Wall Street has advanced, notching weekly gains as investors parsed a spate of earnings and looked for signs of easing tensions in the US-China trade dispute.
Australian shares have recovered to their highest levels since US Liberation Day tariffs sparked a sell-off that wiped trillions of dollars from global markets.
US stocks rebounded overnight as a spate of quarterly earnings reports and hints at the de-escalation of US-China trade tensions brought buyers in from the sidelines.
Stocks rose overnight after US president Donald Trump relaxed some of his tariffs, for now at least, and as stress from within the US bond market seems to be easing.
US President Donald Trump has doubled down on his latest message that the exclusion of smartphones and computers from his reciprocal tariffs on China will be short-lived, pledging a national security trade investigation into the semiconductor sector.
The local bourse has resumed losing ground after US tariffs on China were revealed to be higher than previously thought, stoking fears of a global recession.
