Asian markets in red ahead of Fed Chair Yellen’s testifies, gold and silver down

Asian indices were trading on a lower note on Wednesday. The big event for the day is Fed Chair Yellen’s testifies. Markets scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy. Gold and silver were marginally lower. Gold was trading around $1,324 mark and silver was trading around $19.05 marks.

Japan’s Nikkei was trading around 1.56 percent lower at 16,426.24 points.

South Korea’s Kospi was trading around 0.38 percent lower at 2,055.11 points.

Shanghai composite index to open up 0.1 pct at 3,000.70 points and China's CSI300 index to open up 0.1 pct at 3,243.65 points.

Hong Kong's Hang Seng was trading 0.84 percent lower at 23,373.24 points.

Australia's S&P/ASX 200 was trading 0.08 percent lower at 5,401.10 points.