Asian stocks follow Wall St up after Fed inflation comments

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets have followed Wall Street higher after Federal Reserve policymakers indicated they are leaning toward more decisive action on inflation but set no firm targets. Shanghai, Hong Kong and Sydney advanced. Wall Street’s benchmark S&P 500 index rose while the Dow Jones Industrial Average declined Wednesday after notes from the latest Fed meeting showed officials suggested a faster pace of interest rate hikes “would likely be warranted.” Tokyo declined after Japan reported exports in January rose at a slower rate than forecast. Oil prices, which have been volatile due to anxiety over a potential Russian invasion of Ukraine, fell by nearly $2 per barrel.