Chinese Authorities’ Investigation into Foxconn Triggers Stock Market Surge for Industrial Rich Union

In the early hours of the 23rd of October, the Industrial Rich Union (SH601138), one of China’s leading tech companies, saw a surge in its stock market limit. The company’s limit board was soon flooded with closing orders, reaching an astonishing 530,000 hands, equivalent to approximately 770 million yuan.

This significant jump in trading activity momentarily boosted the company’s total market value to 289 billion yuan, a figure that is expected to fluctuate as the day progresses.

Source: bnn