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Nintendo's market value outranks Sony's

Michelle Avenant
By Michelle Avenant, portals journalist.
Johannesburg, 19 Jul 2016
The runaway success of mobile game Pokémon Go saw Nintendo stocks soaring.
The runaway success of mobile game Pokémon Go saw Nintendo stocks soaring.

Nintendo's market value now outranks that of Sony's, as its value traded at $42.9 billion in Tokyo today, surpassing that of Sony.

In the wake of the runaway success of mobile game Pokémon Go, which was released on 6 July, the gaming console company saw its largest weekly gain, of 71%, last week.

Nintendo also broke Tokyo's single-day trading record for this century on Friday, as around $4.5 billion worth of stock changed hands.

Other companies are benefiting from the ripple effects of Pokémon Go's wild popularity. McDonald's Japan's shares jumped 23% on Tuesday - its largest daily gain since listing in July 2001 - after it started giving away Pokémon-theme toys with its happy meals.

Third-party apps are also emerging around the game, for example Poke Radar and Helper for Pokémon Go, which help users determine the exact location of Pokémon, as Pokémon Go itself only offers vague hints.

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