The S&P/ASX200 rose 17.1 points, or 0.22 per cent, to 7776 as the broader All Ordinaries lifted 17.1 points, or 0.21 per cent, to 7979.4.
"Trading in the Asia Pacific region today will likely show signs of the imminent Easter break," Moomoo market analyst Michael McCarthy said.
"Traders expect lower volumes, and futures markets suggest the local reaction may be less severe than the 2.25 per cent fall in the S&P500."
The tech-heavy Nasdaq fell 3.1 per cent overnight after the US placed restrictions on Nvidia's chip sales to China, wiping nearly seven per cent from the tech giant's market cap.
Making matters worse for US markets, US Fed chair Jerome Powell poured water on hopes on a rate cut or market intervention in the face of tariff-related market instability.
"For the time being, we are well positioned to wait for greater clarity before considering any adjustments to our policy stance," Powell told the Economic Club of Chicago.
Asian markets were also looking better than Wall Street, the Nikkei up 0.73, as Hong Kong's Hang Seng index rose 0.92 per cent and South Korea's KOSPI lifting 0.44 per cent.
Local sectors were mixed in early trading, with energy stocks up 2.5 per cent and clawing back some of Wednesday's 2.7 per cent slump, after oil prices rallied overnight.
Brent crude futures rose almost 2 US cents, or three per cent to $US62.73, after the US imposed new sanction on Chinese importers of Iranian oil, and OPEC+ promised production cuts.
Financial stocks were mixed but down slightly, as NAB and Westpac lost 0.4 per cent, ANZ traded flat and CBA bucked the trend to rise 0.3 per cent.
Bank of Queensland has continued to rally after posting a 13 per cent lift to first half earnings yesterday, rallying 8.5 per cent since.
Materials were up 1.1 per cent, rebounding after falling 0.8 per cent on Wednesday.Â
Rio Tinto was up 1.7 per cent after shedding 2.7 per cent yesterday after cyclones impacted Wednesday's production results.
BHP's quarterly production released today pointed to a slight slump but the mining giant is on-track for record year-to-date iron ore and copper production, but the impact of US tariffs on China's growth has yet to hit the books.
"Despite the limited direct impact of tariffs on BHP, the implication of slower economic growth and a fragmented trading environment could be more significant," BHP, chief executive Mike Henry said.
"China's ability to shift toward a consumption-led economy and for trade flows to adapt to the new environment will be key to sustaining the global outlook."
Consumer discretionary was the weakest sector, down 0.4 per cent as Bunnings and Kmart owner Wesfarmers fell 0.6 per cent.
Australian jobs data show unemployment came in at 4.1 per cent, seasonally adjusted in March, slightly lower than consensus expectations.
The Australian dollar is buying 63.57 US cents, trading roughly flat on Wednesday's 63.54 US cents, with little movement after the unemployment data print.
