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Nintendo shares edge up after Monday's sharp fall | |
(35 minutes later) | |
Shares in Japanese games company Nintendo increased slightly after record losses on Monday when it had warned that the Pokemon Go success would have a limited impact on profits. | Shares in Japanese games company Nintendo increased slightly after record losses on Monday when it had warned that the Pokemon Go success would have a limited impact on profits. |
Nintendo rose by 1.6% following the 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. |
Despite seeing its sharpest drop in more than 25 years on Monday, the firm's shares are still up more than 60% from before the 6 July launch of Pokemon Go. | |
On the wider market, Japan's Nikkei 225 index fell 1.7% to 16,329.81. | |
The losses come ahead of 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 index rose 0.9% to 22,192.01, while the mainland Shanghai Composite also traded higher, 0.5% up at 3,029.51. | |
Shares in South Korea gained ground with the country's benchmark Kospi index rising 0.6% to 2,022.66. | |
Investor sentiment was lifted by fresh growth data showing that South Korea's economy grew at 3.2% in the second quarter, beating expectations. | Investor sentiment was lifted by fresh growth data showing that South Korea's economy grew at 3.2% in the second quarter, beating expectations. |
Shares in SK Hynix, though, fell by as much as 2% after the world's second-biggest chip maker said its second-quarter operating profit fell 67% from a year earlier due to weaker demand. | |
In Australia, the ASX 200 share index also lost ground, shedding 0.3% to 5,515.90. |