The XJO is currently 55 points (+1.4%) to the good, trading around 4205.
Every sector is in positive territory with energy and materials amongst the strongest performers on the day.
Amongst individual stocks, Paladin Energy is up 11% after reporting a 47% increase in output for the final three months of 2011, whilst Goodman Fielder is the strongest of the top 200, up 14% on no news.
In economic news, Chinese GDP came in at 8.9% in the fourth quarter, slightly better than the 8.7% predicted by economists.
Around the region, Asian markets are all trading higher; the Hang Seng is 1.6% stronger whilst the Nikkei is up 0.9%.