BOJ Stimulus Has Not Effect to Fix the Nikkei index

Japan stocks move up down on the trading day, rising delete in early trading losses after the Bank of Japan said it will increase the purchase of exchange gave contribution to the funds (ETF), but eventually go back into negative territory.

The BOJ running monetary policy is not changed as expected, but the central bank announced a new program to buy ETF on the annual rate of 300 billion yen ($2.45 hkd billion). This is in addition to the purchase program the increase of ownership of bank ETF ETF at an annual rate of around 3 trillion yen.

Meanwhile, slump in crude oil prices in Asian trading session was still a negative sentiment slump in the Nikkei index. Crude oil prices slump continues in the session evaporated in Asia. The price of WTI crude oil futures fell 18 cents to $ 34,77 per barrel. Brent crude oil prices fell 19 cents to $ 36,87 per barrel.

The petroleum stocks respond to negative decline crude oil. Shares of Inpex Japan and Japan Petroleum still down 2.6 percent and against 2.46 percent at the close of the market

on the stock trading today, Toshiba shares is still in focus, with shares down 2,92 percent, after a report that the company is considering spin-off of flash memory business to gather funds for the restructuring.While for the Nikkei index futures also monitored in the negative zone, down 100 points or 0.53 percent at 18,850, down from the previous trade on 18,950.

On the next Monday will be released economic data All Industry Activity Index (MoM) October, where the previous results are in a position -0,2%, no consensus results expected data.

We estimates that the movement of the Nikkei index on the next will potentially lower limited with advanced estimate the decline crude oil prices world, while there is not a strong fundamental data that can support the index. It technically the Nikkei index will move in the range Support 18,371-17,964, and the range Resistance 19,365-19,1285.