Nintendo stocks up on 'bad bank' bailout

Nintendo holds strong with last quarter profits and on the hope the Obama administration's bank bailout will stabilize world markets.

Nintendo Co. is likely to post solid fourth quarter gains, as U.S. stocks rallied on optimism that President Obama's new stimulus package for U.S. banks is sure to pass, reports Reuters news service.

"The bad bank plan has been regarded as a last resort to global credit turmoil," said Mitsushige Akino, who oversees $615 million at Tokyo-based Ichiyoshi Investment Management Co. "It could possibly unlock credit markets and help solve the global financial crisis all at once."

The optimism was shared on the Nikkei stock index (Japan's Top 225) with companies posting solid gains, Nintendo up 4.3% at last close.

Share on Twitter or Facebook

Comments