|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||41.60 - 44.18|
|52 Week Range||31.38 - 54.48|
|Beta (3Y Monthly)||1.85|
|PE Ratio (TTM)||30.13|
|Forward Dividend & Yield||0.37 (1.04%)|
|1y Target Est||73.46|
Tencent received approval for the test version of New Super Mario Bros. U Deluxe for the handheld device, according to a notice on the website of China’s Guangdong provincial culture and tourism department. A Nintendo spokesman confirmed that Tencent had applied for the sale of Switch hardware, but could not comment specifically on the Guangdong approval, saying it was just one part of the entire process. Nintendo’s stock surged 14 percent, the most since July 2016 at the height of the Pokemon Go frenzy.
Japan's Nikkei rose on Friday as investors snapped up cyclical stocks, while Nintendo jumped after Tencent won approval to sell its Switch console in China. Shares of Nintendo Co soared after China's Tencent won a key approval to begin selling Nintendo's Switch console in China, the world's largest games market.
Shares in Nintendo soared over 15.5 per cent to a six-month high in early trading in Tokyo on Friday on the prospect that the maker of Super Mario could begin selling its Switch video-gaming console in China for the first time. On Thursday, after navigating a long and complex negotiation with the authorities in Guangdong province, China’s Tencent won a landmark approval that would, in theory, allow it to sell the Switch machine throughout the world’s largest games market. Nintendo has remained wary of the Chinese market since Beijing lifted its ban on sales of foreign games consoles in 2014, but the sheer global power of its most famous characters — a pantheon that includes Mario, Zelda and Donkey Kong — means they are already widely recognised and loved.
Japan's Nikkei rose on Friday morning as Wall Street gains raised risk appetite and lifted cyclical stocks, while Nintendo jumped after Tencent won approval to sell its Switch console in China. The U.S. market rose supported by robust economic data, while industrial stocks rallied after China's commerce ministry spokesman said there had been new progress in U.S.-China trade talks. "The mood has recovered as the market has been able to confirm that a slowdown in the Chinese economy has hit the bottom and the U.S. and China are making progress in their trade talks as those were the market's main concerns," said Takashi Ito, an equity market strategist at Nomura Securities.
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. 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. U Deluxe" game.
Nintendo has partnered with Tencent to bring the Switch console to China. Nintendo shares surged on the news as investors hope it can work with Tencent to find success in the world's largest gaming market. Analysts cautioned that there are still regulatory hurdles to overcome and that the Switch wouldn't be immediately available.
BEIJING/TOKYO, April 18 (Reuters) - China's Tencent has won a key approval to start selling the Nintendo Switch in the country, paving the way for the console to enter the world's largest video games market two years after it was first released worldwide. Authorities in the southern Chinese province of Guangdong gave the green light on Thursday to Tencent Holdings to distribute the Nintendo Switch console with a test version of the "New Super Mario Bros. U Deluxe" game, a statement on the government's website showed.
April 18 (Reuters) - Nintendo Co Ltd: * NINTENDO SPOKESMAN SAYS TENCENT HAS APPLIED TO CHINA'S GUANDONG PROVINCIAL AUTHORITY TO BEGIN SALE OF NINTENDO SWITCH CONSOLE Further company coverage: (Reporting ...
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