The Latest Breaking News from Foxconn

According to official data, both manufacturing and services activity have contracted for three straight months.

Dow Jones futures rose early Thursday after major market indexes broke key levels. Tesla kept rebounding after crashing in recent weeks.

China has slashed the number of locations deemed at high risk of wider COVID outbreaks, re-opening locked down areas including one hosting a key factory of an Apple supplier. The number of high-risk areas tumbled to around 4,500 on Monday, official data showed, down 85% from more than 30,000 on…

China has slashed the number of locations deemed at high risk of wider COVID outbreaks, re-opening locked down areas including one hosting a key factory of an Apple supplier.

Futures rose with inflation data due. Tesla China output cuts, Lululemon guidance, and two chip giants' strong results are in focus.

Apple supplier Foxconn's founder Terry Gou had warned China that the government's zero-COVID stance would threaten the position of the world's second-largest economy in the global supply chain, the Wall Street Journal reported.

Analysts are warning of a "bumpy," "zigzagging" recovery since China's COVID cases and deaths will likely spike.

Shenzhen Component Index closed up 0.17%

By 2025, 50% of iPhone production could be in these two countries instead, according to Wedbush tech analyst Dan Ives.