Asian shares fall after Wall St gain as markets eye Ukraine

Asian stock markets are lower after Wall Street's biggest weekly gain in 16 months as investors watch efforts to negotiate an end to Russia’s war on Ukraine

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

Oil prices gained more than $3 per barrel.

Shanghai, Hong Kong, 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.