Australian shares are poised to climb on Tuesday as positive momentum in US-China trade talks boosted investor confidence, with both sides describing the London discussions as productive.

US and Chinese officials will resume trade talks in London on Tuesday, aiming to ease tensions over technology and rare earth element shipments.

Overnight, the S&P 500 and the Nasdaq Composite rose 0.1% and 0.3%, respectively, while the Dow Jones Industrial Average fell slightly by 1.1 points.

In macroeconomy, investors are eyeing the release of the Westpac Consumer Confidence and NAB Business Confidence reports.

In corporate news, Rio Tinto Group (ASX:RIO) is seeking billions in government support to keep its 51.6%-owned Tomago aluminum smelter in New South Wales from closing amid soaring electricity costs, according to a June 6 report by the Australian Financial Review, citing unnamed sources.

Platinum Investment Management (ASX:PTM) reported total funds under management of AU$8.34 billion as of May 31, down from AU$9.65 billion as of April 30, according to a June 6 filing with the Australian bourse.

Australia's benchmark index fell 0.3% or 23.2 points, to close at 8,515.70 on Friday.