Hon Hai shares fall following profit warning
In addition to the impact of a disappointing sales outlook given by Apple Inc., shares of Hon Hai Precision Industry Co., which assembles iPads and iPhones, encountered more pressure Thursday following a profit warning from its Hong Kong-listed subsidiary, Taiwan's official Central News Agency reported, citing dealers.
Investors feared that losses to be incurred by the subsidiary -- Foxconn International Holdings Ltd. (FIH) -- for 2012 will erode Hon Hai's bottom line, they said. Currently, Hon Hai owns about 70 percent of FIH.
Shares of Hon Hai closed down 2.94 percent at NT$82.50 (US$2.84) that day, while the weighted index on the Taiwan Stock Exchange ended down 0.62 percent at 7,695.99 points, the news agency said.