Asian markets mixed after Wall St gain

Asian stock markets are mixed after Wall Street turned in its biggest weekly gain in 16 months as investors watched efforts to negotiate an end to Russia’s war on Ukraine

BEIJING -- Asian stock markets were mixed Monday after Wall Street turned in its biggest weekly gain in 16 months as investors watched efforts to negotiate an end to Russia’s war on Ukraine.

Regional heavyweights Shanghai and Hong Kong gained. Seoul and Sydney retreated. Japanese markets were closed for a holiday.

Wall Street’s S&P 500 index rose 1.2% on Friday after markets appeared to welcome the Federal Reserve’s attempt to fight surging inflation by raising its key interest rate.

Investors watched efforts to mediate a settlement to Russia’s attack, which has pushed up oil prices and added to uncertainty about the global economic outlook.