The S&P/ASX 200 index jumped 0.8% to 8,300.6 points, the highest since February 27, by 0030 GMT. The benchmark is up for the fifth consecutive session of gains.
The U.S. said it would lower tariffs on Chinese imports from 145% to 30%, while China agreed to reduce tariffs on American imports from 125% to 10%.
In Sydney, energy stocks surged about 3.3% to their highest since April 3 and were poised for their sixth straight session of rise.
Miners climbed as much as 1% to their highest since March 31, as the U.S.-China tariff deal sent iron ore prices higher.
Financials added 0.4%, led by Westpac's 1.8% rise. However, ANZ Group fell as much as 2.5% to its lowest since April 24 on trading ex-dividend.
Software firm WiseTech Global soared nearly 7% to its highest since February 19.
New Zealand's benchmark S&P/NZX 50 index gained 0.8% to 12,778.71 points, touching its highest since February 21. It is on track for the third consecutive session of gains.
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