BEIJING — Asian stock markets were mixed Thursday after Wall Street steadied following a plunge on worries about more U.S. interest rate hikes.

The Shanghai Composite Index CN:SHCOMP lost 0.3% after China’s government reported inflation decelerated in February to 1% over a year earlier from the previous month’s 2.5%. The Hang Seng HK:HSI in Hong Kong gained 0.2%.

The…