Chugai Pharmaceutical Co. soared 16 percent as people familiar with the matter said Roche Holding AG is in talks to buy the rest of the Japanese drugmaker. Nintendo Co. rose the most in eight months in Tokyo on U.S. sales of its “Mario Kart 8” video game. National Australia Bank Ltd. slid 1.6 percent after the nation’s largest lender by assets said it will set aside more than 245 million pounds ($410 million) for compensation related to U.K. insurance and hedging products.
The MSCI Asia Pacific Index (MXAP) slipped 0.1 percent to 147.92 as of 12:01 p.m. in Tokyo after rising as much as 0.1 percent. Six of 10 industry groups on the gauge advanced. The measure last week rallied 2.7 percent as investors weighed earnings, Ukraine developments and economic data that fueled bets central banks will maintain stimulus.
We are seeing “a slight reduction in geopolitical risks,” said Shane Oliver, a Sydney-based global strategist at AMP Capital Investors Ltd., which oversees about $131 billion. “The trend in shares is likely to remain up and, while it’s impossible to be sure given uncertainties around various geopolitical risks, we may have already seen the low.”
Japan’s Topix index added 0.1 percent, while Australia’s S&P/ASX 200 Index was little changed. South Korea’s Kospi index declined 0.4 percent and New Zealand’s NZX 50 Index slipped 0.3 percent. Singapore’s Straits Times Index fell 0.3 percent and Taiwan’s Taiex Index retreated 0.8 percent.
Source: bloomberg.com
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