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Business 05 Nov 2012 | 12:00 AM Premium

Foxconn International surges 35% as Citi report lifts iPhone hopes

HONG KONG: Shares of Foxconn International Holdings Ltd (FIH), the world's biggest contract maker of cellphones, surged as much as 35% after Citigroup upgraded the stock to a 'buy' and said it expected the firm to start assembling iPhones this year.