Stocks on the rise with positive Fed outlook

Emerging market stocks have risen for the third day as Federal Reserve Chair Janet Yellen signaled US interest rates will stay low for longer.

The MSCI Emerging Markets Index rose 0.4 per cent, gaining a total of 3.1 per cent over the last three days.

Stocks have risen in four of the last five days as the Fed kept an interest rate increase on hold last week as well.

In her testimony before Congress, Yellen said the Federal Reserve is watching for "whether" the economy will show clear signs of improvement and "when" it would.

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Read more at Bloomberg.