Nintendo's stock price jumps upon China's suspension of console ban

China suspended its ban on the importation and sale of video game consoles yesterday, and the announcement caused Nintendo's share price to increase by more than 10.7 percent in Japan today, reports Reuters.

Shares of Nintendo stock jumped 10.76 percent to 15,850 yen, while the Nikkei average rose 1 percent. Sony stock also increased in Japan, rising 1.39 percent to 1,825 yen. A Nintendo representative told Reuters that the company's opportunities in China now that the console ban has been suspended are still unclear.

In a statement released earlier this week, China said it would permit "foreign-invested enterprises" to manufacture video game systems inside the free-trade zone in Shanghai and sell them throughout the country, as long as the foreign corporations secured the approval of the Chinese government. China had instituted a ban on consoles in 2000.