• Stocks in Asia were set for a mixed open after tech heavyweights dragged down US indexes in the run-up to Federal Reserve Chair Jerome Powell’s testimony to Congress.
• Australian shares edged down, while futures for Japan pointed lower and those for Hong Kong indicated gains after a slump on Tuesday. US benchmark indexes lost traction after a rally that has spurred concern about sky-high valuations, with caution prevailing before Powell heads to Capitol Hill for his semiannual testimony before Congress. Bitcoin hit a record, before reversing, while gold also touched an all-time high.