News

On their fifth day on Bangkok''s streets, the red-shirted protesters called for a "class war" and threatened to make life unbearable for Prime Minister Abhisit Vejjajiva after splashing blood on the gates of his home and office, forcing him to sleep in a military base and preventing him from attending parliament.

The protesters, supporters of ousted premier Thaksin Shinawatra, say they have been marginalised by the military, urban elite and royalists who back Abhisit. They said they will ride across Bangkok on Saturday in pick-up trucks and motorcycles in an attempt to convince others to join them.

''Peaceful rally''

Relieved by the lack of violence and confident Abhisit will survive the showdown, investors have poured into Thailand''s financial markets, driving the baht currency to a 20-month high and pushing stocks near 22-month peaks this week, although shares retreated slightly on Thursday.

"The rally is peaceful without violence, making investors dare to invest," Finance Minister Korn Chatikavanij told reporters, noting Thai stocks were already climbing before the protests, gaining 63 percent last year. But Kosin Sripaiboon, head of research at UOB Kay Hian Securities in Bangkok, predicted the protests could last weeks, possibly into May, urging investors to remain cautious.

"It will be the beginning of a class war," Nattawut Saikua, a protest leader, told reporters.

Premier at military base

Abhisit, an Oxford-educated economist who came to power at the end of 2008, has operated since Friday from a fortified military base that has doubled as a safe house.

While Abhisit is still backed by the military and a majority in parliament, a prolonged protest could start to undermine his leadership if he is seen to be failing to resolve the impasse or his ability to govern is hampered.

The National Human Rights Commission met on Thursday with Abhisit in a bid to defuse tension and get the two sides to talk.
"If the protests are within the rules, the government has no problem with a talk," Abhisit told a news conference. But he declined to say whether there are plans to begin negotiations.

Not the first time

Lengthy rallies in Bangkok are not unusual. In 2008, protesters who opposed Thaksin''s allies in the previous government occupied the prime minister''s office for three months, and then blockaded Bangkok''s international airport until a court ousted the government.

But Sukhum said the "red shirts" look less organised.

"It''s different from the anti-Thaksin movement which was more disciplined with one clear direction and one arch nemesis."