Matt Martin
08:33 (BST)
06/02/2008
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Nintendo shares fall to seven month low
Recession fears slow Japanese export market
Nintendo shares sank to a seven month low on the close of the Nikkei, despite the company experiencing runaway success with sales of the Wii and DS consoles.
Stock fell 5.9 per cent to JPY 45,800, the lowest since the beginning of July, as the Japanese export market braces itself for a possible recession.
Companies exporting product to the US have begun to reduce production due to slower growth in the region, following minimal growth in Japan.
"There's an increasing chance that the US will post negative growth in the first quarter, and that's tough news for cyclical markets like Japan," said Akio Yoshino, chief economist at Societe Generale Asset Management, speaking to Bloomberg.
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