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Stocks in Asia Pacific rose on Thursday, following positive news overnight about the development of a potential coronavirus vaccine.

The Hang Seng index in Hong Kong led gains among the region’s major markets, rising 2.85% to close at 25,124.19 following a Wednesday holiday.

Shares of Chinese internet giant Tencent soared 3.99% while Hong Kong Exchanges and Clearing skyrocketed 6.06%.

Tensions in the city were closely watched after China’s controversial national security law went into effect and Hong Kong police announced their first arrests under the measure.

In the U.S., more than 12 states have paused or rolled back their reopenings following a recent spike in cases.

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