Nintendo Co Ltd shares jumped 17 percent in morning Tokyo trade on Friday, a day after China
TOKYO (Reuters) – Nintendo Co Ltd shares jumped 17 percent in morning Tokyo trade on Friday, a day after China’s Tencent Holdings Ltd won a key approval to begin selling Nintendo’s Switch console in the world’s largest video games market.
That is the biggest percentage gain since July 2016, when enthusiasm for Nintendo-backed smartphone game Pokemon Go sent the stock rocketing. Friday’s jump sent the shares to their highest price since October and pushed the year-to-date gain to 32 percent.
Nintendo’s U. S.-listed shares rose 12 percent overnight after the Chinese province of Guangdong allowed Tencent to distribute the Switch console with a test version of the “New Super Mario Bros.
