Stock market today: Asia mixed after Wall St drifts lower following run-up

Asian stock markets are mixed after Wall Street drifted lower following its latest rally. Shanghai and Hong Kong advanced. Tokyo and Seoul declined. Oil prices rose. Wall Street’s benchmark S&P 500 index lost 0.4% as tech stocks declined following a rapid run-up while most other stocks advanced. The index is off this year’s high of two weeks ago, but still up more than 20% since mid-October. Stock prices surged this year on hopes that a recession expected after interest rate hikes might come later and be shorter and shallower than previously forecast.