Asian indices opened mixed on Monday after an uninspiring handover from Wall Street, as Ukraine-Russia tensions reignited and a speech by Federal Reserve Chair Janet Yellen failed to give investors any clues on when the Fed will hike rates. U.S. equities ended mostly lower on Friday, as investors weighed speeches by European Central Bank President (ECB) Mario Draghi and Fed Chair Janet Yellen. Both central bankers gave the market what was expected: Yellen reiterated that slack remains in the U.S. labor market even as the American economy continues a five-year recovery and Draghi expressed confidence that stimulus already announced and a weaker euro would help the euro-zone economy, but noted the ECB is ready to do more if needed. The Dow Jones Industrial Average shed 0.2 percent on Friday while the Nasdaq added 0.2 percent. The S&P 500 lost 0.2 percent, leaving it with a 1.7 percent weekly gain and about 4 points from its record close and within 7 points of its intraday record, both set Thursday. Japans Nikkei index opened higher, buoyed by a weak yen that traded at near six-month high of 104.1 against the greenback on Monday. South Koreas key Kospi index plummeted at the open, hurt by steep losses in its blue-chip stocks. CNBC N225 15571.77 (+32.58) KS200 264.11 (-0.15) (Prices on Reuters at 0143GMT)
Posted on: Mon, 25 Aug 2014 00:43:55 +0000
Trending Topics
Recently Viewed Topics
© 2015