Seeking Alpha

Asian stocks rise as markets await Yellen House appearance

  • Asian shares trade higher ahead of the first of two appearances before Congress this week by new Fed chief Janet Yellen.
  • At a hearing in the House today, Yellen is likely to face questions about the employment market and the Fed's tapering of its bond-buying program. She is expected emphasize that interest rates will remain near zero for an extended period.
  • "The market is more ready to be relieved than to cheer on Yellen's comments," says Seoul-based analyst Chung Seung-jae.
  • Japan closed, Hong Kong +1.8%, China +0.8%, India +0.3%.
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