Overnight

Despite the Nikkei 225 rebounding 1.3% overnight Wednesday from its Tuesday losses, it's still a wait and see game for many Asian investors until Friday to find out how much if any stimulus package the Bank of Japan will announce. Rumors floated around the market today it would be something like six trillion yen or $57 billion in direct fiscal outlays over the next few years, a local newspaper reported. Though less than the 10 trillion expected, the hope for some kind central bank easing policy from the BOJ's two day meeting that ends Friday still exists.

In other markets the Kospi was flat at 2,026.93; the hang Send edged 0.3% higher; the Australian ASX 200 was off 0.1% after being up in earlier trading; the Shanghai composite and Shenzhen both surrendered small losses. The yen traded at 105.12 against the dollar after Tuesday's close of 104.64.

What happens in Japan is critical in the eyes of many not only because the nation's been in a long economic funk but there are continuing signs global growth remains weak and just last month the OECD projected slower growth as a sign all the monetary policy moves might not help and could even make the slowdown worse.