Nintendo shares soar over 16%, extending Pokemon Go-fuelled rally

Pokemon Go fans in Los Angeles, United States, one of the first countries to have the mobile game.
Pokemon Go fans in Los Angeles, United States, one of the first countries to have the mobile game. PHOTO: AFP

TOKYO (AFP) - Nintendo skyrocketed in Tokyo on Thursday (July 14) as its new smartphone game Pokemon Go picks up legions of fans globally, and investors cheer the firm's move into mobile gaming.

The shares, which had soared more than 50 per cent since the game's release last week, jumped 16.6 per cent to 25,460 yen ($244) by the break.

The expectation is that Pokemon Go's success will contribute to the success of Nintendo's other original games, and even to the success of its next game console," SMBC Nikko Securities analyst Eiji Maeda told AFP. But "the share price is reaching its upside limit".