Asia markets set to rise after Wall Street declines as U.S. Fed chair suggests stocks are overvalued

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People crossing the thoroughfare successful Shibuya, Tokyo.

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Asia-Pacific markets were acceptable to unfastened higher, breaking ranks with Wall Street aft U.S. Federal Reserve Chair Jerome Powell said that "equity prices are reasonably highly valued."

Powell besides signaled that the rate-cutting way wasn't wide and that the cardinal slope faces a "challenging situation."

Australia's ASX/S&P 200 was poised to unfastened higher, with its futures declaration trading astatine 8,852, against the index's past adjacent of 8,845.9.

Hong Kong's Hang Seng Index was acceptable to unfastened higher, with its futures declaration past traded astatine 26,188 against the index's erstwhile adjacent of 26,159.12.

Japan's benchmark Nikkei 225 is acceptable to unfastened little aft coming backmost from a holiday, with the futures declaration successful Chicago astatine 45,415 portion its counterpart successful Osaka past traded astatine 45,330, against the index's past adjacent of 45,493.66.

Australia is acceptable to merchandise its ostentation information for August aboriginal successful the day.

Overnight stateside, the 3 large averages ended the trading time lower. The S&P 500 took a intermission from its caller gains arsenic doubts astir the sustainability of the artificial quality bull inclination disquieted investors.

The wide marketplace scale closed down 0.55% astatine 6,656.92 aft reaching a caller all-time intraday precocious earlier successful the league and posting a grounds adjacent connected Monday. The Nasdaq Composite fell astir 1% to settee astatine 22,573.47, with the losses led by AI names like NvidiaOracle and Amazon. The Dow Jones Industrial Average finished 88.76 points, oregon 0.19%, little astatine 46,292.78.

— CNBC's Sean Conlon and Pia Singh contributed to this report.

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