Asian Markets: Shares rise as Apple manufacturer Foxconn adds a new Chinese factory
In Hong Kong today the Hang Seng Index rose 1.2 percent to close at 22,200. In Japan the Nikkei Index shed 0.2 percent, ending the day at 10,237, and in China, the Shanghai Composite Index gained 2.1 percent finishing the trading session at 3,038.
In Hong Kong, shares in Foxconn International Holdings Ltd. (FXCNF) rocketed 9 percent on the announcement that its major shareholder, Taiwanese Hon Hai Precision Industry Ltd., is planning to build a $1 billion factory in China, according to Bloomberg. Foxconn and Hon Hai manufacture products for Apple, Dell, Sony and other major consumer electronics products including Motorola cell phones and Amazon's Kindle. Could this new plant be setting up to manufacture the fabled Apple Tablet?
