Brokerage stocks broadly lower, with margin-account liquidation selling also weighing as they go ex-dividend

Ahead of the dividend ex-date, brokerage stocks broadly fell. Margin-position unwinding also progressed, including at major names such as Daiwa Securities Group Inc. and Nomura Holdings, Inc.

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The story

Brokerage stocks have broadly moved lower in the market, with selling pressure intensifying ahead of the dividend ex-date. The specific names cited are mainly major securities firms.

The names cited include Daiwa Securities Group Inc., Nomura Holdings, Inc., Marusan Securities Co., Ltd. and Tokai Tokyo Financial Holdings, Inc., with margin-position unwinding observed.

At a glance

Market characteristicsBrokerage stocks broadly moved lower

Ex-rights effectThe view that selling pressure will intensify on the dividend ex-date

Margin trading trendsThere are indications that margin-position unwinding progressed

Examples of stocksDaiwa Securities Group Inc., Nomura Holdings, Inc., Marusan Securities Co., Ltd., Tokai Tokyo Financial Holdings, Inc.

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