Yellen's comments help lift stocks

NEWS that the US Federal Reserve is in no rush to raise interest rates was welcomed by markets on Wednesday, with the Straits Times Index (STI) managing a modest 3.22-point rise to 3,440.83. The entire market recorded 240 gains versus 193 falls and volume was in line with recent averages at 1.38 billion units worth S$1.28 billion.

Western markets on Tuesday rose after Fed chief Janet Yellen said in her testimony to the US Senate Banking Committee that the central bank will consider interest rate policy from a meeting to meeting basi…