Foxconn surprised by stock boost
·12 Oct 2012
Foxconn International Holdings Ltd (FIH), the world’s biggest contract maker of cellphones, said on Friday it was unaware of any reason behind a sharp rise in its stock price.
Shares of FIH, which assembles handsets for the likes of Nokia Oyj, Huawei Technologies Co Ltd and ZTE Corp, rose more than 10 percent earlier in the day, extending a 17 percent gain the previous day.
The rise was attributed to a brokerage report from Daiwa Capital Markets saying that FIH was likely to get iPhone orders soon, even though it does not assemble Apple products now.
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