Foxconn's Hong Kong units drop as parent faces China tax probe

Foxconn Interconnect Technology

24/10/2023 03:16

** Shares of Foxconn Interconnect Technology  6088.HK  drop
15.1% to HK$1.01, on course for the biggest one-day pct drop
since debut in July 2017
    ** Stock hits its lowest since Oct. 9; biggest pct loser in
Hang Seng Composite Index  .HSCI  
    ** Foxconn  2317.TW  is facing a tax probe in China, two
sources close to Foxconn confirmed on Monday, saying they
believed it was disclosed by a state-backed paper for political
reasons tied to Taiwan's upcoming elections
    ** Stock of Foxconn's another unit FIH Mobile  2038.HK  drop
15.4% to HK$0.55, lowest since debut in February 2005
    ** Foxconn  2317.TW  shares down 2.2%
    ** Hang Seng Tech Index  .HSTECH  falls 1.6%, Hang Seng
Index  .HSI  declines 1.5%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))