BYD Electronic International Co. has risen on strong earnings as well as expectations for its auto and smartphone component businesses. The company recently announced plans to buy Jabil Inc.’s manufacturing business in China, and the market may also begin to “factor in the inorganic growth opportunity,” Citigroup Inc. analyst Andre Lin wrote in a note.
The stock tops the Hang Seng Tech Index in August, with all but two of the gauge’s 29 other members in the red after a month of volatile moves as investors assessed Beijing’s incremental stimulus for the flagging economy.
