TOKYO, March 30 (Reuters) - Japan's Topix ended lower on
Tuesday, dragged down by stocks that went ex-dividend, while the
Nikkei inched up as investors bought back the benchmark after
its underperformance against Topix following the Bank of Japan's
decision to only buy Topix-linked exchange traded funds.
The Topix lost 0.78% to close at 1,977.86, while
the Nikkei index snapped early losses to inch up 0.16% to end at
"Overall the market was affected by the shares that went
ex-dividend," said Koichi Kurose, chief strategist, Resona Asset
"Investors who have bought the Topix since the Bank of
Japan's announcement earlier this month to only buy the
Topix-linked ETFs are now selling those and buying back the
Topix heavyweights automaker Toyota Motor fell
1.22%, while mobile phone operator KDDI lost 3.11%.
Nikkei heavyweight Uniqlo clothing shop operator Fast Retailing
The banking and securities sectors retreated amid fears
that global banks could lose more than $6 billion from the
downfall of Archegos Capital.
Mitsubishi UFJ Financial Group fell 0.49%, Sumitomo
Mitsui Financial Group and Mizuho Financial Group
slipped 0.96%, respectively.
Nomura Holdings, which plunged 16% on Monday after
it flagged $2 billion in losses at a U.S. subsidiary, lost
The airline and shipping industry gained the most among the
33 sector sub-indexes on the Tokyo exchange, with ANA Holdings
jumping 3.49% and Japan Airlines rising 2.53%.
Kawasaki Kisen jumped 5.19% and Nippon Yusen
J.Front Retailing Co, up 5.24%, was the top gainer
on the Nikkei index, followed by Kawasaki Kisen and CyberAgent
Inc, up 4.04%.
Japan Post Holdings, down 6.41 %, was the largest
percentage loser on the Nikkei, followed by KDDI, and Sumitomo
Corp down 3.06%.
There were 89 advancers on the Nikkei index against 128
(Reporting by Junko Fujita; Editing by Shailesh Kuber)