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Seoul: Shares post highest close since early March on vaccine hopes

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South Korean shares rose more than 2 per cent on Tuesday to their highest close since early March after encouraging early-stage trial data from a potential coronavirus vaccine lifted hopes of a quicker economic recovery from the pandemic fallout. 

[SEOUL] South Korean shares rose more than 2 per cent on Tuesday to their highest close since early March after encouraging early-stage trial data from a potential coronavirus vaccine lifted hopes of a quicker economic recovery from the pandemic fallout. 

The Seoul stock market's main KOSPI closed up 43.50 points, or 2.25 per cent, at 1,980.61, posting its highest close since March 6 and biggest daily gain in a month.

Wall Street's S&P 500 index closed at a 10-week high on Monday as US drugmaker Moderna surged after the company said its experimental Covid-19 vaccine showed promising results in a small early-stage trial.

REUTERS

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