At 10:30 (AEST), the benchmark S&P/ASX 200 index gained 29.10 points, or 0.44 percent, to 6,630.20, while the broader All Ordinaries index was up 33.80 points, or 0.50 percent, at 6,850.60.
"Vaccine optimism and ongoing support from central banks and governments are driving growth exposed assets higher, and data and events due this week could back an optimistic outlook for 2021," CMC Markets chief market strategist Michael McCarthy said.
"The global highlights for traders include the release of China PMIs ahead of Friday's U.S. non-farm payrolls. Australian investors will hear from the Reserve Bank of Australia on Tuesday, ahead of Wednesday's release of third quarter GDP."
On the local bourse, tech stocks were outperforming, up 2 percent.
In the financial space, the big banks improved with Commonwealth Bank up (0.11 percent), National Australia Bank up (0.56 percent), Westpac Bank up (0.15 percent) and ANZ unchanged.
Mining stocks were mostly higher with BHP up (0.13 percent), Rio Tinto up (0.55 percent), and Fortescue Metals up (1.19 percent), however, gold miner Newcrest was down (0.48 percent).
The country's oil and gas producers rose with Oil Search up (0.96 percent), Santos up (0.56 percent) and Woodside Petroleum up (0.29 percent).
Australia's largest supermarkets jumped with Coles up (0.92 percent), and Woolworths up (0.51 percent).
Meanwhile telecommunications giant Telstra dipped (0.16 percent), the national carrier Qantas surged (0.91 percent) and biomedical firm CSL rallied (0.75 percent).
Latest comments