Asian-Pacific stock indices stated today’s trading session with a rally but later they entered the red zone, having failed to consolidated their position. The major reason for the overall decline is believed to be the current economic situation in Japan.
The recent situation in the market looks as follows:
· MSCI Asia Pacific: + 0,5% up to 120,96.
· Nikkei 225: -0,1%.
· Kospi: -0,1%.
· Shanghai Composite: -0,4%.
· S&P/ASX 200: +0,2%.
· Hang Seng: +0,6%.
The chart below, courtesy of , reflects the current state of affairs in the market of Nikkei 225:
The index is trading around a major level of support. A break below it will indicate the forming of the last wave [v] of (5) of the current downtrend.
