South Korean stocks ended 0.47 percent higher on Wednesday as investors scooped up shares amid eased concerns over Greece and hopes on the European Central Bank (ECB)'s massive stimulus, analysts said. The local currency weakened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 9.18 points to 1,961.58. Trading volume was moderate at 392.8 million shares worth 5.3 trillion won (US$4.9 billion), with gainers outnumbering decliners 479 to 319.

The KOSPI got off to a weak start as overnight losses on Wall Street dampened investor sentiment but moved upwards as institutions snapped up shares.

Analysts said that investors are shifting away from concerns over Greece's possible exit from the eurozone and turning to gains from the ECB move.

"The market is focusing on how much the eurozone economy will benefit from the ECB decision rather than worrying about Greece," said Kang Hyun-gie, an analyst at I'M Investment & Securities.

"Anticipation over increased consumption have shored up share prices of energy, shipbuilding and chemical sectors."

Hyundai Heavy Industries, the world's largest shipyard, jumped 8.49 percent to 115,000 won.

Stocks with solid fourth-quarter earnings also fueled gains.

Samsung SDS soared 11.98 percent to 271,000 won after posting a 17.4 percent gain in yearly operating profit last year. LG Household & Health Care also added 7.99 percent to 676,000 won on its record annual profit.

Game behemoth NC Soft shot up 14.81 percent to 217,000 won after its biggest stakeholder Nexon announced plans to take part in its management. NC Soft criticized the move by the country's biggest game developer, raising concerns that it may weaken its competitiveness.

"While Nexon's announcement will drive up share prices in the short-term, it is unlikely to be positive for NC Soft's earnings if the friction between the two game developers prompts management feuds or delays in game releases," said Ahn Jae-man, an analyst at Kiwoom Securities.

Financial shares ended bearish with Shinhan Financial falling 3.86 percent to 44,850 won and KB Financial slumping 3.44 percent to 36,500 won.

Screen maker LG Display ended 1.23 percent lower at 36,050 won despite posting its best profit in four years.

The local currency ended at 1,084.5 won against the U.S. dollar, down 4.7 won from Tuesday's close.

Bond prices, which move inversely to yields, gained sharply.

The yield on three-year Treasurys fell 2.5 basis points to 2.004 percent, and the return on the benchmark five-year government bonds sank 2.9 basis points to 2.079 percent. (Yonhap)