Asian stocks rise as Ukraine peace talks appear to progress

Asian stock markets have followed Wall Street higher as talks on ending Russia’s war on Ukraine appeared to make progress

BEIJING -- Asian stock markets followed Wall Street higher on Wednesday as talks on ending Russia's war on Ukraine appeared to make progress.

Shanghai, Hong Kong and Sydney advanced. Tokyo declined. Oil prices advanced less than $1 per barrel.

That followed Russia's announcement it would scale back military operations near Ukraine's capital, Kyiv, and another northern city. It came as negotiators meeting in Turkey began to lay out a possible deal to end the five-week-old war.

“This was a nice add-on catalyst" to a market rally already under way, Clifford Bennett of ACY Securities said in a report.