Asian stocks mixed on possible December rate hike | Equity Market Tips

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Asian stocks traded mostly lower early Thursday, following a weaker finish on Wall Street as increasing odds of a U.S. interest-rate rise in December sapped risk appetite.

Federal Reserve chair Janet Yellen said Wednesday that December's monetary policy meeting would be a "live possibility" for a rate hike if upcoming economic data were supportive. Yellen was testifying before the House Financial Services Committee in Washington. 

As a result, major US averages declined. The blue-chip Dow Jones Industrial Average and S&P 500 closed down 0.3 and 0.4 percent respectively, while the Nasdaq Composite finished flat. A pullback in energy shares, alongside a 3.3 percent slump in crude oil prices overnight, also weighed on the bourses.