- Nintendo (OTCPK:NTDOY) shares surged 14% overnight after Tencent (OTCPK:TCEHY) won approval to start selling the gaming giant's Switch console in China.
- Regulators in the southern Chinese province of Guangdong were first to clear the system and the game New Super Mario Bros. U Deluxe.
- Analysts still cautioned that there are still regulatory hurdles to overcome and that the Switch wouldn't be immediately available.
- "Nintendo and Tencent will also need to submit each game for approval in China and ensure the games comply with content regulations," said Daniel Ahmad of Niko Partners. "This too is a lengthy process and means that it will take some time before Nintendo can build up a large library of official games in China."