South Korean stocks ended 0.26 percent higher on Thursday as investor hopes for rallies next year outweighed falls in high dividend stocks, analysts said. The local currency gained against the U.S. dollar.

The benchmark Korea Composite Stock Price Index rose 5.1 points to 1,987.35. Trading volume was moderate at 371.9 million shares worth 3.02 trillion won ($2.82 billion), with decliners outnumbering gainers 434 to 380.

“Investors snapped up shares on hopes for next year,” said Kim Young-jun, an analyst at SK Securities Co. “While investors are still aware of the U.S. fiscal crisis, they are betting things would eventually improve.”

Tech shares led the gains, with market bellwether Samsung Electronics adding 1.77 percent to 1,496,000 won. Panel giant LG Display jumped 3.69 percent to 30,950 won on rosy outlooks for its fourth-quarter earnings.

Korea Line surged 14.95 percent to 4,730 won following media reports that conglomerate groups SK and CJ were among the bidders that have submitted preliminary bids to obtain management control of the shipper.

In contrast, high-dividend stocks underperformed the KOSPI as they went ex-dividend, which means investors who buy those shares become ineligible to receive dividends.

Top mobile operator SK Telecom slumped 4.1 percent to 152,000 won and No. 2 mobile carrier KT tumbled 5.33 percent to 35,500 won.

NHN, the operator of South Korea’s most visited Web portal, slipped 0.44 percent to 225,000 won on rumors of a plan to spin off its game business. (Yonhap News)