Asian stocks fall for 2nd day after new Wall St record

BEIJING (AP) — Asian stock markets have declined for a second day after gains for U.S. tech stocks pushed Wall Street to a new high and the World Bank raised its forecast for China’s economic growth. Market benchmarks in Shanghai, Tokyo and Hong Kong retreated. Overnight, Wall Street’s benchmark S&P 500 index added 0.2% as tech stocks rose, offsetting losses for other industries. Investors are looking ahead to this week’s U.S. employment data for signs of whether the labor market and wages are heating up. That might add to inflation pressures that traders worry could prompt the Federal Reserve and other central banks to roll back economic stimulus.