ASX has muted reaction to trade talks

The futures market suggests the ASX will open higher on the first day of the new financial year. (AAP)

The Australian share market has closed up 29 points, disappointing traders who were looking for a strong rally after the US and China resumed trade talks.

The Australian share market has closed higher but failed to make strong gains after the US and China agreed to resume trade talks over the weekend.

The benchmark S&P/ASX200 index was up 29.3 points, or 0.44 per cent, to 6,648.1 points at 1615 AEST on Monday, while the broader All Ordinaries was up 32.3 points, or 0.48 cent, to 6,731.4.

The Aussie dollar is buying 69.95 US cents, from 70.14 US cents on Friday.

Source AAP

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