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The Australian share market has opened a third of a per cent higher.

At 1012 AEDT on Tuesday, the benchmark S&P/ASX200 index was up 17.1 points, or 0.31 per cent, at 5,457.3, while the broader All Ordinaries index was up 18.1 points, or 0.33 per cent, at 5,468.2.

On the ASX 24, the March share price index futures contract was up 16 points at 5,439, with 7,861 contracts traded.