Asian-Pacific stock markets are multidirectional today. The indices are mainly bullish. However, some of the stock indexes are in the red zone right now.
It seems like investors are still impressed by the Federal Reserve’s decision to start another round of quantitative easing (QE3). They are also reassured by China’s decision to stimulate the national economy as well.
MSCI Asia Pacific has shown some growth (except Japan): + 0,2 % up to 442,6
Kospi has dropped 0,33 % down
S&P/ASX 200 has gained 0,22%
Hang Seng has increased by 0,01%
Nikkei 225 has shown no change as the market is closed for a day-off.
The chart below, courtesy of , reflects the current state of affairs in the market of Nikkei 225. The price has finished wave [iii] of (3) inside a major uptrend. If the supposition is right, the price will be consolidating tomorrow in advance of upswing represented by wave [v]. It is also necessary to pay attention to the fact that the index is currently trading around a major level of resistance (9248).
