Asian markets made up for their previous sessions losses with the Yen being weakened. Bank of Japan announced their monetary easing policy following the footsteps to combat the aggressive policy stand from the Federal Reserve. However, concerns still remain about the financial strain on Spain from the Eurozone and the decline in corporate profits. Bank of Japan announced the expansion of the monetary easing policy to the amount of 80 trillion Japanese Yen up from its existing 10 trillion Yen in order purchase government bonds and treasury bills. The BoJ however kept the key interest rates at 0.1%, unchanged.

Boosting the regional markets, Bank of Japans recently concluded minutes meeting announced the asset purchase program amidst slowdown in the global markets and decline in the Japanese export sector. The Japanese Yen dropped to a one month low from previous levels of $78.66 to $79.10. The Nikkei index spiked 1.3% making up on the gains of 0.5% ahead of the BoJs decision.

But the NIkkei continues to face pressure especially with the escalating tensions with China in regards to the disputed islands. Global equities look vulnerable with the possibility for the BoJ to step in to boost the market sentiment.

The Asia Pacific MSCI index gained 0.6% after trading flat rising only by 0.2% ahead of the BoJs decision.

Meanwhile in the US, stocks closed near flat while the European markets closed lower on Tuesday with Spain being the focus point of discussion. The Euro currency made 0.2% gains rising to $1.3068

While the ECB might have given the Euro a boost, investors are starting to be concerned about Spain which could eventually discount the efforts by the ECB. Spain has been reluctant to seek financial aid but analysts expect that it is only a matter of time.

Investor pressure was back on in Spain with the IBEX losing 1.57% closing a two week rally after the ECB commented that it was ready to provide financial assistance to debt ridden countries in the Eurozone. Spain is at the center of focus in Europe due to its recultance to seek financial aid, with Spanish Premier Rajoy fearing a backlash on account of the possible austerity measures in order to seek the bailout funds.

Spain has already requested for a lifeline of up to 100 billion Euro for its bank restructuring but it seems that that is not enough as investors are still not convinced the nation could meet its fiscal obligations and return to growth without additional assistance.

ECB council member Luc Coene cautioned Rajoy that delaying financial assistance could prove to be disastrous as it would not take long for the Spanish bonds to rise again.

Treasury bond prices in the US saw a modest rally after last week saw a sharp sell off and demand for safe haven assets growing as well.

Metals were mostly choppy with London Copper rising 0.4% to trade at $8354 to a tonne while Gold was up by 0.18% trading at $1771.80 to an ounce. Oil futures were also on the rise with US Crude Oil moving up by 0.66% to trade at $95.92 to a barrel.