Asian stocks advance after Wall St hits new record

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets have risen after Wall Street hit a new high and China promised aid to shore up economic growth. Shanghai, Tokyo, Hong and Sydney advanced ahead of a Federal Reserve policy meeting this week at which higher U.S. inflation might influence a decision on when to start rolling back stimulus that is boosting stock markets. Wall Street’s benchmark S&P 500 index closed up 3.8% for the week in a rally led by tech companies. Chinese leaders promised tax cuts and other aid to entrepreneurs at an annual planning meeting to shore up economic growth.