Australian shares rose to a record high on Wednesday, supported by banks and miners, as an agreement between US

U.S. and Chinese officials said they had agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earths while offering little sign of a durable resolution to longstanding trade differences.

U.S. and Chinese negotiators agreed late Tuesday to try again to implement the trade war truce that had collapsed after it was reached during an earlier round of talks in Geneva.