---
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"
date: 2024-05-10
canonical: "https://www.share-talk.com/what-happened-overnight-friday-10th-may-2024/"
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"]
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"
---

# What happened overnight – Friday 10th May 2024

**Published:** May 10, 2024
**Author:** sharetalk
**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)

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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.

The 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.

The 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.

However, 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.

Conversely, Hong Kong’s Hang Seng Index climbed 2%, reaching an eight-month peak in early trading.

In 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.

In bond markets, yields on 10-year Treasury bonds slightly decreased to 4.45% from 4.50% the previous day.

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