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Pokemon profit fears continue to hit Nintendo's shares Pokemon profit fears continue to hit Nintendo's shares
(35 minutes later)
Shares in Japanese games company Nintendo have fallen for a second day, adding to Monday's record loss, after the firm said that Pokemon Go's success would have limited profit impact. Shares in Japanese games company Nintendo have fallen for a second day, adding to Monday's record loss, after it said that Pokemon Go's success would have limited impact on its profits.
Nintendo was down 5% in early trade, following a 17.7% plunge on Monday. Nintendo fell more than 3% lower, following a 17.7% plunge on Monday.
While the Pokemon franchise is owned by Nintendo, the developer of the game is US company Niantic.While the Pokemon franchise is owned by Nintendo, the developer of the game is US company Niantic.
Nintendo's market value more than doubled at one point due to the huge success of Pokemon Go.Nintendo's market value more than doubled at one point due to the huge success of Pokemon Go.
The firm's shares are still up more than 50% from before the 6 July launch of Pokemon Go.The firm's shares are still up more than 50% from before the 6 July launch of Pokemon Go.
Overall, Japan's Nikkei 225 lost 1% to 16,450.90 points. Overall, Japan's Nikkei 225 lost 1.5% to 16,363.82 points.
Investors in Tokyo are also looking ahead to the Bank of Japan meeting on Thursday and Friday, expecting clues about the next stimulus package promised by Prime Minister Shinzo Abe. The losses come ahead to a Bank of Japan meeting at the end of the week, which is expected to give clues about a new stimulus package promised by Prime Minister Shinzo Abe.
Shares in South Korea also traded lower, the country's benchmark Kospi index was down by 0.2% to 2,008.51 points. In China, Hong Kong's Hang Seng fell 0.2% to 21,952.06 points while the mainland Shanghai Composite was flat at 3,014.50.
Shares in South Korea were similarly lacklustre with the country's benchmark Kospi index also flat at 2,010.47.
Shares in SK Hynix fell by as much as 4% after the world's second-biggest chip maker said its second-quarter operating profit fell 67% compared to the same period the previous year due to weaker demand weighing on chip prices.
In Australia, the ASX 200 also lost ground, shedding 0.4% to 5,514.10.In Australia, the ASX 200 also lost ground, shedding 0.4% to 5,514.10.