Nikkei slips on dividend cutoff, buoyant yen

Japan's Nikkei average fell 1.1% on Tuesday, dropping as the deadline passed for investors to receive dividends on Tokyo stocks for the financial first half-year and as the yen held near its highest in almost two weeks.
The benchmark Nikkei shed 107.38 points to 9,495.76, of which about 63 points was likely due to the "ex-dividend effect", analysts said.
Monday was the last day for investors to buy many Japanese stocks and still get dividends on them for the April-September half-year.
One analyst said selling of Nikkei futures related to position adjustments after the dividend deadline passed also likely contributed to the fall.
The broader Topix shed 0.8% to 842.65.