Japanese stocks fell,
paring the Topix index’s first monthly advance in four months, as more
than two-thirds of the companies in the measure traded without the right
to receive the next dividend.
The Topix declined 1
percent to 1,368.79 at 9:01 a.m. in Tokyo, with all of the 33 industry
groups sinking. The measure is on course for a 5.5 percent gain in
March. The Nikkei 225 Stock Average retreated 0.8 percent to 16,997.61.
More than 1,500 Topix members trade ex-dividend Tuesday, equating to a
13.2 point drag on the measure, data compiled by Bloomberg show. Federal
Reserve Bank Chair Janet Yellen will speak at an event hosted by the
Economic Club of New York.
Futures on the
Standard & Poor’s 500 Index were little changed. The underlying U.S.
equity gauge rose less than 0.1 percent after weaving between gains and
losses, as investors assessed economic data for clues on the course for
interest rates.
The yen traded at 113.38 per dollar on Tuesday after posting its longest streak of declines since October.
Source : Bloomberg
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