Asian stocks mixed after Wall St sinks on rate fears

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets are mixed after Wall Street sank under pressure from worries about higher interest rates and Japan reported stronger wage gains than expected. Shanghai, Hong Kong and Seoul rose. Tokyo edged lower after the government reported wages rose in December at close to their fastest pace in three decades. Sydney fell after Australia’s central bank raised its key lending rate and said more increases are planned. Oil prices climbed. Wall Street sank for a second day after unexpectedly strong U.S. jobs data dampened hopes the Federal Reserve might decide it has can ease off plans for more rate hikes. Traders looked ahead to a speech by Fed Chair Jerome Powell.