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View the article online at http://citywire.co.uk/wealth-manager/article/a762082

Overnight Markets: S&P 500 and Nasdaq dip on Yellen's comments

by Himanshu Singh on Jul 16, 2014 at 03:26

In Asia, shares oscillated between gains and losses on Wednesday after the Fed said some sectors of the US equity market have excessive valuations and banks reported better-than-estimated earnings.

The MSCI Asia Pacific Index was little changed at 147 as of 9:41 a.m. in Hong Kong. Japan’s Topix index added 0.3%, while South Korea’s Kospi index and New Zealand’s NZX 50 Index were little changed.

Australia’s S&P/ASX 200 Index retreated 0.1%. Singapore’s Straits Times Index added 0.2% and Taiwan’s Taiex Index lost 0.2%.

Hong Kong’s Hang Seng Index gained 0.1% and the Shanghai Composite Index slipped 0.1%.

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