The Australian share market has opened nearly half a per cent higher.

At 1010 AEDT on Monday, the benchmark S&P/ASX200 index was up 23.6 points, or 0.44 per cent, at 5,347.7, while the broader All Ordinaries index was up 22.6 points, or 0.42 per cent, at 5,346.4.

On the ASX 24, the March share price index futures contract was up 10 points at 5,324, with 4,058 contracts traded.