The Aussie market is in positive territory heading into the afternoon session, with the XJO up 0.6%.
Most sectors are in positive territory with energy, IT and utilities stocks leading the way.
In economic news, confidence among Australian businesses nosedived in August amid tumbling equity markets.
The NAB index of business confidence sank 10 points last month, to -8 from 2 in July - the lowest level since April 2009.
Around the region, Asian markets are mixed; the Shanghai Composite is down 1.5% whilst the Nikkei is up 0.3%.