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Nintendo shares surge on Pokemon mobile game hopes

Monday, July 11, 2016 - 09:27
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Shares of Japan's Nintendo Co soared more than 20 per cent in early Tokyo trading on Monday, extending last week's gains, on hopes that the popularity of its new Pokemon GO smartphone game will boost its results.

[TOKYO] Shares of Japan's Nintendo Co soared more than 20 per cent in early Tokyo trading on Monday, extending last week's gains, on hopes that the popularity of its new Pokemon GO smartphone game will boost its results.

Pokemon GO was launched in the United States last week and shot to the No 1 free app in Apple Inc's US iTunes store. It was also launched in Australia and New Zealand, and is expected to be rolled out in Japan soon.

Nintendo shares were up 23.5 per cent at 20,085 yen (S$268.37) each after earlier rising as high as 20,190 yen, their highest since November.

REUTERS