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Foxconn shares suspended due to 'major announcement'

Shares in Hon Hai Precision Industry, also known as Foxconn, will be suspended from trade tomorrow
Shares in Hon Hai Precision Industry, also known as Foxconn, will be suspended from trade tomorrow

The Taiwan Stock Exchange said today that shares in Hon Hai Precision Industry, also known as Foxconn, will be suspended from trade tomorrow due to a "major announcement". 

The stock exchange did not elaborate. 

It said that along with Hon Hai, trading will also be halted in shares of affiliate Foxconn Technology. 

A trading halt is customary for listed companies in Taiwan ahead of announcements which may affect trading. 

Hon Hai has said it is due to hold a regularly scheduled board meeting tomorrow. 

Japan's Sharp and Foxconn are set to sign a merger deal this week after repeated delays.

The two sides are set to agree on a smaller bailout than originally planned for the troubled Japanese electronics maker, two sources familiar with the talks said over the weekend.