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Asian stocks mixed after Wall Street rises for 5th day

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KMIZ

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets are mixed after Wall Street rose for a fifth day on strong corporate earnings. Shanghai and Seoul fell while Tokyo and Hong Kong advanced. Wall Street’s benchmark S&P 500 index rose 0.7%, propelled by health care and tech stocks. Johnson & Johnson, the biggest maker of health products, reported strong quarterly profit and raised its earnings forecast for the year. Investors were watching for inflation updates from Britain and some other European governments. Higher inflation might force central banks to act sooner than planned on hiking interest rates and rolling back other economic stimulus.

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