Australia’s share market has closed higher, although gains were trimmed as investors booked profits ahead of a keenly-awaited speech from US Federal Reserve Chairman Jerome Powell.

The S&P/ASX200 benchmark index closed up by 9.8 points, or 0.16 per cent, to 6126.2 on Thursday.

The All Ordinaries index finished higher by 16.1 points, or 0.26 per cent, to 6310.6.

Mr Powell, who will speak at the central bank’s annual Jackson Hole symposium, is expected to discuss inflation and economic stimulus.

The Australian dollar was buying 72.34 US cents at 1619 AEST, higher from 71.90 US cents at Wednesday’s close.