The benchmark S&P/ASX200 index has opened higher for the shortened final day of trading of 2018, up 37.7 points, or 0.67%, to 5,692.0 at 1030 AEDT on Monday.
The broader All Ordinaries was up 36.6 points, or 0.64% to 5,752.6.
Resources, tech, consumer discretionaries and telco stocks the best early performers with Syrah Resources Ltd (ASX: SYR) shares up 5.19% to $1.52 and WiseTech Global Ltd (ASX: WTC) shares sitting 3.22% higher at $17.01.
Resources heavyweights helped set the pace, with Rio Tinto Limited (ASX: RIO) up 0.63% to $78.57 and BHP Group Ltd (ASX: BHP) 1.03% higher to $34.30, while Fortescue Metals Group Limited (ASX: FMG) gained 0.48%.
Gold miner Newcrest Mining Limited (ASX: NCM) rose 2.8% to $21.66 on a near six-month peak for the precious metal.
BlueScope Steel Limited (ASX: BSL) and South32 Ltd (ASX: S32) shares were down 0.97 and 0.59%.
Galaxy Resources Limited (ASX: GXY) shares were trading 2.24% lower after the company issued a cautious statement on vetting potential partners for its flagship Argentinian lithium project.
Australia's big four banks were all in the black, led by Australia and New Zealand Banking Group (ASX: ANZ), up 1.11% $24.61.
The financial sector also got support from Medibank Private Ltd (ASX: MPL), up 1.75% to $2.615.
Telco stocks surged ahead in the final session before 2019.
Telstra Corporation Ltd (ASX: TLS) gained 0.71% to $2.85, TPG Telecom Ltd (ASX: TPM) lifted 2.33% to $6.59, and Seven West Media Ltd (ASX: SWM) was up 2.78% to 55.5 cents.
Domain Holdings Australia Ltd (ASX: DHG) shares rose 3.64% to $2.28 and Event Hospitality and Entertainment Ltd (ASX: EVT) was up 3.63% to $13.72.
Santos Ltd (ASX: STO) and Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) led the gains for the energy sector, up 1.19% and 1.48% respectively, with oil prices slightly higher after a rise in US equity markets.
However, fear over a global supply glut has kept crude contained.
Wesfarmers Ltd (ASX: WES) shares rose 1.26% to $32.94 but infant formula maker Bubs Australia Ltd (ASX: BUB) shares dropped 3.13% to 46.5 cents.
Overseas, the S&P 500 ended marginally lower in a choppy session on Friday, but the major US indexes posted weekly gains for the first time in December.
The ASX had slid 8.31% since September – the worst quarter since September 2011 – with the benchmark also enduring its worst year in seven, down 6.15% amid wider global volatility.
The Aussie is steady, unchanged from 70.48 US cents on Friday.
The ASX will close early at 1410 on Monday and will not open on New Year's Day.
with AAP
