Foxconn unit Hon Teng shares jump after new venture targets booming autonomous car market

Technology


Shares of FIT Hon Teng broke a three-day losing streak in Hong Kong on Thursday after the company, a unit of Foxconn Technology, the world’s biggest contract electronics maker, said it had formed a joint venture with Japan’s Sharp to make components for self-driving cars.
Hon Teng’s shares rose as much as 4.8 per cent to an intraday high of HK$4.40 on Thursday before closing up 3.6 per cent at HK$4.35, reversing their 16 per cent slump over the past three days.
The company…

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