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Asia Pacific markets rose Tuesday after investor sentiment was supported by a slew of positive news on the coronavirus vaccine front and likely also from a pivotal European deal on a pandemic recovery fund.

South Korea’s Kospi index rose 1.39% to 2,228.83, while in Australia, the benchmark ASX 200 added 2.58% to close at 6,156.30, with the heavily weighted financials subindex up 2.9%.

Hong Kong’s Hang Seng index advanced 1.83% in afternoon trade while the Straits Times index in Singapore gained 0.53% and the Jakarta Composite rose 1.41%.

Pfizer and BioNTech reported early positive data on a joint coronavirus vaccine candidate.

The coronavirus pandemic, which was first reported in China late last year, has infected more than 14.6 million people and killed over 608,000.

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