2.35pm Markets Update

Updated: Monday 29 August 2016 16.51

In the US, Wall Street has opened flat as investors ponder the timing of the next interest rate hike following comments from top Federal Reserve officials.

Shortly after 2.30pm the Dow Jones was 0.22% higher at 18,436, while the Nasdaq was flat at 5,218.

Meanwhile, European stock markets are trading lower as analysts ponder the implications of a key speech by US Federal Reserve chief Janet Yellen on interest rates.

The CAC in Paris has lost 0.7% to 4,410, and in Frankfurt the DAX has dropped 0.56% to 10,530.

In Dublin the ISEQ is 0.11% lower to stand at 6,163. CPL and hotel group Dalata are among the best performing shares, while Origin Enterprises and Paddy Power Betfair have both dropped in value.

Earlier in Asia, Hong Kong stocks turned lower after Ms Yellen indicated US borrowing costs could rise by the end of the year.

The Hang Seng Index fell 0.38%, or 88.20 points, to close at 22,821.

The benchmark Shanghai Composite Index was flat, edging down 0.28 points to 3,070.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.2%, or 4.06 points, to end at 2,027.

Meanwhile, Tokyo stocks snapped a two-day losing streak, rallying after the US Federal Reserve chief‘s speech, sending the yen lower and boosting exporters.

The benchmark Nikkei 225 index soared 2.3%, or 376.78 points, to close at 16,737.