Australian shares are higher as renewed US-China trade optimism lifts global equities, with the local energy and financial sectors particularly buoyant in early trade.
The benchmark S&P/ASX200 index was up 22.4 points, or 0.38 per cent, to 5,902.0 at 1200 AEDT on Monday, while the broader All Ordinaries was 25.0 points, or 0.42 per cent, higher at 5,966.2.
But the Aussie dollar has dropped, buying 71.63 US cents from 71.92 US cents on Friday.
Local energy stocks spiked at the open after fresh trade hopes and further detail on OPEC cuts saw oil prices climb three per cent higher.
Shares in gas giant Santos rose 1.82 per cent to $6.17 at lunchtime, while Origin Energy was up 0.83 per cent to $7.26, and Beach Energy climbed 0.44 per cent to $1.7225.
Caltex was another solid performer, up 3.2 per cent to $27.12, with Woodside Petroleum up 0.68 per cent to $34.12 and Oil Search rising 0.39 per cent to $7.75.
Worley Parsons cooled slightly but was still 1.84 per cent higher at $13.84, while Soul Pattinson eased to be ahead 0.08 per cent at $26.19.
The big lenders were mostly in the black, ANZ the best of the big four with a 0.61 per cent rise to $26.23.
Commonwealth Bank fell 0.03 per cent to $73.21, but Macquarie Group rose 0.39 per cent to $118.66, while insurers QBE, IAG and Suncorp were each up by between 0.78 and 1.18 per cent.
Consumer discretionaries stocks climbed, particularly the gambling and entertainment companies.
Aristocrat Leisure was up 3.61 per cent to $24.41, Tabcorp shares rose 1.62 per cent to $4.705, the Star Entertainment Group was up 2.23 per cent to $4.355 and Crown Resorts rose 1.30 per cent to $12.035.
Wesfarmers jumped 1.02 per cent to $32.81, while in consumer staples Coles supermarket rose 1.87 per cent to $12.55.
Treasury Wines was also 0.36 per cent higher at $15.595 after announcing chief operating officer Robert Foye had left the company for breaching internal policies.
For the miners, BHP was up 0.48 per cent to $33.27, Fortescue Metals rose 2.16 per cent to $4.73, but Rio Tinto retreated to sit 0.07 per cent lower at $80.59, and South32 dropped 0.59 per cent to $3.39.
The major gold miners were subdued on a sliding precious metal price, with Northern Star down 2.32, Evolution falling 1.28 per cent, and Newcrest dropping 1.5 per cent.
Meanwhile, Afterpay Touch stocks have cooled, but are still ahead 1.24 per cent to $16.30.
Wisetech Global is up 1.55 per cent to $19.66 but Computershare has dipped 1.32 per cent to $17.97.
The major US indexes advanced for a fourth consecutive week on Friday, as increased hopes that the United States and China would resolve their trade dispute lifted shares across sectors.
China is expected to report on Monday that economic growth cooled to its slowest in 28 years in 2018 amid weakening domestic demand and bruising US tariffs, adding pressure on Beijing to roll out more support measures to avert a sharper slowdown.