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