The Australian sharemarket is trading around five-and-a-half year highs after shares in the US hit all-time levels overnight.
At 10am, the benchmark S&P/ASX200 index was 37.1 points, or 0.7 per cent, higher at 5320.2 points while the broader All Ordinaries index was up 36.8 points, or 0.7 per cent, at 5318.
The re-opening of the US government and short-term suspension of its debt ceiling has buoyed Australian equities.
Meanwhile, a fall in the US dollar has boosted commodities such as gold.
CommSec analyst Tom Piotrowski said the local market had followed in the US' footsteps.
"With the political impasse being resolved for the time being, it has freed investors up," Mr Piotrowski said.
The focus on Friday afternoon would be the release of Chinese data, at 10am, including the important gross domestic product (GDP) growth.
This is likely to boost markets if the figure is high.
All sectors on the ASX were higher, with gold stocks a standout following solid price rises in the physical metal.
At 9.15am, Gold miner Newcrest was 57 cents, or six per cent, higher at $10.71.
Among other miners, BHP Billiton was three cents better at $35.83, and Fortescue Metals Group had lifted six cents to $5.30, but Rio Tinto was down 37 cents to $63.34.Woodside Petroleum was five cents stronger at $38.05, but energy group Santos had dropped 15 cents to $14.74 after warning full year production will be at the low end of guidance.