China cancels 12-year ban on game consoles: Sony Nintendo shares rally

http://www.aliyun.com/zixun/aggregation/17197.html "> Beijing time January 28 Noon news, Sony and Nintendo share prices rose sharply after China Daily said the Chinese market would cancel the 12-year ban on gaming machines.

Sony's share price rose 8.8% to 1404 yen in Monday, its highest since April 2012, while Nintendo Rose 8.2% to 10,070 yen, a record high since August 2011.

China launched a game ban in 2000 because of fears that it could harm youngsters ' physical and mental development. But the China Daily quoted unnamed sources as saying the Ministry of Culture was negotiating with other ministries to lift the ban.

"Investors are bullish on the story," said Mitsuo Shimizu, analyst at Iwai Cosmo, a Tokyo investment company. This will open up new markets for video game makers. ”

He believes Nintendo, Sony and other Japanese companies will also benefit from the yen falling to a 2.5 low. A lower exchange rate will increase the value of overseas earnings after they are converted into yen.

China Daily said that the Chinese game ban was issued jointly by 7 major parts in 2000, and that the ban would need to be unanimously approved by the 7 departments. A spokesman for the ministry declined to comment. Sony has not yet sold PlayStation consoles in China, and Nintendo has yet to respond.

The current game consoles in the Chinese market are sold through the black market. Tablets and smartphones, such as Apple's ipad and iphone, can be sold legally at home.

Eiichi Katayama, an analyst at BofA Merrill Lynch, raised the Sony stock rating to "buy" and raised its target price from 980 yen to 1850 yen, amid bullish yen weakness and the prospect of an unprofitable business recovery. (Ding Macro)