Nikkei falls for 1st time in 7 days, Nintendo slides

martes 19 de julio de 2016 22:36 GYT

* Nintendo shares fall 10 pct after sharp jump in value

* McDonald's soars on report it will be Pokemon GO's sponsor

* Cyclical stocks underperform

* Up-down ratio signals market still not overbought

By Ayai Tomisawa

TOKYO, July 20 (Reuters) - Japan's Nikkei share average dropped for the first time in seven days on Wednesday morning as Wall Street pulled back, hitting sentiment and triggering profit-taking from the recent gains.

Nintendo Co fell 10 percent in early trade after the stock more than doubled in value over the past seven sessions powered by the record-breaking success of the Pokemon GO mobile game.

Also under the spotlight was McDonald's Holdings Company Japan, which jumped 12.5 percent after TechCrunch reported the fast-food chain operator would become the game's first sponsor. TechCrunch said the sponsorship will see McDonald's 3,000-plus fast food restaurants across Japan become "gyms", or battlegrounds, for Pokemon collectors.

The Nikkei dropped 0.7 percent to 16,608.32 in mid-morning trade, after rising 10.7 percent in the past six days.   Continuación...