At 1200 AEST, Commonwealth Bank was up 63 cents at $71.33, National Australia Bank had added 50 cents to $25.43, Westpac had gained 39 cents to $28.81, and ANZ had risen 44 cents to $22.69.

But shares in Australian companies exporting vitamins, long-life milk and other consumer goods have fallen sharply in early trading over fears of the impact of a changed tax policy in China.

KEY FACTS:

* At 1201 AEST, the benchmark S&P/ASX200 index was up 27.9 points, or 0.57 per cent, at 4,959.4 points.

* The broader All Ordinaries index was up 26.7 points, or 0.53 per cent, at 5,039.9 points.

* The June share price index futures contract was up 37 points at 4,939 points, with 14,720 contracts traded.

* National turnover was 903.6 million securities traded, worth $1.27 billion.

AAP