Asian stocks rise as Ukraine peace talks appear to progress

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets have followed Wall Street higher as talks on ending Russia’s war on Ukraine appeared to make progress. Shanghai, Hong Kong and Sydney advanced, while 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 war. Japanese stocks fell after the government reported February retail spending declined more than expected. Markets also have been on edge about higher U.S. interest rates.