Asian stocks recover from Yellen comments
Today was a public holiday for the Japanese stock markets.
Asian stock markets rebounded across the board this morning (March 21st), erasing some of the losses sustained by the indexes yesterday.
They fell broadly after comments made by the new leader of the US Federal Reserve Janet Yellen, who suggested interest rates could be increased by the body next year.
Today's trading session saw Australia's S&P ASX/200 increase in value by 0.5 per cent to 5319.20 over the course of the session, while Korea's Kospi Index was up by 0.6 per cent to 1931.82. Hong Kong's Hang Seng Index was up by just 0.17 per cent in comparison and the index is nine per cent down for the year so far, reports investing.com.
The Shanghai Composite was broadly flat during today's session, while the CSI 300 index fell 0.3 per cent, while last night saw the Dow Jones Industrial Average increase by 0.67 per cent. Further gains were recorded by the S&P 500 index, which was up by 0.60 per cent, while the Nasdaq Composite index increased 0.27 per cent over the session.
Ms Yellen's comments hit Asian markets hard yesterday, with the Nikkei down by 1.65 per cent, while both Hong Kong's Hang Seng and the Shanghai Composite fell by more than one per cent.
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