Asian Stock Indices Are Rallying On Positive News From Europe

Most Asian stock indices are trading in the green zone today. The major bullish factor is the Euro Group’s positive decision on the Greek issue. In particular, the authorities decided to provide Greece with another major tranche - €43,7bn. At the same time, Asian economies are showing some strength.

The current market situation looks as follows:

·         Nikkei Stock Average 225: +0,48% up to 9434,19.

·         SSE Composite: - 0,81% down to 2001,07.

·         Hang Seng: + 0,31% up to 21930,28.

·         Straits Times Index: + 0,19% up to 3010,26.

·         S&P/ASX200: + 0,74% up to 4456,8.

The chart below, courtesy of , reflects the current state of affairs in the market of Nikkei 225. The experts say that the previous levels of resistance have turned into decisive levels of support. 9485 is the key level of resistance.

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