GungHo shares climb ahead of new game launch
TOKYO, Sept 3
TOKYO, Sept 3 (Reuters) - Shares in GungHo Online Entertainment Inc climbed 6.5 percent to 71,000 yen on Tuesday, ahead of the launch of a new mobile game after the market close, traders said.
Tuesday's gains took the GungHo shares to above their 25-day moving average.
The stock has risen 40 percent since hitting a four-month low on Aug. 26, though it is still up 715 percent since the beginning of this year on the back of its successful Puzzles & Dragons game. It had rallied nearly 400 percent in 2012.
Short-selling interest in GungHo eased slightly, albeit remaining high, with 85.41 percent of its stock that is available to be borrowed out on loan as of Aug. 30, down from 92.04 percent on Aug. 23, according to data provider Markit.
GungHo is 33.6 percent-owned by mobile operator SoftBank Corp, which was up 2.7 percent in line with 2.6 percent gain in the Nikkei benchmark.
(Reporting by Dominic Lau; Editing by Matt Driskill)