At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 79.30 points or 1.20 percent at 6,713.40, while the broader All Ordinaries index was up 80.40 points or 1.17 percent at 6,945.70.
A high price for iron ore was again driving Aussie share market gains, with mining giants Fortescue, Rio Tinto and BHP all firmly higher in early trade.
Contributing to gains was also the tech sector which surged alongside materials. New Zealand-based software company Xero was up 3.3 percent in early trade.
Local media reported that co-founder of Xero, Rod Drury sold another 240 million Australian dollars (178 million U.S. dollars) worth of his shares in the company for an unstated purpose, although he reportedly continues to hold an 8.1 percent stake worth well over a billion dollars.
In the financial space, the big banks rallied with Commonwealth Bank up (0.56 percent), Westpac Bank up (0.89 percent), ANZ up (0.69 percent) and National Australia Bank up (1.21 percent).
Mining stocks soared with Rio Tinto up (2.52 percent), BHP up (2.75 percent), Fortescue Metals up (3.54 percent) and goldminer Newcrest up (0.94 percent).
The country's oil and gas producers surged with Oil Search up (2.13 percent), Santos up (3.30 percent) and Woodside Petroleum up (1.52 percent).
Australia's largest supermarkets bounced with Coles up (1.28 percent), and Woolworths up (1.01 percent).
Meanwhile telecommunications giant Telstra rallied (0.98 percent), the national carrier Qantas surged (2.47 percent) and biomedical firm CSL lifted (0.92 percent).
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