22nd August 2014
Stock markets across Asia broadly advanced today (August 22nd), taking their cue from a positive close on Wall Street.
The Dow Jones Industrial Average added 0.4 per cent to move above 17,000 points for the first time since July 29th, while the S&P 500 closed at a record-high level for the 28th time this year.
Despite these gains, trading volumes were light when markets opened across Asia, with investors largely expressing caution ahead of a speech from Federal Reserve chair Janet Yellen later today.
Addressing economists in Wyoming, Ms Yellen is set to discuss the US labour market and traders will be looking for further clues as to when the bank intends to begin lifting its interest rates.
In Hong Kong, the Hang Seng advanced by 0.47 per cent, while the Shanghai Composite gained 0.46 per cent.
As the dollar-yen pairing stalled in forex trading markets, the Nikkei 225 index retreated by 0.3 per cent to 15,539.19 points in Tokyo, bringing an end to a nine-day run of gains - the longest streak since December.
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