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[Time Published September 09, 2013 at 06:25PM]
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Nintendo experienced a significant drop in stock shares after being excluded from the Nikkei 225 Stock Average, resulting in its biggest slump in more than two years, Bloomberg reports.
Shares of the company fell 8.4 percent to 10,860 yen in Tokyo. Nintendo previously gained 31 percent following expectations of its stock being added to the Nikkei, Japan's most widely quoted average of Japanese equities; however, it failed to be promoted in the annual index review as was expected by market analysts.
In a report referenced by Bloomberg, BNP Paribas SA analyst Takao Suzuki stated: "We believe Nintendo's shares have been overvalued due to speculative demand, on the assumption that they would be included in the Nikkei. As this expectation...
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[Source Maxim Bange shared items on The Old Reader (RSS) http://www.polygon.com/2013/9/9/4710132/nintendo-hit-by-biggest-drop-in-stock-shares-in-over-two-years]
[Time Published September 09, 2013 at 06:25PM]
[<-- Content]
Nintendo experienced a significant drop in stock shares after being excluded from the Nikkei 225 Stock Average, resulting in its biggest slump in more than two years, Bloomberg reports.
Shares of the company fell 8.4 percent to 10,860 yen in Tokyo. Nintendo previously gained 31 percent following expectations of its stock being added to the Nikkei, Japan's most widely quoted average of Japanese equities; however, it failed to be promoted in the annual index review as was expected by market analysts.
In a report referenced by Bloomberg, BNP Paribas SA analyst Takao Suzuki stated: "We believe Nintendo's shares have been overvalued due to speculative demand, on the assumption that they would be included in the Nikkei. As this expectation...
Continue reading…
[-->]
[Source Maxim Bange shared items on The Old Reader (RSS) http://www.polygon.com/2013/9/9/4710132/nintendo-hit-by-biggest-drop-in-stock-shares-in-over-two-years]
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