Why Nintendo shares are surging

They're up by almost 30% so far this year

Nintendo's share price has hit its highest level since its Wii-boom in 2008 - it gained 3.2% overnight.

Its stock yoyoed in 2016 after the runaway success of 'Pokemon Go' - an augmented reality mobile game based on the popular Nintendo franchise. Investors were stung when it was revealed that the majority of the income from the game would go to its developers - not Nintendo.

The firm's stock has risen since the launch of its new hybrid console, the Nintendo Switich, which has been a global sell-out since it launched in mid-March.

The company's shares are up by almost 30% so far in 2017 - compared to a 3.7% rise during the same period of last year.

The company hopes to shift 10 million Switch units by the end of this year.

It is also making inroads in the booming mobile gaming market.

It launched Mario Run in conjunction with Apple in late 2016 and it is expected to develop a mobile version of its iconic Zelda action-adventure series.