ASX surges at open on US-China trade hopes

The Australian share market has opened sharply higher as investors keep an eye on US-Chinese trade talks.

The benchmark S&P/ASX200 index was up 65.3 points, or 1.0 per cent, to 6,612.4 points at 1030 AEDT on Friday, while the broader All Ordinaries was up 65.7 points, or 0.99 per cent, to 6,728.6 points.

Tech shares had the largest gains in the first half hour of trading, adding 1.64 per cent, followed closely behind by the mining and energy sectors.

Appen jumped 3.53 per cent, WiseTech Global rose 2.54 per cent and Xero gained 2.07 per cent.

Mining giant BHP was up 2.48 per cent to $35.94, Rio Tinto was up 2.50 per cent to $90.12 and Fortescue Metals was up 3.66 per cent to $8.77.

Santos, Woodside Petroleum, Oil Search and Beach Energy were each up between 0.94 per cent and 1.91 per cent.

The big four banks were higher, with ANZ up 0.96 per cent to $27.44, Commonwealth up 0.70 per cent to $78.65, NAB up 0.64 per cent to $28.20 and Westpac up 0.88 per cent to $28.78.

Bendigo and Adelaide Bank was up 1.17 per cent, Bank of Queensland was up 0.26 per cent and Macquarie Group was up 0.77 per cent.

Healthcare shares were also ahead by more than 1.0 per cent as CSL gained 1.79 per cent and Cochlear added 1.40 per cent.

Every sector was in positive territory except for property trusts, which fell 0.12 per cent.

Charter Hall Group slid 1.03 per cent, Stockland lost 0.22 per cent and Mirvac was 0.17 per cent lower.

US President Donald Trump said he plans to meet Chinese Vice Premier Liu He on Friday, boosting optimism that the two countries could agree to a deal to ease trade tensions.

On Wall Street overnight, the Dow Jones Industrial Average was up 0.57 per cent, the S&P 500 was up 0.64 per cent and the tech-heavy Nasdaq Composite was up 0.60 per cent.

The Aussie dollar is buying 67.61 US cents, up from 67.46 US cents on Thursday.

AAP

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