Nintendo shares climb to two-year high after China lifts console ban
Nintendo shares significantly rose by as much as six percent yesterday, the highest point that they’ve been within the past two and a half years.
The reason? China choosing to temporarily lift their 14 year ban on the sale of game consoles, opening a window for Nintendo to capitalise on the situation to drive sales of their current Wii U and 3DS systems and software.
“Nintendo hasn’t had a catalyst for a long time, so if it can revive [via] the Chinese consumer market then it would be positive,” a Tokyo-based trader explained to Reuters.
Nintendo became the ninth most traded stock on the main board for the day, although the trader believed the company had also benefited from the yen being weaker. Still, it’s positive news for Nintendo, having struggled to find their mark with the Wii U as yet in the wake of fierce competition from Microsoft and Sony.