Actionscript 3 :: Mouse - Local X And Y Coordinates Of Display Object?

i'm trying to trace the x and y coordinates from within a sprite. i've added a rectangle to the stage:

var rect:Rectangle = new Rectangle(10, 10, 200, 200);
addChild(rect);
rect.x = rect.y = 100;

adding a Mouse_Move event to the rect, i can trace mouseX and mouseY to receive the coordinates of the stage while moving over the rect, but how do i get the local x and y coordinates? so if i mouse over the very top left of the rect sprite, the mouseX and mouseY return 10 as the global coordinates, but how do i make it return 0 and the local coordinates of the sprite?

i assumed localX and localY was what i was looking for, but this doesn't work:

function mouseOverTraceCoords(evt:MouseEvent):void
{
trace(mouseX, mouseY, evt.localX, evt.localY);
}