Asian stocks rise as markets await Yellen House appearance

|By:, SA News Editor

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%.