February 12, 2020 / 5:38 AM / 9 days ago

Shares of Taiwan's Foxconn rise more than 3%

TAIPEI (Reuters) - Shares of Taiwan’s Foxconn rose more than 3% on Wednesday afternoon on news the company aims to resume half of its output in virus-hit China by end of February.

Shares of Foxconn, formally Hon Hai Precision Industry Co Ltd, gained more than 3% in Wednesday afternoon trade, outperforming a gain of 1% in the benchmark index.

The world’s largest contract electronics maker also aims to resume 80% of production in China in March, a person with direct knowledge of the matter told Reuters, citing internal targets set by Chairman Liu Young-Way.

Reporting By Yimou Lee; Editing by Himani Sarkar

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