The XJO is approximately 60 points (+1.4%) higher, trading around 4260.
Nearly every sector is in positive territory, with energy, healthcare and materials plays the better performers.
In economic news, home loans approved in October rose 0.7% but total housing finance fell 2.5%, seasonally adjusted.
Elsewhere, the trade surplus narrowed in October to $1.595 billion, against $2.249 billion in September. Economists had been expecting a $2 billion surplus this month.
Around the region, Asian markets are mainly stronger; the Hang Seng and Nikkei are up 1.5% each.