Australian Market Rises on the Back of Muted US Session

A general view of market boards at the ASX Exchange Centre on September 30, 2015 in Sydney, Australia. Ryan Pierse/Getty Images

The local share market is on track to notch up a five-week high on the back of a quiet session in the U.S. as investors await the release of inflation data.

At noon AEST on Wednesday, the benchmark S&P/ASX200 index was up 42.5 points, or 0.6 percent, to 7,352.4. The broader All Ordinaries was up 41.4 points, or 0.6 percent, to 7,546.6.