At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 30.80 points or 0.45 percent at 6,871.30, while the broader All Ordinaries index was up 36.70 points or 0.52 percent at 7,149.60.
Nine out of 11 sectors were trending higher, led by information technology and materials which rose 1.53 percent and 1.34 percent respectively.
Meanwhile, utilities were putting the biggest pressure on the market, plunging at 1.63 percent, followed by real estate with a drop at 0.48 percent.
"Mixed economic readings in Europe and the United States on Friday night left investors pondering. While stocks traded mixed to positive, the global bond sell off resumed in earnest," CMC Markets chief market strategist Michael McCarthy said.
"Volumes may lift as investors reposition themselves ahead of holidays across the region that begin later this week."
In the financial space, Australia's big banks rose with the Commonwealth Bank up (0.28 percent), ANZ up (0.24 percent), National Australia Bank up (0.79 percent) and Westpac Bank up (1.40 percent).
Mining stocks improved with Rio Tinto up (1.13 percent), BHP up (1.46 percent), Fortescue Metals up (1.25 percent), gold miner Newcrest up (1.67 percent).
The country's oil and gas producers lifted with Oil Search up (0.24 percent), Santos up (1.45 percent) and Woodside Petroleum up (0.39 percent).
Australia's largest supermarkets dropped with Coles down (0.93 percent), and Woolworths down (0.34 percent).
Meanwhile, telecommunications giant Telstra was up (0.48 percent), the national carrier Qantas jumped (1.06 percent) and biomedical firm CSL edged higher (0.07 percent).
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