Asia Stocks Mixed; Nintendo Says Pokémon Won't Prompt Forecast Upgrade
Asian stocks were mixed on Monday after G20 leaders pledged to cooperate to mitigate against Brexit fallout.
At the close of a meeting in Chengdu, China, the leaders pledged to use "all policy tools" to support economic growth.
The Nikkei 225 closed down 0.04% at 16,620.29 and the Topix fell 0.16% to 1,325.36, reversing earlier gains as the yen climbed back against major currencies.
But Nintendo (NTDOY) closed down 17.7% in Tokyo after the company said late on Friday that only a "limited" benefit from hit game Pokemon Go will feed through to its bottom line. The decline came after the company's stock had almost doubled since the launch of the smartphone game in the U.S. earlier this month.
The Japanese company doesn't expect to revise its annual forecast higher, added Nintendo, which owns a stake in the game's developer, Niantic.
Both the dollar and the euro were recently up 0.03% against the yen, at ¥106.1600 and ¥116.5400, respectively. Earlier, excitement about potential Bank of Japan stimuli at the close of its meeting on Friday had pushed down the Japanese currency further and lifted stocks.
Revised June trade data showed Japanese exports fell by 7.4% year-on-year, declining for the ninth consecutive month, while imports tumbled 18.8%. They have fallen for the past year and a half.
In Hong Kong the Hang Seng was down 0.20% towards the end of the trading day 21,924.85.
Insurer Fosun slipped 0.40% after it confirmed it had filed registration documentation concerning the planned spinoff of its Ironshore insurance unit in the U.S.
On mainland China the CSI 300 was down 0.02% at 3,224.54.
Brent crude was recently down 0.13% at $45.63 a barrel, close to a two-month low, as rig data from the U.S. pointed to expanded production.