Dhaka, Aug. 23 -- Stock markets advanced Friday ahead of a pivotal speech by the US central bank chief, expected to shed light on possible interest rate cuts in the world's top economy.

Major European stock markets ticked up, following gains in Asia led by Chinese indices.

Recent days have seen cautious trading as investors await clarity from Federal Reserve chief Jerome Powell about the path on US interest rates, with recent data showing a cooling jobs market and a mixed picture for inflation.

Powell is set to deliver remarks during an annual gathering of central bankers in Jackson Hole, Wyoming, a key event for observers weighing the chances of a rate cut at a September meeting of policymakers.

"Investors will be keenly watching whe...