South Korean stocks rose 0.39 percent Wednesday as global ample liquidity encouraged foreign investors to increase bets on the local equity market, analysts said. The South Korean won fell against the U.S. greenback.

The benchmark Korea Composite Stock Price Index gained 8.24 points to end at 2,119.96. Trading volume was heavy at 443.2 million shares worth 7.28 trillion won ($6.64 billion), with gainers far outnumbering decliners 501 to 305.

"Foreigners are the biggest buyers of South Korean stocks, and their purchasing power is getting stronger on the back of abundant liquidity poured in by the United States and Europe," said Lee Jae-hun, an analyst from Mirae Asset Securities Co. "The index was also driven by optimism about first-quarter corporate earnings."

Offshore investors scooped up a net 319 billion won worth of local shares, extending their buying streak to seven straight sessions. Institutions dumped a net 332.9 billion won on profit-taking.

Samsung Group shares led the increase, with its de facto holding company Cheil Industries soaring 9.96 percent to 14,000 won and tech solution unit Samsung SDS rising 5.27 percent to 13,500 won.

But Samsung Electronics, the No.1 market cap, fell 1.9 percent to 1,446,000 won.

Oil refiners ended positive on rising crude oil prices, with industry leader SK Innovation advancing 2.67 percent to 115,500 won and No. 3 S-Oil adding 1.51 percent to 73,900 won.

GKL, a casino operator, jumped 3.12 percent to 41,250 won on news that it is considering building a casino resort on Yeongjong Island, west of Seoul.

Asiana Airlines dropped 3.95 percent to 8,500 won after one of its passenger jets skidded off a runway after landing in rain at a Japanese airport the previous day.

The local currency closed at 1,096.8 won against the U.S dollar, down 2.8 won from Monday's close. (Yonhap)