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5 Asian stocks massacred by coronavirus that should rebound

UNITED STATES (OBSERVATORY NEWS) — The spread of the coronavirus epidemic has disrupted markets in Asia and elsewhere, and affected supply chains around the world.

Multinational and local companies have been affected by the prolonged closure of factories in China, which have still not resumed production at full speed.

Apple (NASDAQ: AAPL ) warned last week that it did not expect to meet its quarterly revenue forecast due to the lower global supply of iPhones and lower demand in China. Apple manufactures most iPhones and other products in China, and the epidemic caused it to temporarily stop production and close retail stores in China.

This led to the liquidation of shares of Apple suppliers in Asia last week, and more generally of technology stocks linked to chips and electronics.

In this turbulent environment, particularly in Asia, Credit Suisse highlighted five regional technology stocks that plunged from their highs of the year and tried to predict their upside potential. You will find these titles below (performances announced on February 27 at the close): 1. Foxconn Technology Co Ltd (TW: 2354 ), and the largest subcontractor of Apple, is listed in Taiwan

Decrease compared to the 2020 peak: -12.13%.
Increase potential according to Credit Suisse (SIX: CSGN ): 22%.

2. Sunny Optical Technology Group Co Ltd (HK: 2382 ), listed in Hong Kong, is also a supplier of Apple

Decrease from the 2020 peak: -12.21%.
Increase potential according to Credit Suisse: 21%.

3. The chip supplier MediaTek Inc (TW: 2454 ), listed in Taiwan

Decrease compared to the 2020 peak: -15.06%.
Increase potential according to Credit Suisse: 20%.

4. ASE Industrial Holding Co Ltd (TW: 3711 ), listed in Taiwan, is a leading company in the field of chip testing and packaging

Decrease compared to the 2020 peak: -12.07%.
Increase potential according to Credit Suisse: 12%.

5. Electronics manufacturer Delta Electronics Inc (TW: 2308 ), listed in Taiwan

Decrease from the 2020 peak: -6.88%.
Increase potential according to Credit Suisse: 13%.

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