Asian stocks rise as Ukraine peace talks appear to progress

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Asian stock markets followed Wall Street higher on Wednesday 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 US$1 per barrel.

The Shanghai Composite Index rose 1.3% to 3,245.22, rebounding from the previous day's loss after Shanghai, China's most populous city, closed most businesses to fight coronavirus outbreaks. At the meeting in Turkey, Ukraine’s delegation laid out a framework under which the country would declare itself neutral and its security would be guaranteed by an array of other nations.

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