Nintendo shares jump 13 percent after Tencent gains Switch sales approval in China
A monitor showing Nintendo Switch game consoles is seen at an electronics store in Tokyo, Japan March 3, 2017. REUTERS/Toru Hanai
TOKYO - Nintendo shares were untraded with a glut of buy orders in early Tokyo trade on Friday, a day after China’s Tencent won a key approval to begin selling Nintendo’s Switch console in China, the world’s largest games market. Nintendo’s U.S.-listed shares rose 12 percent overnight after the Chinese province of Guangdong approved Tencent to distribute the Switch console with a test version of the “New Super Mario Bros. U Deluxe” game.
The Kyoto-based games maker has been hampered by Japanese regulations and the search for a partner in its efforts to bring its hybrid home-portable Switch console to China, holding back the development of console gaming there.
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