Japan's videogame publishers got a lift Friday following news of a Sony/Microsoft tie-up to explore innovation in game/content streaming and AI, strong news even for investors who are counting on technological shifts to shape the sector.
They closed higher in Tokyo: Konami (OTCPK:KNMCY) up 3.8%, Bandai Namco (OTC:NCBDY) up 3%, Capcom (OTCPK:CCOEY) up 3.1%, and Square Enix (OTCPK:SQNNY) up 4.5%. Sony closed up 9.9% in Japan; the stock (NYSE:SNE) up 1.9% on NYSE.
The move should expand business opportunities for Sony, Citi says, and might make the market rethink its pessimism on the shares since Google rolled out its anti-console Stadia project.
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