Asian stocks mixed after Wall St falls on inflation fears

Asian stock markets are mixed after signs of enduring upward pressure on American prices added to expectations of higher interest rates for longer. Shanghai and Seoul advanced while Tokyo and Hong Kong declined. Oil prices edged higher. Wall Street declined after a survey showed prices paid by United States manufacturers rose in February for the first time in five months, despite rate increases to cool economic activity and surging inflation. That prompted traders to raise expectations of how high the Federal Reserve might hike rates and push back when cuts might start. Germany's February inflation held steady at the previous month's level despite rate hikes by the European Central Bank.