The local share market finished higher after the US and the European Union agreed on a preliminary trade deal over the weekend, greatly easing fears of a global trade war.
The benchmark S&P/ASX200 index on Monday closed up 30.8 points, or 0.36 per cent, to 8,697.7, while the broader All Ordinaries rose 29.2 points, or 0.33 per cent, to 8,963.5.
The Australian dollar had dropped to a one-week low against its American counterpart, buying 65.52 US cents, from 65.81 US cents at 5pm on Friday.