at 6,820.02, up 0.46 percent from the previous session. The index opened 2.58 percent lower but gained momentum as large-cap stocks rebounded broadly in afternoon trading. Foreign investors sold a net 640 billion won ($467 million) worth of shares, while institutions offloaded a net 793 billion won. Retail investors were also net sellers, unloading 144 billion won. Corporate investors net purchased 1.57 trillion won, absorbing much of the selling pressure. They extended their net-buying streak on the KOSPI to nine sessions. The buying has been supported by share repurchases from major companies, with Samsung Electronics starting a buyback on Aug. 24 as part of an employee compensation program and SK hynix purchasing about 700 billion won to