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Highlights
ASX rises slightly following a trade framework between the US and China
Gains led by miners and healthcare stocks, while tech remained subdued
Markets await final approval from leadership of both nations
The Australia equity market opened the session with modest strength, reflecting cautious optimism across sectors including materials and healthcare. The broader S&P/ASX 200 and All Ordinaries indexes ticked higher after US and Chinese officials disclosed a preliminary trade "framework" aimed at restoring trade flows. The agreement is pending final clearance from US President Donald Trump and Chinese President Xi Jinping.
Miners support early market movement
Leading mining stocks contributed to the day’s upward movement. BHP Group Ltd (ASX:BHP) and Rio Tinto Ltd (ASX:RIO) advanced on sentiment linked to a prospective easing of trade restrictions. The framework agreement between the two major economies focuses on resuming the supply of critical materials, benefiting resource-heavy sectors.
Fortescue Ltd (ASX:FMG) also edged higher amid a broadly stable outlook in the commodity space. While volumes remained light, participants noted a generally constructive tone across iron ore and base metal counters.
Healthcare shares move higher
The healthcare segment added to the gains, buoyed by renewed attention on export-oriented medical product suppliers. CSL Ltd (ASX:CSL) and Cochlear Ltd (ASX:COH) saw incremental interest. The diplomatic movement raised hopes of smoother regulatory flows and restored demand from international, especially in China-focused distribution networks.
Fisher & Paykel Healthcare Corporation Ltd (ASX:FPH) also moved in line with peers, driven by wider sentiment on global demand normalisation following ongoing geopolitical signals.
Technology sector trades flat
Technology stocks showed limited movement in response to the trade news. WiseTech Global Ltd (ASX:WTC) remained largely unchanged, while Xero Ltd (ASX:XRO) saw muted activity throughout the session. The sector displayed restrained interest from participants amid cautious evaluations of how deeply the agreement might influence cross-border digital services or intellectual property discussions.
Block Inc. (ASX:SQ2), which often reacts to US policy signals, stayed flat as traders awaited clarity on details within the trade document relevant to fintech operations.
Energy and financials see mixed trends
Energy counters like Woodside Energy Group Ltd (ASX:WDS) and Santos Ltd (ASX:STO) traded in a narrow range. Market participants tracked both international crude developments and ongoing commentary from trade authorities, but response remained largely indifferent across energy tickers.
Financial majors such as Commonwealth Bank of Australia (ASX:CBA), Westpac Banking Corporation (ASX:WBC), National Australia Bank Ltd (ASX:NAB), and Australia and New Zealand Banking Group Ltd (ASX:ANZ) moved without major conviction. Banking shares held steady as the broader trade discussion centered around goods and manufacturing rather than financial regulations.
Consumer and industrials sectors show selective movement
Consumer discretionary and industrials saw selective activity. Wesfarmers Ltd (ASX:WES) was marginally higher in early trade, while Woolworths Group Ltd (ASX:WOW) showed limited action. Industrial conglomerates including Transurban Group (ASX:TCL) remained broadly aligned with overall index movement, showing minor gains during early trade.
Broader sentiment cautious despite progress
Although the framework announcement offered a temporary lift, the overall tone remained subdued as markets awaited definitive sign-off from both sides. The absence of detailed implementation timelines and product lists prompted a balanced market response. Activity across the Australia equity market reflected a watchful stance ahead of further trade and geopolitical updates.
