South Korean stocks edged up 0.45 percent Thursday, rising for the third straight day, as fresh optimism for an economic rebound offset worries about Greece's debt problem, analysts said. The local currency fell against the U.S. dollar.
  

The benchmark Korea Composite Stock Price Index climbed 9.44 points, or 0.45 percent, to finish at 2,107.33. Trading volume was heavy at 558.6 million shares worth 6.98 trillion won ($6.21 billion) with gainers outstripping decliners 427 to 370.
  

Analysts said investors have moved away from the fear of a sovereign default in debt-mired Greece, which awaits its crucial Sunday referendum on a bailout plan offered by international creditors.
  

"The market is now more interested in second-quarter corporate earnings and the Federal Reserve's rate cut issue," said Kim Jeong-hyun, an analyst at IBK Securities Co.
  

Although the Greek jitters will continue for some time, market consensus is leaning on a bet that the problem will eventually be resolved, he added.
  

An overnight U.S. market gain lends weight to such a view.
  

Consumer- and retail-related stocks drove up the KOSPI on hopes that the economy will get a boost since the worst days of the Middle East Respiratory Syndrome seem to have passed.
  

Confectionery maker Orion surged 5.69 percent to 1,077,000 won, and Hotel Shilla, the hotel chain arm of Samsung Group, rose 5.88 percent to 126,000 won.
  

Airlines, one of the industries hit hard by MERS, also gathered ground, with Korean Air Lines climbing 2.51 percent.
  

Autos declined, with top player Hyundai Motor sliding 0.73 percent to 135,500 won and its affiliate Kia Motors dropping 1.54 percent to 44,900 won.
  

The local currency ended at 1,125.00 won versus the greenback, down 7.5 won from Wednesday's close.
  

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 2.3 basis points to 1.828 percent and the return on the benchmark five-year government bonds gained 4.9 basis points to 2.134 percent. (Yonhap)