Tokyo shares end higher as Nintendo soars on China report

The Nintendo booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California June 13, 2017. — Reuters pic
The Nintendo booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California June 13, 2017. — Reuters pic

TOKYO, April 19 — Tokyo stocks closed higher today following healthy gains on Wall Street, with Nintendo jumping more than 14 per cent on reports its games and popular Switch console will soon be available in China.

The benchmark Nikkei 225 index added 0.50 per cent, or 110.44 points, to 22,200.56, while the broader Topix index climbed 0.12 per cent, or 1.96 points, to 1,616.93.

The market stayed comfortably within positive territory throughout the day, initially lifted by strong gains in overseas markets.

But a lack of fresh clues and the closure of several major international markets for Easter prompted position adjustment and profit-taking in the afternoon session, said Okasan Online Securities in a commentary.

“After an initial round of buying subsided, (the Nikkei index) became trapped inside a narrow range around 21,200,” Okasan said.

“In the afternoon session, profit taking became more pronounced, as Hong Kong shares turned weaker while the US dollar drifted within the 111 yen range.

“Only few investors were chasing the higher end of the market since major foreign markets are entering a break through Monday,” it said.

Wall Street shares finished modestly higher yesterday following a batch of mostly solid corporate earnings and a successful market debut of technology company Pinterest.

The US dollar stood at 111.91 yen in Asian trade, slightly slipping from 112.00 yen in New York overnight.

Tokyo investors are gradually preparing themselves for a special 10-day holiday from the end of the month for an upcoming imperial succession.

The Tokyo Stock Exchange will be closed from April 27 through May 6. Trading will resume from May 7.

Among major gainers today, Nintendo jumped 14.12 per cent to 39,200 yen (RM1,452.90) following media reports that its popular Switch game console and game titles will become available in China via tech giant Tencent.

Sony rose 0.60 per cent to 5,331 yen while Uniqlo operator Fast Retailing added 2.09 per cent to 64,590. — AFP

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