Aust stocks open weaker

Local market begins lower as Wall Street awaits testimony from Janet Yellen.

The Australian stock market opened lower following a mixed performance on Wall Street with investors mostly tentative ahead of Federal Reserve Chair Janet Yellen's testimony in Congress.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index lost 0.4% to 5,415.3, while the broader All Ordinaries index fell 0.38% to 5,426.2.

In local economic news on Thursday, the Australian Bureau of Statistics releases private new capital expenditure and expected expenditure data for the December quarter.

In Australia, the market on Wednesday closed flat with resources stocks weighing down the bourse due to investor concerns about the Chinese economy and weaker commodities prices.

The benchmark S&P/ASX200 index gained 3.2 points, or 0.06%, to 5,437.

The broader All Ordinaries index added 3.0 points, or also 0.06%, to 5,447.