Aust stocks open little changed

Local market flat in early trade following mixed close on Wall Street, Yellen testimony.

The Australian stock market opened little changed following a mixed close on Wall Street after new Federal Reserve chief Janet Yellen's promise that monetary policy would continue and strong Chinese trade data.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index edged 0.07% higher to 5,314, while the broader All Ordinaries index increased 0.09% to 5,324.8.

Chinese government data showed exports in January jumped more than expected, increasing 10.6% to $US207.13 billion ($A229.81 billion), while imports were up 10.0% at $US175.27 billion.

Dr Yellen told Congress she expects to continue predecessor Ben Bernanke's plan to wind down the Fed's bond-buying gradually and keep interest rates low until the jobs market improves significantly.

In local economic news on Thursday, the Australian Bureau of Statistics releases labour force data for January.

Reserve Bank Assistant Governor (Financial Markets) Guy Debelle will be a panel discussant at the CIFR Financial Market Developments Symposium.

In equities news, Rio Tinto will unveil full-year results, while Paladin Energy, Tassal and Goodman Group is slated to release first half results.

In Australia, the market on Wednesday finished higher for the fifth consecutive trading session as the resources sector led the gains.

The benchmark S&P/ASX200 index was 55.6 points, or 1.06%, higher at 5,310.1.

The broader All Ordinaries index was up 52.5 points, or 1.00%, at 5,319.8.