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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 it said that Pokemon Go's success would have limited impact on its profits. | |
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 1.5% to 16,363.82 points. | |
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. | |
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. |