Tokyo Stocks Snap 6-day Rally, Nintendo Tumbles

Tokyo stocks snap 6-day rally, Nintendo tumbles

TOKYO,(Pakistan Point News - 20th july,2016) : Tokyo shares sank Wednesday, ending a six-day winning streak, with Nintendo plunging on profit-taking after more than doubling this month on the back of the Pokemon Go phenomenon. The videogame giant slumped almost 13 percent to 27,765 yen, just a day after it overtook Sony in market value, while Japanese fans were left disappointed after a rumoured release in the country Wednesday proved wrong. A gaming website Tuesday had flagged the launch in Nintendo's home market, but it bactracked within a day, saying it would likely come out Thursday, having hit shelves in more than two dozen countries by the weekend. Nintendo's shares had more than doubled since Pokemon Go's release this month sparked a global frenzy, and boosted hopes for the company's move into mobile gaming.