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Global stocks are mixed before U.S. Fed release

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Global stock markets were mixed Wednesday as investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more U.S. interest rate cuts.

Market benchmarks in London and Frankfurt rose in early trading. Tokyo and Australia closed lower and Shanghai was little changed.

Markets have "entered a holding pattern" ahead of Powell's speech at an annual gathering in Jackson Hole, Wyoming, Jeffrey Halley of Oanda said in a report. Tokyo's Nikkei 225 shed 0.3% to 20,618.57. Hong Kong's Hang Seng inched up 0.2% to 26,270.04. The Shanghai Composite Index was little changed at 2,880.33.

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