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Asian stocks fall after Fed discusses cut in US stimulus

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BEIJING (AP) — Asian stock markets fell Thursday after the Federal Reserve talked about possibly reducing U.S. economic stimulus and Japanese officials prepared to declare a coronavirus state of emergency during the Olympics due to a surge in infections.

Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated. Sydney gained.

Also Thursday, South Korea reported a one-day record increase of 1,275 new coronavirus infections, adding to the region’s anxiety about disease risks.

Overnight, Wall Street closed at a new high, propelled by gains for technology, industrial and health care stocks.

Minutes of the Federal Reserve’s latest meeting in June gave an upbeat outlook for a U.S. economy recovery and showed board members discussed how and when they might reduce monthly bond purchases that inject money into the financial system.

“With the initial heavy lifting from economic reopening mostly factored in, the pace of reduction in unemployment…

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