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| Asian markets in mixed reaction to Yellen comments | Asian markets in mixed reaction to Yellen comments |
| (about 1 hour later) | |
| Markets in Asia were mixed in early trade on Wednesday despite a positive lead from Wall Street after US Federal Reserve chair Janet Yellen said the Fed should "proceed cautiously" before raising interest rates. | Markets in Asia were mixed in early trade on Wednesday despite a positive lead from Wall Street after US Federal Reserve chair Janet Yellen said the Fed should "proceed cautiously" before raising interest rates. |
| Japan was in negative territory following disappointing official industrial output numbers. | Japan was in negative territory following disappointing official industrial output numbers. |
| The figures showed output falling 6.2% in February from a month earlier. | The figures showed output falling 6.2% in February from a month earlier. |
| The data marks the biggest drop since the 2011 tsunami. | The data marks the biggest drop since the 2011 tsunami. |
| The Nikkei 225 was down 0.25% to 17,013.3 points in early trade. | |
| Also hurting investor sentiment in Japan was a stronger yen against the dollar, which fell after Ms Yellen's comments. | Also hurting investor sentiment in Japan was a stronger yen against the dollar, which fell after Ms Yellen's comments. |
| Michael Gapen, chief US economist at Barclays, said her comments "tilt expectations for policy rate hikes in a decidedly dovish direction". | Michael Gapen, chief US economist at Barclays, said her comments "tilt expectations for policy rate hikes in a decidedly dovish direction". |
| Elsewhere, stocks in Australia were higher after touching a near one-month low on Tuesday. Sydney's S&P/ASX 200 was up 0.3% to 5,019.4 points in mid-morning trade. | |
| The Shanghai Composite was up 1.55% to 2,965.27 and Hong Kong's Hang Seng was up 1.5% to 20,666.60. | |
| South Korea's Kospi index was also in positive territory, up 0.53% to 2,005.84 points. |