Stock market today: Asian shares advance following Wall Street rally led by technology stocks

BANGKOK (AP) — Asian shares advanced Tuesday after Wall Street rallied to claw back almost all the losses from its slow start to the year.

U.S. futures and oil prices declined.

Tokyo's Nikkei 225 index gained 1.2%, to 33,763.18, after the market reopened from a holiday on Monday.

Hong Kong's Hang Seng added 0.3% to 16,267.72, regaining some ground lost in recent declines. The Shanghai Composite index rose 0.4% to 2,896.11.

South Korea's Kospi shed 0.3% to 2,561.24, while the S&P/ASX 200 in Australia jumped 0.9% to 7,520.50.

On Monday, Wall Street saw broad gains as easing Treasury yields relaxed pressure on the stock market. The rally was led by Big Tech stocks, the main driver of Wall Street’s big advance last year, when excitement around artificial-intelligence technology made just a handful responsible for most of the S&P 500’s returns. But they stumbled last week as markets broadly regressed.

The S&P 500 jumped 1.4% to 4,763.54. It is back within 0.7% of its record and has regained momentum after logging its first losing week in the last 10.

The Nasdaq composite shot 2.2% higher, to 14,843.77, while the Dow Jones Industrial Average lagged the market with a gain of 0.6%, to 37,683.01.

Boeing dragged on the Dow in its first trading after one of its jets suffered an inflight blowout over Oregon. It fell 8%. Spirit AeroSystems, which builds fuselages and other parts for Boeing, lost 11.1%.

Stocks of oil-and-gas companies were also heavy weights after Saudi Arabia gave indications of potentially weak demand for crude, cutting prices of its oil for February delivery. Exxon Mobil fell 1.7%, and Marathon Oil lost 2.7% as a barrel of U.S. crude tumbled $3.04 to $70.77.

“Weak demand fundamentals influenced this decision in the global physical oil market. While...