Japan's Nikkei dropped on Wednesday morning as companies' going ex-dividend dented the market, while stability in U.S. yields supported the downside.
Companies whose business years end in March go ex-dividend on Wednesday, after which investors will no longer qualify for the latest dividend payout.
Market participants estimated the effect of the resulting adjustment to prices would take about 170 points off the Nikkei benchmark index.
The Nikkei share average fell 0.6 percent, or 130.66 points, to 21,297.73 at the midday break. The broader Topix dropped 1.0 percent to 1,602.29, with all but one of its 33 subsectors in negative territory.
Source : Reuters