Australian shares are expected to open higher Monday amid increased optimism following high-level talks on trade between the US and China.

Both camps are expected to release a joint statement containing the details of their two-day high-stakes trade negotiations in Geneva, Switzerland. US officials described the talks as a "substantial progress," while their Chinese counterparts said both sides had reached "important consensus" and that the outcome of discussions would be "good news for the world," Reuters reported on May 11.

In corporate news, Fleetpartners Group (ASX:FPR) reported Monday fiscal half-year earnings of AU$0.1487 per diluted share, compared with AU$0.1459 in the year-earlier period.

Aurizon Holdings (ASX:AZJ) priced an offering of AU$500 million of subordinated notes due 2055, according to a May 9 filing with the Australian bourse.

Australia's benchmark index rose 0.5%, or 39.50 points, to close at 8,231.20 on May 9.