{"id":115506,"title":"What happened overnight – Thursday 18th July 2024","publisher":"Share Talk","author":"sharetalk","published":"2024-07-18T07:26:55+00:00","modified":"2024-07-18T07:26:55+00:00","canonical_url":"https://www.share-talk.com/what-happened-overnight-thursday-18th-july-2024/","markdown_url":"https://www.share-talk.com/what-happened-overnight-thursday-18th-july-2024.md","json_url":"https://www.share-talk.com/what-happened-overnight-thursday-18th-july-2024.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Asian","Australia","china","Dow Jones Industrial Average","Hang Seng","Hong kong","Jakarta","Japan","Korean","Manila","markets","NASDAQ","Nasdaq Composite index","S&P 500","Seoul","shanghai","Singapore","South Korea","Stock Markets","Sydney","Taipei","Taiwan","Tokyo","US stocks","US Treasury bonds","Wall Street","Wellington","Yen"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/07/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"Asian equities declined as investors worried about escalating trade tensions between the US and China.\n\nMeanwhile, the yen remained strong after reaching a six-week high, likely due to suspected interventions by Tokyo.\n\nThe US dollar hovered near its weakest level in four months against a basket of currencies, as comments from Federal Reserve officials strengthened the case for a rate cut in September, keeping gold near record highs.\n\nMSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6%, with a sub-index of IT stocks down 2.5%. Tech-heavy South Korean shares dropped 1.5%, while Taiwan stocks decreased by 2%.\n\nThe yen’s strength and a sharp decline in chip stocks led Japan’s Nikkei to fall more than 2%.\n\nA report indicating that the United States was considering tighter restrictions on exports of advanced semiconductor technology to China triggered a sharp sell-off in chip stocks, causing the Nasdaq to tumble overnight.\n\nOn Wednesday, the S&P 500 lost 1.4%, closing at 5,588.27, and the tech-heavy Nasdaq Composite index dropped 2.8%, closing at 17,996.93.\n\nThe Dow Jones Industrial Average, which has underperformed the other two major US stock indexes this year, ended 0.6% higher, marking its third consecutive record-closing high.\n\nThe yield on benchmark 10-year US Treasury bonds fell to 4.152% on Wednesday, down from 4.167% late on Tuesday. During trading yesterday, the yield hit 4.146%, its lowest since March 13."}