At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 53.40 points or 0.79 percent at 6,823.80, while the broader All Ordinaries index was up 53 points or 0.75 percent at 7,104.00.
"Market confidence soared as the 46th U.S. President was sworn into office overnight. The U.S. dollar and the Euro slid as safe haven demand switched to gold, and the Nasdaq 100 set yet another record high," CMC Markets chief market strategist Michael McCarthy said.
"The new high tide mark for the tech heavy Nasdaq indices was assisted by a 17 percent post result lift in Netflix."
Tech shares also led gains on the Aussie market, up over 2.5 percent with a strong lead by Afterpay which surged close to 5 percent adding to strong gains throughout the week.
The banks and miners were also firmly higher as were healthcare and consumer stocks, however energy shares fell despite a commodity price rally.
In the financial space, the big banks rallied with Commonwealth Bank up (0.76 percent), ANZ up (1.04 percent), National Australia Bank up (2.30 percent) and Westpac Bank up (1.53 percent).
Mining stocks varied with Rio Tinto up (0.19 percent), Fortescue Metals down (0.04 percent), BHP up (0.28 percent) and goldminer Newcrest up (2.56 percent).
The country's oil and gas producers were also mixed with Oil Search down (0.23 percent), Santos up (0.81 percent) and Woodside Petroleum down (0.08 percent).
Australia's largest supermarkets also bounced with Coles up (1 percent), and Woolworths up (2.10 percent).
Meanwhile telecommunications giant Telstra jumped (0.16 percent), the national carrier Qantas bounced (0.10 percent) and biomedical firm CSL sank (0.31 percent).
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