Asian Markets at Close Report and U.S. Stock Market Future Indications by MarketWatch on May 7, 2015: Asia stocks fall after Yellen warning on valuation.
Asia stocks fall after Yellen warning on valuation By CHAO DENG Stocks across Asia fell Thursday on concerns about the sluggish U.S. economy and overvalued equity markets, with Shanghai dropping the most and extending a deep two-day correction. The Shanghai Composite Index SHCOMP, -2.77% fell 2.7% at 4,112.86 after losing 5.6% in the past two sessions. In Japan, reopening after its golden week holiday, the Nikkei Stock Average NIK, -1.23% fell 1.2% to 19,291.99, while Australia’s S&P ASX 200 XJO, -0.82% and the Hang Seng Index in Hong Kong HSI, -1.27% were down 0.8% and 1.3%, at 5,645.70 and 27,289.97, respectively. Overnight, U.S. Federal Reserve Chairwoman Janet Yellen warned about high stock valuations during a panel discussion with the head of the International Monetary Fund, Christine Lagarde. Earlier Wednesday, data showed a slowdown in U.S. job creation , which could encourage Fed officials to delay raising interest rates beyond their June mee