At closing bell, the benchmark S&P/ASX200 inclined 40.74 points, or 0.61%, to 6,728.47. The broader All Ordinaries added 43.22 points, or 0.62%, to 6,965.40.
Investors were in an upbeat mood as Britain on Tuesday became the first Western nation to begin a wide vaccination campaign, and Johnson & Johnson reported it could obtain late-stage trial results for a single-dose vaccine in January, earlier than expected.
Australia's Victoria state eased COVID-19 restrictions after the country's pandemic hot spot recorded 37 days without any new coronavirus infections, moving toward a "COVID-safe" holiday season. From midnight on Sunday, up to 100 people will be able to attend such public gatherings as weddings, with density rules of one person per 2 sq. meters staying in place, while 50% of office workers will be able to return to workplaces by Jan. 11, up from 25% now, the state's premier said.
Fortescue Metals Group Ltd hit an all-time peak after the miner said it saw strong iron ore consumption next year on solid Chinese steel demand as well as a post-COVID-19 recovery in other markets.
Healius (HLS) finished 7.4% higher after announcing a $200m on-market buy-back of its shares over the next 12 months.
Adairs (ADH) rose by 4.8%. The bedding retailer on Tuesday said that sales jumped by 17% over the past 23 weeks and expects a significant lift in earnings.
CURRENCY NEWS: The Aussie dollar rose to US$0.744, lifting for a sixth straight week and is sitting at a mid-2018 high. Market optimism, the distribution of vaccines, recovering economies and firmer commodity price have helped keep the local currency well supported.
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