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Nintendo extends gains on strong start for new game release, lifting stock from bottom range
Nintendo Co Ltd <7974> extended its gains, outperforming major large-cap stocks amid a broader market decline. The company released "Tomodachi Life: Living the Dream" for the Nintendo Switch on the 16th, with market observers noting a strong debut. The stock had trended lower after reaching a recovery high of 14,435 yen on March 16, hitting a year-to-date low of 8,132 yen on the 13th. "With shares near bottom levels, value-oriented buying emerged easily. However, upside momentum appears capped as margin buying balances trend upward again," noted a strategist at a mid-tier securities firm.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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