Nintendo stock surges following Zelda: Ocarina of Time remake launch

The Nikkei index fell 1,110 points, driven by declines in semiconductor and AI-related stocks like Advantest. Toyota surged 16.68% after strong earnings, while Sony reported a 45% profit increase. The broader TOPIX index rose 1.16%. Investors reacted to U.S. election results and tech regulation concerns.

The Nikkei index fell 3.56% to 60,835.36 on Wednesday, driven by investor concerns over U.S. tech regulations and high valuations. Key decliners included Advantest, Tokyo Electron, and SoftBank. Fast Retailing, Nintendo, and Yamato Holdings saw gains. Corporate earnings showed mixed results, with Mitsubishi, Mitsui, and Itochu reporting strong profits, while NTT and IHI had varied outcomes. Investors await earnings from Toyota, Nintendo, and others on November 5.

The Bank of Japan's September meeting is expected to raise rates by 25bps to 1.25%, a 31-year high. Financials like Mitsubishi UFJ (8306) and Sumitomo Mitsui (8316) may benefit from wider net interest margins, while exporters like Toyota (7203) could face headwinds from a stronger yen. Governor Ueda's guidance will be key for market direction.

Nintendo Co said its Pokemon Pokopia on Switch 2 sold over 5 million units in just over four months since the March 5 launch, and it released a paid expansion pass with more content planned for late 2026 and 2027. Nintendo also plans to launch Switch and Switch 2 in Indonesia in December via a Salim Group subsidiary. Shares rose 6.6% to 88.74 yen.

Dyne Therapeutics (DYN) reported a wider Q3 2026 net loss of $193.6M ($1.06 per share) due to higher R&D and administrative expenses. Cash reserves are $1.134B, expected to last into Q2 2028. The company's z-rostudirsen BLA is under FDA priority review, with a PDUFA date of January 21, 2027. Topline ACHIEVE trial data for z-basivarsen are expected in Q1 2027. DYN stock is trading at $18.23, down 1.78%.

Core Scientific reported Q3 revenue of $232.9M, exceeding estimates, with AI colocation contributing 92% of revenue. Colocation revenue rose 60% to $215.4M, while earnings per share were $3.42, beating projections. CEO Sullivan noted progress on colocation contracts. CORZ stock fell over 6% in morning trade.