TOKYO (AP) — Global shares traded mixed Wednesday following a drop on Wall Street, as Federal Reserve Chair Jerome Powell said stock prices were “fairly highly valued.”

France's CAC 40 slipped nearly 0.2% in early trading to 7,857.54, while the German DAX dipped nearly 0.3% to 23,589.16. Britain's FTSE 100 fell 0.2% to 9,209.94. U.S. shares were set to drift higher with Dow futures inching up less than 0.1% at 46,644.00. S&P 500 futures rose 0.2% to 6,725.50.

Japan's benchmark Nikkei 225 recouped morning losses to finish 0.3% higher at 45,630.31. Australia's S&P/ASX 200 slipped 0.9% to 8,764.50. South Korea's Kospi dropped 0.4% to 3,472.14. Hong Kong's Hang Seng rose 1.4% to 26,518.65, while the Shanghai Composite gained 0.8% to 3,853.64.

U.S. stocks took a pause from their relentless r

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