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'Pokemon Go' helps push Nintendo stock 2.5 times higher

New Switch console expected to further burnish company's growing appeal

"Pokemon Go" in action

TOKYO -- Game giant Nintendo received a massive boost after the debut of "Pokemon Go" in July 2016. Now the company has another hit in its Switch gaming console, keeping shares at eight-year highs and making Nintendo a favorite on the Tokyo bourse.

"Pokemon Go" is a mobile game featuring characters from Nintendo's popular "Pocket Monsters" game series. Jointly developed by Pokemon, a Tokyo-based Nintendo affiliate, and American software developer Niantic, the free game employs location-based augmented reality to let users catch and manipulate virtual monsters that appear in the real world.

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