{"id":117616,"title":"What happened overnight – Friday 8th November 2024","publisher":"Share Talk","author":"sharetalk","published":"2024-11-08T07:20:25+00:00","modified":"2024-11-08T07:20:25+00:00","canonical_url":"https://www.share-talk.com/what-happened-overnight-friday-8th-november-2024/","markdown_url":"https://www.share-talk.com/what-happened-overnight-friday-8th-november-2024.md","json_url":"https://www.share-talk.com/what-happened-overnight-friday-8th-november-2024.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["AI-focused","Asian market","Asian markets","Bank of England","Bank of Japan","Bank of New York","bond market","china","chips","currency","Dow Jones","Federal Reserve","JP Morgan","Nvidia","Russia","semiconductor","Shenzhen Composite Index","South Korea","Treasury yields","U.S. bond market","U.S. stocks","U.S. Treasury","US recession","USA","Wall Street","White House"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/10/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"Asian markets opened strong but ended mixed on Friday following the Federal Reserve’s decision to cut interest rates, aiming to alleviate pressure on the U.S. economy.\n\nHong Kong’s Hang Seng index reversed its early gains, declining by 0.7% to close at 20,802.88. The Shanghai Composite also slipped by 0.3%, ending at 3,462.71, as investors awaited potential stimulus measures from China.\n\nStephen Innes of SPI Asset Management commented, “If Beijing introduces supportive measures, we could see a significant rally across the region, driven by renewed market momentum.”\n\nJapan’s Nikkei 225 index advanced by 0.3%, finishing at 39,498.21.\n\nShares of Nissan Motor took a hit, plunging sharply after the automaker announced plans to cut 9,000 jobs and reduce global production capacity by 20%, citing declining sales and increased costs and inventory issues.\n\nIn South Korea, the Kospi edged down 0.1% to 2,561.63, while Australia’s S&P/ASX 200 rose by 0.8%, closing at 8,295.10.\n\nOn Wall Street, the S&P 500 gained 0.7% to end at 5,973.10. The Dow Jones Industrial Average remained unchanged, while the Nasdaq Composite surged by 1.5% to 19,269.46. Both the S&P 500 and Nasdaq hit record highs for the second consecutive day.\n\nIn the bond market, the yield on 10-year U.S. Treasury notes fell to 4.342%, down from 4.428% on Wednesday."}