Japan: Stocks Rally on Obama Victory

Nintendo stocks are up 11% on hopeful American president-elect.

Japanese stocks extended a record rally from a 26 year low on the hope U.S. president-elect Barack Obama will take steps to spur economic growth and on a rise in commodities, reports Bloomberg News.

"Bush is basically a lame duck at this point, so the confirmed selection of Obama is positive because it makes it easier to hammer out new economic policies," said Gentoku Kiyokawa, director of Fortis Investments in Tokyo.

Nintendo, which depends on overseas sales for 80% of its revenue, rose 11% to 36,300 yen in Osaka trading.

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Comments

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  Isn't this a little stretched for being video game news?

  LeSomeGuy, 30-11--0001 at 00:00
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  We've been covering the flux of Nintendo capital for some time, so no.

  LesThom, 30-11--0001 at 00:00