The Australian sharemarket closed at a fresh record high on Tuesday, as easing tensions boosted sentiment amid ongoing trade talks between the United States and China in London.
The benchmark S&P/ASX 200 Index gained 71.5 points or 0.8% to 8,587.2, surpassing its previous record close of 8,555.8 set on 14 February.
Gains were broad-based, with 10 of the 11 industry sectors ending in positive territory.
Consumer Discretionary led the gains, with Wesfarmers adding 1.4%, Aristocrat Leisure lifting 3.6%, and Tabcorp surging 5.7%.
The Information Technology sector also traded higher, supported by gains in Wisetech Global, up 2.4%, and Xero, which added 1.8%.
Energy companies pushed higher as Brent crude rose. Woodside Energy added 0.7% and Santos advanced 1.2%.
Financials also supported the rally, with Commonwealth Bank lifting 1.2%, National Australia Bank adding 1.5% and Westpac up 1%.
However, gold miners were among the few laggards as easing trade tensions weighed on bullion prices, pushing spot gold down to around US$3,320 per ounce.
Evolution Mining fell 3.8% and Newmont lost 3.5%.
In corporate news, Johns Lyng Group entered a trading halt pending an expected takeover offer from private equity group Pacific Equity Partners.
Austal surged 7.3% after South Korea’s Hanwha Group received clearance from U.S. foreign investment authorities to acquire the entire company.
Meanwhile, Monash IVF tumbled 26.9% after the company reported a second embryo incident this year.
On the bond markets, yields declined. The 10-year Australian government bond yield fell 1.2% to 4.266%, while the 2-year yield dropped 1.3% to 3.333%.
