---
title: "What happened overnight, Wednesday 20th March 2024"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-03-20T07:31:07+00:00"
modified: "2024-03-20T07:31:07+00:00"
date: 2024-03-20
canonical: "https://www.share-talk.com/what-happened-overnight-wednesday-20th-march-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", "Tokyo", "US stocks", "US Treasury bonds", "Wall Street"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/03/WORLD.webp?fit=1200%2C800&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# What happened overnight, Wednesday 20th March 2024

**Published:** March 20, 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, Tokyo, US stocks, US Treasury bonds, Wall Street
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/03/WORLD.webp?fit=1200%2C800&quality=80&ssl=1)

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Asian markets generally saw gains in anticipation of the Federal Reserve’s upcoming announcement regarding its plans for interest rate reductions.

Markets in Japan were closed due to a holiday. However, on Tuesday, the Bank of Japan increased its key interest rate for the first time in 17 years, setting it between zero and 0.1%, up from the previous -0.1%.

Following the Bank of Japan’s decision, both the British pound and the US dollar strengthened against the Japanese yen, indicating expectations that the interest rate differential between Japan and other major economies will continue for some time.

In Hong Kong, the Hang Seng Index modestly rose by 0.2% to 16,559.77, while the Shanghai Composite Index in China increased by 0.5% to 3,076.67.

China maintained its benchmark lending rates on Wednesday, aligning with predictions. Despite signs of economic recovery, the country’s real estate sector still faces challenges.

In other regions, Australia’s S&P/ASX 200 grew by 0.3% to 7,725.40. South Korea’s Kospi saw a 1.1% rise to 2,685.87, and Taiwan’s Taiex experienced a slight increase of 0.1%.

In the United States, the S&P 500 reached a new high on Tuesday, as investors made key decisions ahead of the Federal Reserve’s interest rate announcement. The index climbed 0.6% to 5,178.51, surpassing its previous record set the week before. The Dow Jones Industrial Average increased by 0.8% to 39,110.76, and the Nasdaq Composite Index went up by 0.4% to 16,166.79.

The yield on 10-year US Treasury bonds slightly fell to 4.29% from 4.33% at the close of Monday.

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