Most Asian Shares Advance on U.S. Data; Dividends Drag on Tokyo

Most Asian Shares Advance on U.S. Data; Dividends Drag on Tokyo

Bloomberg, (27/3) -- Most Asian shares rose after U.S. home prices climbed the most since 2006 and orders for durable goods beat estimates. Gains by Japanese shares were limited as 79 percent of the companies in the Topix Index traded without dividend rights today. The MSCI Asia Pacific Index dropped 0.1 percent to 135.5 as of 10:07 a.m. in Tokyo, with about five shares increasing for every four that slipped. The MSCI Asia Pacific excluding Japan Index swung between gains and losses as Australian and New Zealand companies advanced. The Topix retreated 0.1 percent to 1,043.73. “Stocks would’ve risen a lot without shares going ex- dividends,” said Koji Toda, chief fund manager at Resona Bank Ltd. in Tokyo, which oversees about 15 trillion yen ($159 billion). “The U.S. is experiencing the best scenario in that its economy is going strong while risk remains for the rest of the world, namely Europe.” South Korea’s Kospi Index was little changed. Australia’s S&P/ASX 200 rose 0.4 percent and New Zealand’s NZX 50 Index advanced 1 percent in Wellington.