South Korean stocks closed 1.26 percent higher Wednesday as concerns eased over whether Argentina's financial jitters would spread to other emerging markets, analysts said. The local currency jumped against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 24.22 points to 1,941.15. Trading volume was moderate at 213.1 million shares worth 4.18 trillion won (US$3.9 billion) with gainers outpacing losers 647 to 168.