Asian stock markets are mixed after Wall Street sank on worries about the health of U.S. banks that are under pressure from interest rate hikes. Shanghai declined while Hong Kong and Sydney advanced. Markets in Japan and South Korea were closed for holidays. Oil prices advanced. Wall Street’s benchmark S&P 500 index lost 0.7% as investors worried about the health of banks following three high-profile failures in the United States and one in Switzerland. Shares of PacWest Bancorp, a target of investor scrutiny, tumbled 50.6%. The bank said it was considering options and has been approached by potential partners and investors. The U.S. government was due to release an update on employment.
