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Singapore - Asian stocks were flat to slightly lower on Wednesday after bearish comments from US Federal Reserve Chairperson Ben Bernanke, adding to fears about the strength of the world economy.
The Nikkei average was down 0.05% and MSCI's index of Asia-Pacific stocks outside Japan was off 0.15%.
The dollar hovered around one-month lows against a basket of major currencies after Bernanke acknowledged a slowdown in the US economy, but offered no suggestion of further monetary stimulus to support growth. The dollar index then picked up to trade around 73.62.
The euro rose to a one-month high of $1.4670 , near the $1.4700 barrier.
Brent crude oil for July delivery was down 0.21% after talk that Saudi Arabia was likely to lead a core group of Opec members in boosting oil production targets.
Gold was flat around $1 542.59. Gold, one of the chief beneficiaries of worries about the security of currencies and other assets, set a record high of $1 575.79 per ounce in early May.
US stocks fell for a fifth day on Tuesday after Bernanke's comments. The Dow Jones industrial average fell 0.16%. The Standard & Poor's 500 Index closed down 1.23 points.
