Nintendo shares spike amid speculation

UPDATE

This afternoon the The Wall Street Journal has confirmed that Nintendo will hold a trade show focusing on the 3DS on September 13.

The event will only be open to media, investors and analysts, rather than the consumers who will attend the Tokyo Game Show.

ORIGINAL STORY

Nintendo has seen a sharp rise in share price after suggestions of a pre-TGS announcement on September 13.

A recent report by Bloomberg has revealed that the Japanese company's shares are at their highest price in three weeks.

The share price rose by 8.4 per cent to ¥13,100, the highest price since July 28.

"Yesterday's invitations from Nintendo for an event on September 13 seems like the main reason for today's jump," Yusuke Tsunoda, an analyst at Tokai Tokyo Securities Co, told Bloomberg.

There have also been rumours of a redesign for the 3DS console, but Nintendo is yet to comment on any of the above speculation.

In July Nintendo announced it was slashing the price of the 3DS handheld from ¥25,000 to ¥15,000 or from $249.99 to $169.99 in the US.