Asian stocks mixed after Wall St falls amid rate hike unease

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets are mixed after Wall Street fell as investors watched for signs of whether global central banks will try to cool inflation by speeding up plans to withdraw economic stimulus. Shanghai and Hong Kong declined. Tokyo, Seoul and Sydney advanced. Wall Street’s benchmark S&P 500 index sank on losses for tech and communications companies. Investors are watching central banks in the United States, Europe and other economies for indications of how quickly historically low interest rates and other stimulus that is boosting stock prices might be withdrawn to cool surging inflation. The European Central Bank president, Christine Lagarde, said at a European Parliament hearing that any change in rates “will be very gradual.”