Asian-Pacific Stock Indices Are Bullish

As of September 19^th, Asian-Pacific stock markets are in the green zone after the Bank of Japan decided to stimulate the national economy further.

·         MSCI Asia Pacific is up by 0,6% (123,86)

·         Nikkei 225 has gained 1,68%

·         Hang Seng - 1,05%

·         Kospi - 0,14%

·         S&P/ASX 200  - 0,45%

According to the Bank of Japan, the key interest rate remains around 0-0.1% while the bailout (bond purchase) program was expanded by ¥10 trillion. It is expected to last till late 2013.

The chart below, courtesy of , reflects the current state of affairs in the market of Nikkei 225. The index is trading in a narrow range. The price will initiate wave 5 if it breaks and consolidates above 9262.