LOOK UP: The firm should tap into space travel and colonies, as such businesses are expected to drive growth in tech over the next 20 to 30 years, an expert saidBy Lisa Wang / Staff reporter
Taipei, June 1 (CNA) Shares in Taiwan moved lower Wednesday, as investors locked in their gains from the previous session, amid renewed concerns over inflation, after a spike in international crude oil prices, dealers said.
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 attracted market attention at a time when Hon Hai is extending
Taiwan eyes aerospace, focus on LEO satellites taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
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