The Australian sharemarket opened above 8600 points on Wednesday after encouraging news from London where US and Chinese officials are seeking a trade truce.
The S&P/ASX 200 Index rose 45.7 points, or 0.53 per cent, to 8632.9 by 10.10am AEST as eight out of 11 sectors climbed.
Wall Street climbed overnight, pushing the S&P 500 up 0.6 per cent, as Commerce Secretary Howard Lutnick said negotiations with China went well on their second day, and they could extend into a third day.
And after the close of US trade, China said it had agreed in principle with the US to a so-called framework for implementing the consensus that the two countries reached in Geneva. China’s trade representative Li Chenggang said he hoped that the progress in talks would be conducive to “building trust”.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.