Asian stocks mixed after West vows more Russia sanctions

Asian stock markets are mixed after Western governments promised new sanctions on Russia

BEIJING -- Asian stock markets were mixed Friday after Western governments promised new sanctions on Russia and President Vladimir Putin tried to prop up Moscow's sinking ruble by threatening to require Europe to use it to pay for gas exports.

Shanghai and Hong Kong declined while Tokyo gained. Oil was little-changed but stayed above $110 per barrel.

Wall Street's benchmark S&P 500 index rose 1.4% after the number of Americans applying for unemployment fell to a 52-year low.

Western leaders meeting Thursday in Brussels promised more sanctions. President Joe Biden said they were meant to “increase the pain” on Putin. But the leaders released no details of possible new penalties.