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Foxconn International removed from Hang Seng index

Tasha26 (1613349) writes | more than 3 years ago

China 0

Tasha26 (1613349) writes "After the suicides and fatal explosion, the Taiwanese company Foxconn now faces losing its blue-chip status. Falling prices for smartphones, laptops, tablets and other gadgets and rising wages (20%) in China have undermined Foxconn's financial performance. The company lost $220m (£135m) in 2010. Foxconn International will be removed from Hong Kong's benchmark Hang Seng index and be replaced by insurer AIA and nappy maker Hengan. The two new entrants use China both as a source of cheap labour and as a market for their product, a switch which Foxconn is now considering."
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