Tokyo Stocks Down By Break After Six-day Rally

Mohammad Ali (@ChaudhryMAli88) Published July 20, 2016 | 10:43 AM

TOKYO, (APP - UrduPoint / Pakistan Point News - 20th july,2016) - Tokyo shares headed for their first loss Wednesday after a six-day winning streak, while Nintendo's Pokemon Go rally fizzled just as the hugely popular smartphone game prepares to launch in Japan. Nintendo fell nearly 13 percent 27,650 Yen ($260) in the morning, just a day after the videogame giant shot past Sony in market value. Nintendo stock more than doubled since Pokemon Go's release this month sparked a global frenzy, and boosted hopes for the company's nascent move into mobile gaming.

Reports have said the game's launch in home market Japan could come \as early as Wednesday or Thursday, having been released in more than two dozen countries by the weekend. Nintendo and the Pokemon Company declined to comment, while US-based Niantic -- which developed the game -- has not replied to requests for comment. Forbes has cited Niantic chief executive John Hanke as saying the reason for the delay is that Japan's server capacity is not powerful enough to keep up with expected demand.