Investing.com - Asian shares were mixed on Tuesday with central bank minutes in Australia highlighting regional demand concerns as well as housing price gains at home.
The Nikkei 225 rose 0.14%, while the Shanghai Composite dipped 0.27% at the open and the S&P/ASX fell 0.41%.
In Australia, investors shrugged off minutes from the central bank that showed concern over demand, but did take note of remarks on rising house prices .
The Reserve Bank of Australia minutes fort he October board meeting released on Tuesday showed a mix of economic concerns about demand abroad and at home as the key guide for the outlook on rates, while also noting that risks in house prices are growing.
Investors await Yellen on Tuesday at a U.S. Department of Labor ceremony for further indications on whether the U.S. central bank could raise short-term interest rates at some point before the end of the year. A host of Federal Reserve officials are scheduled to speak this week before the Federal Open Market Committee begins its two-day October meeting on Oct. 28.
The FOMC is widely expected to hold its benchmark Federal Funds Rate at its current near-zero level for the 56th consecutive meeting. Yellen has indicated that the FOMC will take a "data-driven approach," to its decision as it weighs whether to raise the Federal Funds Rate for the first time in nearly a decade. The Labor Department, meanwhile, will release two additional U.S. national employment reports before the FOMC's December meeting, providing the Fed with enough data on the state of the U.S. labor market to guide their decision.
Overnight, U.S. stocks were higher after the close on Monday, as gains in the Consumer Services, Consumer Goods and Healthcare sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 0.08% to hit a new 1-month high, while the S&P 500 index gained 0.03%, and the NASDAQ Composite index gained 0.38%.