News Pokemon Go

Shares in Japan's Nintendo Co surged on Friday as consumers flocked to try out its new Pokemon GO smartphone game, raising hopes that the company's long-awaited shift into mobile gaming will pay off.

The game, in which players search out and capture Pokemon characters and do battle with other Pokemon, is free, but it also offers in-app purchases for power-ups and extra items. "It has more (monetisation) than we expected; as users build their Pokémon inventory, spending money becomes needed to store, train, hatch and battle," Macquarie Securities said in a note to clients, adding that purchases so far in Australia were not being driven by big spenders but by a large number of users.