(Yicai Global) April 18 -- Stocks connected with electronics giant Hon Hai Precision Industry, widely known as Foxconn, surged after founder Terry Gou said he plans to make a bid to lead the Chinese province of Taiwan.

Shares of Foxconn Industrial Internet [SHA:601138] jumped 9.5 percent to close at CNY19.44 (USD2.90) after gaining by the 10 percent daily limit yesterday. Hon Hai subsidiary FIH Mobile [HKG:2038] rose 6.4 percent to HKD1.50 (19 US cents), and has soared more than 60 percent so far this week.

Billionaire Gou, who is also chairman of Taipei-based Hon Hai, made a surprise announcement yesterday that he would take part in primaries to lead the opposition Kuomintang Party into next year's leadership election. At the start of this week, Gou had said he planned to step back from day-to-day operations at the major assembler of Apple iPhones.

Hon Hai itself [TPE:2317] ended the day little changed at TWD91.60 (USD2.97) after earlier gaining as much as 3.4 percent.

Editor: James Boynton