South Korean stocks closed 0.73 percent higher Thursday, buoyed by the United States Federal Reserve’s decision to maintain stimulus measures, analysts said.

The local currency gained against the greenback.

The benchmark Korea Composite Stock Price Index climbed 14.22 points to finish at 1,949.80. Trading volume was moderate at 380.3 million shares worth 4.71 trillion won ($4.17 billion) with advancers far outpacing decliners 552 to 244.

“The Federal Reserve’s decision to maintain its stimulus measures for the time being boosted the investors’ sentiment,” said Kim Ji-hyung, an analyst at Hanyang Securities Co.

“Better-than-expected economic data from China also added to the local stock market.”

The growth rate of China’s consumer price index in March came to 2.1 percent, falling sharply from the rate of 3.2 percent tallied a month earlier, according to the data released by China’s National Bureau of Statistics.

Analysts added South Korea’s envisioned economic stimulus measures, which include an extra budget, also sustained investors’ sentiment on the stock market. (Yonhap News)