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Nintendo soars on Pokemon success

Friday, July 8, 2016 - 17:50
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Nintendo soared on Friday as its new smartphone game debuted at the top of gaming charts, but the gains were not enough to prevent Tokyo stocks slipping for a fourth straight session ahead of US jobs data.

[TOKYO] Nintendo soared on Friday as its new smartphone game debuted at the top of gaming charts, but the gains were not enough to prevent Tokyo stocks slipping for a fourth straight session ahead of US jobs data.

The videogame giant rocketed nearly nine per cent to 16,270 yen (S$217.9) its latest foray into mobile gaming was embraced by consumers.

Pokemon GO - which connects a user's real-world location to the game as they try to catch on-screen characters - launched in the US and Australia and was an immediate hit with fans.

In March, the Super Mario maker released Miitomo, its first-ever mobile game, as it moved away from a longstanding consoles-only policy.

Despite Nintendo's rise, investors remained wary at the end of a volatile week dominated by the fallout of Britain's move to quit the European Union.

The US employment figures for June will be scrutinised for clues about the direction of monetary policy in the world's top economy.

Next week, messaging app Line also makes its stock market debut and New York.

AFP

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