The Australian share market hit a record high on the back of US-China trade negotiations. -AAP Image
The Australian share market pared early gains after hitting a fresh record peak, as investors de-risked ahead of key US inflation data due overnight.
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The S&P/ASX200 on Wednesday closed 9.8 points, or 0.11 per cent, higher at 8,597, as the broader All Ordinaries gained 13 points, or 0.15 per cent, to 8,825.7.
An in-principle deal to ease trade barriers between the US and China helped the local bourse to a new intraday peak of 8,639, before investors took profits ahead of a key inflation print which is expected to show the early impacts of tariffs on US consumer prices.
Real estate, materials and energy stocks led the gains as eight of 11 sectors closed higher.
The Australian dollar is buying 65.14 US cents, up from 64.97 US cents on Tuesday at 5pm.
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