Japan’s stocks fell,
after the Topix index capped its sixth weekly decline in seven weeks, as
more than half the companies in the measure traded without the right to
receive the next dividend.
The Topix slipped 0.5
percent to 1,446.97 as of 9:01 a.m. in Tokyo, while the Nikkei 225 Stock
Average lost 0.4 percent to 17,808.47. More than 1,000 Topix members
are trading ex-dividend Monday, equating to a 10.8 point drag on the
measure, data compiled by Bloomberg show.
The yen strengthened
0.1 percent to 120.41 per dollar, after sliding 0.4 percent on Friday as
Federal Reserve Chair Janet Yellen said the central bank remains on
track to raise interest rates in 2015, bolstering the greenback.
E-mini futures on the
Standard & Poor’s 500 Index lost 0.5 percent, after the underlying
measure dropped less than 0.1 percent on Friday. Biotechnology stocks
plunged into a bear market amid concerns over drug prices, while Nike
Inc. soared after beating analysts’ profit estimates.
House Speaker John
Boehner said he will resign from Congress at the end of October,
following clashes with conservative members of his Republican
conference. While that frees him to schedule a quick vote on a funding
bill that will get enough support from Democrats to avoid a government
shutdown on Oct. 1, it shifts the risk to December, when the short-term
funding expires.
Source : Bloomberg
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