Australian shares closed the session higher on Tuesday, with signs of progress of the US-China trade talks.

The S&P/ASX 200 Index closed 56.1 points, or 0.83 per cent, higher at 6787.5.

Westpac ended the day up 1.72 per cent at $24.86 after the company announced chief executive Brian Hartzer would resign and other members of the board would follow.

And while the remainder of the big four banks also closed higher, Bank of Queensland shed 5.79 per cent to close at $8.14 after announcing a discounted capital raise.

Caltex Australia lead the gains, closing at $33.79, or 13.43 per cent higher, after the company confirmed it had recieved a second takeover bid.

Healthcare was the best performing sector, closing close to 2 per cent higher, with CSL adding 2.31 per cent to finish the day at $279.73.