---
title: "What happened overnight – Friday 12th july 2024"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-07-12T07:07:28+00:00"
modified: "2024-07-12T07:07:28+00:00"
date: 2024-07-12
canonical: "https://www.share-talk.com/what-happened-overnight-friday-12th-july-2024/"
category: "B2B"
categories: ["B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["Asian", "Australia", "china", "Dow Jones Industrial Average", "Hang Seng", "Hong kong", "Japan", "Korean", "markets", "NASDAQ", "Nasdaq Composite index", "S&P 500", "South Korea", "Stock Markets", "Taiwan", "Tokyo", "US stocks", "US Treasury bonds", "Wall Street", "Yen"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/06/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# What happened overnight – Friday 12th july 2024

**Published:** July 12, 2024
**Author:** sharetalk
**Categories:** B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** Asian, Australia, china, Dow Jones Industrial Average, Hang Seng, Hong kong, Japan, Korean, markets, NASDAQ, Nasdaq Composite index, S&P 500, South Korea, Stock Markets, Taiwan, Tokyo, US stocks, US Treasury bonds, Wall Street, Yen
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/06/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1)

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The yen experienced significant volatility, swinging between losses and gains as investors reacted nervously to potential intervention by Tokyo following a cooler-than-expected US inflation report.

On Friday, the yen’s movements against the dollar and other major currencies drew significant attention. Meanwhile, Asian stocks were on track for a weekly gain due to increasing expectations of a September rate cut from the Federal Reserve.

The dollar was last up 0.1% at 159.10 yen, after reaching an intraday high of 159.45 yen and dropping to a low of 157.75 yen earlier in the day. Similarly, other yen crosses showed choppy movements but stabilized as the trading day progressed. The euro was last up 0.2% against the yen, and sterling also rose 0.2%, both reversing early losses.

Speculation abounded that Japanese authorities had likely intervened in the currency market on Thursday to support the yen, which had surged nearly 3% against the dollar at one point after the release of US inflation figures. The dollar ended Thursday’s session with a 1.7% loss against the yen, marking its largest daily decline since May.

Asian stocks displayed mixed performance. Tokyo’s Nikkei 225 index fell 2% to 41,388.92. Hong Kong’s Hang Seng index climbed 1.9% to 18,165.33, while the Shanghai Composite index dropped 0.2% to 32,965.52, despite China’s exports increasing by 8.6% in June, exceeding market expectations. Australia’s S&P/ASX 200 rose 0.8% to 7,952.20, and South Korea’s Kospi slipped 1.2% to 2,857.11.

On Wall Street, investors shifted focus from Big Tech shares to smaller companies. The Dow Jones Industrial Average edged up 0.1% to 39,753.75. However, the S&P 500 fell 0.9% to 5,584.54, and the Nasdaq Composite dropped 2% to 18,283.41. The Russell 2000 index of small-cap US companies surged 3.6%, driven by expectations of interest rate cuts that could boost small-cap profits.

The yield on benchmark 10-year US Treasury bonds decreased to 4.21% from 4.28% late on Wednesday.

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