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

Japan's benchmark Nikkei 225 recouped morning losses and rose 0.3% in afternoon trading to 45,612.77. Australia's S&P/ASX 200 slipped 0.9% to 8,764.50. South Korea's Kospi dropped 0.6% to 3,466.50. Hong Kong's Hang Seng rose 1.1% to 26,448.64, while the Shanghai Composite gained 0.8% to 3,851.28.

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