ASX 200 zig-zags on Friday after US President Donald Trump lauds 'very good' phone call with Chinese President Xi Jinping
The ASX 200 has zig-zagged on Friday after US President Donald Trump said he held constructive talks with Xi Jinping on trade.
Building materials company James Hardie rose 3.2 per cent in the first 40 minutes of trading as the embattled IDP Education added 2.4 per cent and insurance broker AUB Group jumped 2.1 per cent.
The index sits up less than 0.1 per cent with the materials sector adding 0.6 per cent and utilities industry rising 0.4 per cent.
The move follows a slump on Wall Street as investors look towards a monthly jobs report that will be critical for whether the US Federal Reserve will cut rates.
It also comes after Trump posted on his social media platform Truth Social that he and Chinese President Xi Jinping had a 'very good phone call'.
'The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries,' Trump said.
'There should no longer be any questions respecting the complexity of Rare Earth products.
'Our respective teams will be meeting shortly at a location to be determined.'
The Dow Jones fell 0.3 per cent on Thursday while the S&P 500 sank 0.5 per cent and the Nasdaq shed 0.8 per cent.
The tech-heavy index's slump was in part driven by Tesla's 14 per cent after the feud between CEO Elon Musk and Trump exploded into public view.
London's FTSE 250 Index dropped 0.2 per cent as Germany's DAX and the STOXX Europe 600 Index added 0.2 per cent on Thursday.
New Zealand's NZX 50 Index is up about 0.2 per cent since trading began on Friday and Japan's Nikkei 225 has risen 0.4 per cent.
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Sky News AU
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Trade talks between Australia and US 'ultimately a matter for President Trump' says Trade Minister Don Farrell ahead of G7 Summit
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