Foxconn International shares slide after worst-ever first-half loss

Reuters News
|
Posted: Aug 27, 2012 9:26 PM
Foxconn International shares slide after worst-ever first-half loss

HONG KONG (Reuters) - Shares of Foxconn International Holdings Ltd (FIH) <2038.HK>, the world's biggest contract maker of cellphones, fell 3.5 percent on Tuesday after it posted its worst-ever first-half net loss due to dismal orders.

The stock was set to open down 3.5 percent at HK$2.78, underperforming the Hang Seng Index's <.HSI> 0.4 percent loss.

FIH on Monday blamed its poor earnings on sluggish orders from key clients such as Nokia Oyj <NOK1V.HE> as a global economic slowdown takes a toll.

(Reporting By Lee Chyen Yee; Editing by Anne Marie Roantree)