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Nintendo Soars as Tencent Wins Switch Game Approval in China

  • Nintendo shares surge 14 percent; most since July 2016
  • Chinese gamers historically have shunned console games

Photographer: Kazuhiro/AFP via Getty Images

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Nintendo Co. shares jumped after China’s Tencent Holdings Ltd. won approval to distribute one of the company’s games for its Switch console, a sign the Japanese company may benefit from growth in the world’s largest games market.

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.