At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 45.00 points or 0.65 percent at 6,973.00, while the broader All Ordinaries index was up 45.10 points or 0.63 percent at 7,222.50.
U.S. sharemarkets fluctuated on Wednesday after the U.S. Federal Reserve refrained from signalling that it will make any changes to its bond-buying program any time soon.
The Dow Jones index closed up by 0.10 percent. The S&P 500 index gained 0.20 percent to a record closing high. But the Nasdaq index fell by 0.1 percent.
In the financial space, the big banks lifted with Commonwealth Bank up (0.72 percent), National Australia Bank up (1.10 percent), Westpac Bank up (1.21 percent) and ANZ up (0.91 percent).
Mining stocks were mostly rose with BHP up (0.88 percent), Rio Tinto up (2.04 percent), Fortescue Metals up (3.37 percent), but goldminer Newcrest down (0.04 percent).
The country's oil and gas producers varied with Oil Search up (0.49 percent), Santos down (0.14 percent) and Woodside Petroleum up (0.62 percent).
Australia's largest supermarkets varied with Coles up (0.44 percent), and Woolworths up (0.29 percent).
Meanwhile, telecommunications giant Telstra was unchanged (0.00 percent), the national carrier Qantas was down (0.37 percent) and biomedical firm CSL was down (0.01 percent).