Asian stocks mixed after Wall Street declines on growth worries

Shanghai and Hong Kong advanced, while Tokyo and Seoul declined. Oil prices fell more than US$2 per barrel to near $100.

"The market now accepts recession is a risk, having been in total denial," Michael Every of Rabobank said in a report. Central banks in the United Sates and Europe are trying to stop inflation that is running at four-decade highs. The S&P 500 declined to 3,759.89. Stocks in the index were evenly split between gainers and decliners.

Last week, the Fed raised its benchmark rate by three quarters of a percentage point, three times its usual margin and the biggest increase in nearly three decades.

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