Australian shares have started the week on a positive note after days of turbulence over US tariffs. -AAP Image
Australian shares have started the week with a rally after the US softened limited tariffs on China and the world's largest central bank reassured markets.
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The S&P/ASX200 gained 99.9 points, or 1.31 per cent, to 7746.4, as the broader All Ordinaries lifted 104.5 points, or 1.33 per cent, to 7958.2.
The positive start to the week came after the US announced a temporary exemption for electronics imported from China, which the US Federal Reserve said would stabilise markets if conditions deteriorated or there liquidity issues became a threat.
Ten of 11 local sectors closed in the green, led by a 2.7 per cent rally in IT stocks, as materials lifted two per cent and financials posted a 1.1 per cent gain.Â
The Australian dollar has reclaimed ground from the greenback to buy 63.01 US cents, up from 62.02 US cents on Friday at 5pm.
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