Nikkei Rallies on Bullish Futures Trading, Shrugs Off Dividend Adjustment

Japan market summary for Tuesday (Sept. 25)
Nikkei 225 Stock Average: +89.12 (+0.5%) to 16,401.73
Nikkei 225 futures Osaka: +160 (+1.0%) to 16,430, Singapore (SGX) +185 (+1.1%) to 16,450, Chicago (CME) *9/25 -15 (-0.1%) to 16,400 [9/24 +15 (+0.1%) to 16,415]
TOPIX: +14.76 (+1.0%) to 1,566.38 ; Advancers 907x decliners 699 (unch. 112), New highs 19 x new lows 248; 26/33 sectors posted gains
Jasdaq: -7.37 (-0.4%) to 1,812.01
Yen: strengthened about 0.5% to 114.70 level against US$ late in Tokyo; strengthened about 0.4% against euro to 161.55 level
Notes: First positive close in three sessions for TOPIX. Nikkei traded lower initially (due to dividends having gone ex-rights) but rallied into the afternoon, led by bullish N225 futures trading. Positive close of nearly 90 points for Nikkei includes overcoming about 70 – 80 points (Nikkei Shimbun est. 76p) for dividend adjustment. TOPIX 2nd Section also closed in positive territory for the first time in three. Mitsubishi UFJ FG (MTU) (JP: 8306) is halted this week for a 1,000:1 stock split; trading resumes Monday.