FX.co ★ Australia Stocks Rise for 4th Session

The ASX 200 climbed by 23 points, equivalent to a 0.3% increase, reaching 8,276 during trading on Monday morning. This marked the index's fourth consecutive session of gains. The rise was attributed to positive developments following discussions between U.S. Treasury Secretary Bessent and Trade Representative Greer with China, which were seen as constructive steps towards narrowing the $400 billion trade deficit. Investor sentiment was further buoyed by easing geopolitical tensions; a tentative ceasefire remains in place between India and Pakistan, and Ukrainian President Zelenskiy has expressed willingness to meet with Russian President Putin in Turkey later this week. Leading the market were energy stocks, which climbed nearly 2% to hit a one-month high as oil prices continued to increase. Woodside Energy rose by 1.5%, while Santos saw a 2.2% uptick. Other significant gainers included BHP, up 1.6%, Westpac, which rose by 1.0%, and Commonwealth Bank, which increased by 0.8%. However, the market faced some restraint due to caution ahead of the release of Australia's April labor market data later this week. Meanwhile, in China, a major trading partner, consumer prices dropped for the third consecutive month in April, indicating ongoing weak demand, rising trade challenges, and job insecurity.