Shares in Japan’s Nintendo Co. rallied strongly early Thursday, following the announcement of a new mobile game featuring its famed Mario character, though broader stocks across the Asian region were mostly lower.
As the Nikkei Stock Average NIK, -0.32% eased 0.3% amid further yen strengthening against the dollar, the videogame maker has jumped 14%, reversing some of the late-July pullback seen after Nintendo’s stock surge that month in the wake of the release of “Pokemon Go.” But broader equity weakness in Japan came as a revised economic report showed inflation slowed and stagnated wage growth.
Elsewhere, Australia’s S&P/ASX 200 XJO, -0.71% was recently down 1%, Hong Kong’s Hang Seng Index HSI, +0.67% was off 0.1% and Korea’s Kospi SEU, +0.09% was down 0.2%.
Overnight, Nintendo 7974, +13.20% said “Super Mario Run” — the latest push into mobile-phone gaming for a company which long stayed out of the sector — will launch in December on smartphone platforms beginning with Apple Inc.’s AAPL, +0.61% iOS. Analysts forecast the impact being greater than from what Nintendo is liable to see from “Pokemon Go.”
“Earnings contribution was said to be limited from ‘Pokemon Go,’ but Mario is Nintendo’s content...We can expect earnings improvement,” said Hideyuki Ishiguro, senior strategist at Daiwa Securities.
Apple, meanwhile, unveiled the iPhone 7 to mixed reviews. While its stock rose slightly in the U.S. on Wednesday, the tech firm’s Midas touch didn’t extend to Taiwan, where shares of key manufacturing suppliers -- Hon Hai Precision Industry Co. 2317, -1.26% , Wistron Corp. 3231, -1.29% and Compal Electronics Inc. 2324, -0.26% — were down modestly.
“Overall, this update is much better than Apple’s past few events,” said Neil Saunders, CEO of retail research firm Conlumino. “However, in our view it still falls some way short of the magical launches Apple used to conduct. As such, while it will stimulate demand we do not expect it to completely remedy the more sluggish sales Apple has faced over the past few quarters.”
In Australia, institutional selling and a recalibration of expectations surrounding rates in the country following the Reserve Bank of Australia’s decision to keep interest rates unchanged pressured stocks.
“The financials are taking the big points out of our market today,” said Chris Weston, chief market analyst at IG Market Ltd.
Still on tap later Thursday is trade data from China, which could trigger market volatility.
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As the Nikkei Stock Average NIK, -0.32% eased 0.3% amid further yen strengthening against the dollar, the videogame maker has jumped 14%, reversing some of the late-July pullback seen after Nintendo’s stock surge that month in the wake of the release of “Pokemon Go.” But broader equity weakness in Japan came as a revised economic report showed inflation slowed and stagnated wage growth.
Elsewhere, Australia’s S&P/ASX 200 XJO, -0.71% was recently down 1%, Hong Kong’s Hang Seng Index HSI, +0.67% was off 0.1% and Korea’s Kospi SEU, +0.09% was down 0.2%.
Overnight, Nintendo 7974, +13.20% said “Super Mario Run” — the latest push into mobile-phone gaming for a company which long stayed out of the sector — will launch in December on smartphone platforms beginning with Apple Inc.’s AAPL, +0.61% iOS. Analysts forecast the impact being greater than from what Nintendo is liable to see from “Pokemon Go.”
“Earnings contribution was said to be limited from ‘Pokemon Go,’ but Mario is Nintendo’s content...We can expect earnings improvement,” said Hideyuki Ishiguro, senior strategist at Daiwa Securities.
Apple, meanwhile, unveiled the iPhone 7 to mixed reviews. While its stock rose slightly in the U.S. on Wednesday, the tech firm’s Midas touch didn’t extend to Taiwan, where shares of key manufacturing suppliers -- Hon Hai Precision Industry Co. 2317, -1.26% , Wistron Corp. 3231, -1.29% and Compal Electronics Inc. 2324, -0.26% — were down modestly.
“Overall, this update is much better than Apple’s past few events,” said Neil Saunders, CEO of retail research firm Conlumino. “However, in our view it still falls some way short of the magical launches Apple used to conduct. As such, while it will stimulate demand we do not expect it to completely remedy the more sluggish sales Apple has faced over the past few quarters.”
In Australia, institutional selling and a recalibration of expectations surrounding rates in the country following the Reserve Bank of Australia’s decision to keep interest rates unchanged pressured stocks.
“The financials are taking the big points out of our market today,” said Chris Weston, chief market analyst at IG Market Ltd.
Still on tap later Thursday is trade data from China, which could trigger market volatility.
Click here for Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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