Fitipower shares dive after Hon Hai announcement
Hon Hai Precision Industry Co’s (鴻海精密) decision to reduce its stake in Fitipower Integrated Technology Inc (天鈺科技) by selling 9.09 million shares yesterday sparked a plunge in the integrated circuit designer’s stock. Fitipower shares dropped 7.87 percent to NT$216.5 in Taipei trading, the lowest since Dec. 8 last year. They have declined 23.23 percent so far this year amid net selling by domestic proprietary traders and investment trust firms. Hon Hai shares ended yesterday flat at NT$104.5. They have edged up 0.48 percent since the beginning of this year. The deal has attra...
Source: taipeitimes.com