End-of-day summary:
Australian shares hit fresh heights as investors welcomed a preliminary China-US deal to reduce trade tensions.
The ASX 200 set a new intraday peak of 8639.1 in the first hour this morning. Those gains mostly dribbled away by the close, leaving the Australian stock benchmark just five points or 0.06% ahead for the day at 8592.
Zip Co, Fletcher Building and Liontown Resources were the index's best performers. Fortescue, James Hardie and Woodside were the pick of the heavyweights. Tech stocks, healthcare providers and gold miners dragged.
US stocks rallied overnight in anticipation of this morning's announcement that negotiators had agreed a framework to implement a previously-announced US-China trade deal. The S&P 500 put on 0.55%.
