Shares of Thai auto parts companies fell sharply on Thursday following reports that Japanese automaker Isuzu Motors would relocate its factory in Thailand to Indonesia.
Indonesian Industry Minister Agus Gumiwang Kartasasmita had said on Wednesday that Isuzu could start production in Indonesia as early as next year. But Isuzu on Thursday denied any such plans.
Prices of AAPICO HiTech, an automotive parts manufacturer that makes the chassis frames for the Isuzu pick-up model, fell 12% in morning trade on the Stock Exchange of Thailand (SET) against a market index gain of 0.11%.
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