Aust stocks slump at open

The Australian stock market opened more than one per cent weaker following falls on international markets after the Federal Reserve said it would further taper its stimulus measures.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index lost 1.27% to 5,162.8 points, while the broader All Ordinaries index declined 1.23%, at 5,176.4 points.

The US Federal Open Market Committee concluded its monthly meeting with the announcement it would cut its monthly bond purchases by $US10 billion a month, to $US65 billion.

The news led US stocks to close more than 1%lower, with the Dow Jones Industrial Average slumping 189.77 points, or 1.19%, to 15,738.79.

In economic news on Thursday, the Australian Bureau of Statistics releases international trade prices indexes for the December quarter.

In equities news, Fortescue Metals is expected to post its quarterly production report while Orica and Australian Pharmaceutical Industries have their annual general meetings.

In Australia, the market on Wednesday closed higher despite global equities trading being weighed down by concerns of a slowdown in emerging markets.

The benchmark S&P/ASX200 index was up 53.9 points, or 1.04%, at 5,229.0 points.

The broader All Ordinaries index was up 52.6 points, or 1.01%, at 5,240.6 points.