Nintendo Stock Rebounds After Fed Cuts Rate

nikkei.JPG Nintendo stock rebounded 6.3 percent, or 3,200 yen, after the U.S. Federal Reserve yesterday cut its benchmark interest rate.

The jump in Nintendo stock was part of a Japanese stock rebound spurred by the cut which came after the worst two-day drop in that stock in 17 years. Ironically the cut actually hurt Sony, which saw a 2.7 percent drop, spurring at least one investment group to change its rating on Sony from neutral to buy.

It's pretty amazing to me to think that the Japanese economy, right now, seems to be running on a game engine and that it's not even a next-gen one.

Japan's Stocks Rebound After U.S. Federal Reserve Cuts Rate [Bloomberg]


Comments

Be the first to comment on this story!

Trending Stories Right Now