Nintendo soared Friday as its new smartphone game debuted at the top of gaming charts, but the gains were not enough to prevent Tokyo stocks slipping for a fourth straight session ahead of US jobs data. The videogame giant rocketed nearly nine percent to 16,270 yen its latest foray into mobile gaming was embraced by consumers. Pokemon GO - which connects a user's real-world location to the game as they try to catch on-screen characters - launched in the US and Australia and was an immediate hit with fans.
In March, the Super Mario maker released Miitomo, its first-ever mobile game, as it moved away from a longstanding consoles-only policy. Despite Nintendo's rise, investors remained wary at the end of a volatile week dominated by the fallout of Britain's move to quit the European Union. The US employment figures for June will be scrutinised for clues about the direction of monetary policy in the world's top economy.
At the start, Tokyo's benchmark index looked poised to snap its losing streak, as investors scooped up bargains but a stronger yen clouded the outlook for Japanese exporters' finances and dragged shares lower. "Obviously the currency is a big factor. If the (yen) is going to see significant strengthening, it makes it very difficult for the exporters to do business," Andrew Sullivan, managing director of sales trading with Haitong International Securities Group, told Bloomberg News.
The Nikkei 225 index slumped 1.11 percent, or 169.26 points, to 15,106.98 by the close, giving up 3.67 percent over the week. The Topix index of all first-section shares shed 1.32 percent, or 16.21 points, to end at 1,209.88 - losing 3.55 percent since last Friday's close.
Next week, investors will be watching for Japanese factory output figures and the kick-off to the country's earnings season. Messaging app Line also makes its stock market debut in Tokyo and New York. Oil-linked stocks fell following a plunge in crude prices Thursday, with energy explorer Inpex shedding 1.98 percent to finish at 741.5 yen and refiner JX holdings 0.75 percent off at 381 yen.
Toyota fell 0.35 percent to 5,055 yen and Nissan was down 0.73 percent at 918.9 yen, but rival Honda tacked on 0.56 percent to end at 2,476.5 yen. In currency trade the dollar was at 100.41 yen against 100.76 yen late Thursday in New York. Traders are trying to guess whether Japanese officials will step in to halt the yen's rise, which threatens profits at the country's exporters. Senior Japanese officials met Friday morning to discuss recent market swings. Afterwards, Masatsugu Asakawa, the vice minister of finance for international affairs, said Tokyo would take necessary steps to settle volatility - repeating earlier remarks by Japanese officials.
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