The ASX recovered from an early morning dip, lifted by strong movements in tech and banking stocks to rise 0.22pc.

Shenghe Resources’ subsidiary, Ganzhou Chenguang Rare Earths New Material Co, has agreed to acquire PEK under a binding scheme implementation deed with the junior explorer.

A trade war truce between the US and China shows common sense is back, but the relief for investors and super fund members may be temporary.