Asian stock markets are mostly lower on Wednesday following the negative cues overnight from Wall Street after comments from Federal Reserve Chairman Jerome Powell tempered rate cut hopes. In a closely watched speech, Powell acknowledged that crosscurrents have re-emerged since the Fed's May meeting, but did not appear to signal the imminent interest rate cut currently being priced in by the markets.
The Australian market is declining, with stocks mostly lower across the board, following the negative cues from Wall Street.
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