{"id":114274,"title":"What happened overnight – Friday 10th May 2024","publisher":"Share Talk","author":"sharetalk","published":"2024-05-10T06:29:33+00:00","modified":"2024-05-10T06:29:33+00:00","canonical_url":"https://www.share-talk.com/what-happened-overnight-friday-10th-may-2024/","markdown_url":"https://www.share-talk.com/what-happened-overnight-friday-10th-may-2024.md","json_url":"https://www.share-talk.com/what-happened-overnight-friday-10th-may-2024.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Asian","Dow Jones Industrial Average","Hang Seng","Hong kong","Nasdaq Composite index","S&P 500","South Korea","Stock Markets","Taiwan","Tokyo","US stocks","US Treasury bonds","Wall Street"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/04/WORLD-750x406-1-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"Asian stock markets advanced, setting the stage for a third consecutive week of gains, buoyed by the Bank of England’s actions which reinforced market confidence.\n\nThe British pound remained stable at $1.2515 after reaching a low of $1.2446 over two weeks ago, influenced by the Bank of England’s indications of potential rate cuts starting as early as next month.\n\nThe MSCI broad index of Asia-Pacific shares outside Japan increased by 0.7%, aiming for a weekly rise of nearly 1%—marking its third successive week of improvements. The Nikkei in Japan also saw a 0.4% rise.\n\nHowever, stocks in China faced declines, with the blue-chip index falling by 0.3% amid geopolitical tensions triggered by a new trade restriction list from the Biden administration and the possibility of new tariffs on China.\n\nConversely, Hong Kong’s Hang Seng Index climbed 2%, reaching an eight-month peak in early trading.\n\nIn the U.S., the Dow Jones Industrial Average increased by 0.9% to close at 39,387.76 on Thursday, while the S&P 500 rose by 0.5% to 5,214.08 and the Nasdaq Composite grew by 0.3%, ending the day at 16,346.26.\n\nIn bond markets, yields on 10-year Treasury bonds slightly decreased to 4.45% from 4.50% the previous day."}