Gou's announcement created a market boom for Foxconn.
The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company’s building in Taipei, Taiwan.
Foxconn in a statement on Tuesday said Gou would remain chairman, though he planned to withdraw from his company’s daily operations. “If Gou runs for the election, the market may draw parallels to the rally in the US stock market after US President Trump won in 2016,” Chien said, referring to Donald Trump similarly being a businessman before turning attention to the presidency.
“Punters are excited by the news and that boosted the stocks of the group of companies,” said Alex Wong, a director at Ample Finance. However, he said, a correction – when a stock price falls as investors in tandem sell at a profit – could come at any time.
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