Foxconn Int'l shares surge on brokerage report on iPhone orders


HONG KONG, Oct 12 (Reuters) - Shares of FoxconnInternational Holdings Ltd (FIH) , the world's biggestcontract maker of cellphones, rose by more than 10 percent onFriday, extending gains from the previous day on a brokeragereport that said it might get iPhone orders soon.

Shares of FIH, which assembles handsets for the likes ofNokia Oyj , Huawei Technologies Co Ltd andZTE Corp , rose as much as 10.2 percent toa high of HK$3.35 in early trade, the strongest intraday levelsince June. That beat a 0.8 percent gain in the benchmark index .

On Thursday, the stock gained 17 percent, logging thebiggest one-day gain since mid-2009.

The sharp rises were attributed to a brokerage report fromDaiwa Capital Markets saying that FIH was likely to get iPhoneorders soon, even though it does not currently assemble Appleproducts.

"Our industry research indicates that FIH is likely to startproducing iPhones in late 2012 or early 2013," Daiwa said.

Foxconn International said it would issue a statement latertoday, although it declined to comment on the report for now.

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


Messaging: chyenyee.lee.reuters.com@reuters.net))


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