A lift in most Asian markets has helped improve the confidence of Australian investors and lift the local bourse to a modest gain.

A market-wide sell-off driven by escalating US worries has pushed the Australian share market lower on Friday.

The Australian dollar has surged past 80 US cents for the first time since mid-2015, while higher commodity prices boosted the share market.

The Australian share market has closed higher, with momentum provided by strong gains among the energy and materials companies.

The Australian share market has lifted as investors search for value after recent losses.

Local shares have finished weaker following an almost market-wide sell-off, with heavy falls from energy companies and banks.