By Vadim Pokhlebkin Wed, 09 Mar 2011 16:15:00 ET

"A Merrill Lynch survey of global fund managers finds that long exposure to emerging markets has now dropped to merely 5%, the lowest reading since March 2009."

• India: SENSEX investors have recently been moving money out of stocks and into money markets. It seems they are afraid of stocks -- and the March Asian-Pacific Financial Forecast uses this and Elliott Wave evidence to tell you if it all amounts to a bullish or bearish forecast for the SENSEX.

• Japan: Surveys show that the NIKKEI investors are the most optimistic they've been since January 2007. Optimism is also showing in the news of a merger between Japan's two longtime industrial rivals, Nippon Steel and Sumitomo Metals. Elliott wave and socionomic analysis tells us that, “a waxing positive social mood always engenders cooperation” -- and the March issue explains what this and other evidence likely means for the NIKKEI's trend from here.

• China: The country's new weekly brokerage account openings -- a sentiment indicator that previously helped the Asian-Pacific Financial Forecast identify tops and bottoms in the Shanghai Composite -- fell to the third-lowest number on record in February. Chinese investors seem to feel worse about stocks than Merrill Lynch’s global fund managers do about emerging markets. Yet, says editor Mark Galasiewski, Chinese investors who believe that the Year of the Rabbit should be lucky for stocks may just be right. Read more in the China section.

• Australia: This section brings you an update on the All Ordinaries stock index and a special study of Rupert Murdoch's News Corporation. It's the story of a man who turned an Australian newspaper company into one of the world’s largest media empires. But was it all due to his good foresight? On the contrary. Find out the surprising details in the special section: "Waves of Empire: Rupert Murdoch and News Corporation."

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