The Australian share market has opened two-thirds of a per cent higher.

At 1011 AEDT on Tuesday, the benchmark S&P/ASX200 index was up 34.5 points, or 0.69 per cent, at 5,049.9, while the broader All Ordinaries index was up 34.8 points, or also 0.69 per cent, at 5,062.5.

On the ASX 24, the March share price index futures contract was up 46 points at 5,065, with 43,954 contracts traded.