Nintendo hits seven month low as Japan stocks slide

Wednesday, 6 February 2008 07:48 GMT By Patrick Garratt

Sometimes you can’t do anything right. Despite leading the entire videogames race, Nintendo’s shares have hit a seven month low on the Nikkei, following a general trend in the Japanese market caused by the strong yen and a rotten US forecast. Shares in the company fell 5.9 percent today to (£219.30), the lowest price since July 2 last year.

“There’s an increasing chance that the U.S. 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 Japan.