Thereafter, the Japan 225 CFD Index staged a minor corrective pull-back of -3.2% to print an intraday low of 44,485 on Friday, 19 September 2025, on the onset of the Bank of Japan (BoJ) announcement to start unwinding its massive hoard of around 79.5 trillion yen of exchange-traded funds (ETF) by market value as of mid-September tied to Japan benchmark stock indices. BoJ aims to sell its ETF holdings at a pace of around ¥620 billion per year by market value, or ¥330 billion by book value, starting in 2026. It will be a gradual unwinding process that may take more than 100 years to complete under the current plan. Additionally, it marks the first time the BoJ has laid out a plan for offloading the assets it has accumulated over years of ultra-easy monetary policy. Let’s now examine a fundamental factor that still supports a medium-term bullish trend in the Nikkei 225.