Asian stocks recover from Yellen comments

<p>Today was a public holiday for the Japanese stock markets.</p>

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.

Learn about the Asian markets and CFD trading at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.