Investing.com - Asia shares held slightly weaker on Thursday as investors awaited remarks by Fed Chair Janet Yellen later in the day in congressional testimony that my include comments on president-elect Donald Trump’s fiscal policies and the links to rate increases.
The Nikkei 225 fell 0.07%, the S&P/ASX 200 dipped 0.14% and the Shanghai Composite was down 0.31%.
The Fed's stance on potential policies, even if vague, is seen as crucial for markets as a Trump administration under a Republican-controlled U.S. Congress has the potential to make drastic changes in federal policies for the world's largest economy. Investors are currently pricing a 90.6% chance of a rate hike at the Fed's December 13-14 meeting, according to Investing.com's Fed Rate Monitor Tool.
Overnight, U.S. stocks were mixed after the close on Wednesday, as gains in the Telecoms, Technology and Consumer Services sectors led shares higher while losses in the Financials, Oil & Gas and Utilities sectors led shares lower.
At the close in NYSE, the Dow Jones Industrial Average declined 0.29%, while the S&P 500 index lost 0.16%, and the NASDAQ Composite index climbed 0.36%.