Asia stocks rebound after Wall St falls, US bans Russian oil

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stocks have rebounded after Wall Street declined and China reported inflation edged higher. Already high oil prices rose further, adding more than $2 per barrel following President Joe Biden’s ban on imports of Russian crude. Stock benchmarks in Shanghai, Tokyo and Sydney rose while Hong Kong declined. South Korean markets were closed for a presidential election. Wall Street’s benchmark S&P 500 index fell 0.7% amid enduring unease over the potential global impact of Russian President Vladimir Putin’s attack on Ukraine. China’s government reported consumer prices rose 0.6% in February from the previous month, while producer prices rose 0.5%.