'Red Shirts' pour blood at prime minister's house

REUTERS - Protesters emptied bottles of their blood outside the home of Thailand's prime minister on Wednesday after the government rejected calls for elections, but the opposition campaign was showing signs of flagging.

Despite the fourth day of street rallies in Bangkok, Thai stocks hit a 19-month high and the baht currency raced to its strongest level in 22 months. Investors have been emboldened by the lack of violence and the view that Prime Minister Abhisit Vejjajiva would survive the crisis.

Economists say the central bank will likely bring forward an expected interest rate rise that could have been delayed by unrest. Benchmark five-year bond yields dropped two basis points to 3.53 percent as prices rose.

"The political event does not have as much teeth as expected," said Chakkrit Charoenmetachai, an analyst with Globlex Securities, adding that foreign money should continue to flow into Thai assets if the protest did not end in violence.

But the supporters of ousted premier Thaksin Shinawatra are not letting up in their campaign for new elections.

Automatic transcript welcome back to the nation it's time for file cuts -- anti government demonstrators are in the streets of Thailand's capsule buying Coke for fourth consecutive day -- they're known as the Red shots and they're pushing for the government led by Prime Minister Abbas which touch you ought to step down -- the part six two can dissolve twist would demonstrate to hold their own blood at the Gates of the government's headquarters on Tuesday -- the Knicks you minutes we'll look closer at food the protests is off -- and also what their next move may be off to the blood that scene and simple make sacrifice -- now many of the protesters are supporters of the former Prime Minister's talks in Chennai walks -- who was ousted in a military coup in tea thousand six -- his main support base is among the rural population in Northern Thailand -- but as this report shows their ranks also include other pilots of Thai society Tuesday evening in pain -- the second ultimatum issued to the government has just expired -- Richards are getting ready to launch its second offense our latest solo sickened pledged towards sounds and buy the railroad and something is also remains G will be going -- she's a student who supports the Richards movements James Wood eight they and things and we can end it did -- incomes -- it only against I'm I'm and I'm glad that now he says -- do have a lot of things cool while also obvious in Jintao Saturday Sheehan also on Avenue and maligned doesn't and what me up by eighteen point in time we catch up with the pack of demonstrate traffic is blocked leaving no choice but to continue on to it with Steven with the crowds converging towards the headquarters of the Prime Minister's Democratic party -- the atmosphere is firmly we meet all sorts of some F and and I think that thanks that the crowd gets bigger and bigger pensions spreading out over several Columbus -- security forces were everywhere -- we watch don't in this color or a nurse in students -- people donated their call -- the Prime Minister's headquarters pursuing some we months and the suffering of the people of this despite solid sheets in Sydney both sentence support within now people strong I wanted to win -- as night falls on Bangkok of Richard's blood protest is about to begin far from last year's scenes of chaos -- Thailand's Richards may have proven once it now become a full fledged political force of their own -- that could have an influence on the country's future right joining me now for more is Antonio Ferrara from the national University of Singapore -- he's old there of a book on Thai politics cold Thailand on pinched -- also with us today we have our own correspondent Nelson round who's in call can if we start with you Nelson -- if we look at a make up all the protest as you get the impression from the reports that there are people from all walks of life NASA students and businessmen as well -- is the after picture yes it is certainly the movement is not just about taxing -- yes he is the figurehead leader yes the vast majority of the people support taxing -- but the movement has also attracted a large following of people who are genuinely angry at the U turn the Thai politics has taken over the past several years -- they're angry at the military two of two thousand six -- there's people that I genuinely believe that Thai democracy is being undermined by powerful unelected figures -- know at the height of this current protest on Sunday those probably between a hundred and a hundred and fifty thousand red shirt protesters out on the street -- but the movement support base is much much greater than that last year the movement collected three point five million signatures -- in an effort to get a royal pardon for tax and -- some people call it the largest pro democracy forces in Asia -- yes it is pro attacks in -- but they're larger campaign is to really see a change in Thai society -- and bring an end to Thailand's long standing elite -- bureaucratic rule if we go over to Antonio there in Singapore what's your take on this well one of the grievance is all of these protesters with the government why do they want the government to to step down well I think the main problem that everybody can agree with this that at least within the movement is that the current government came to power of through means that are of dubious legitimacy -- so all of them want the current Prime Minister to resign but most of most components of the movement have an agenda that goes way beyond that as your correspondent mentioned -- some people wanna bring back tucks into a position of power he occupied legitimately -- after winning two elections with President of margins -- and other people still want Thailand to embark finally on on a process to genuine democracy action and to finally get these unelected institutions like the military -- and the pretty council out of politics once and for all Antonio from your perspective how long could these protests continue -- we're hearing today the the protest numbers have dwindled to the that this Wednesday -- do you think that this movement is running out of steam I think the demonstrations in their current form -- are not likely to last more than a few more days but whether or not they achieve their short term girl goals -- I think we can expect this movement to continue its struggle for monster com -- if not years if you go over to Nelson by Coke again -- what's next hit for these for these protesters and for this protest movement well organizers planning at this stage well the protest leaders have yet to announce what their next stage will be -- they have insisted throughout these protested that -- as long as the government doesn't meet their demands and step down the table -- that step up their campaign -- but certainly it does appear that the are losing steam -- the numbers are dwindling significantly -- and the worry now is that their numbers dwindle and as they leave scheme perhaps they will be trying more up provocative or daring tactics -- egg and at with the numbers dwindling now it's more of a hard core supporters left so there is concern that perhaps it if they do step it up and try more provocative tactics that they could turn violent Nelson what about the army and how is entering into this equation is so far the army has moved -- the stayed on the sidelines this their arrest perhaps the army could could step into this funding at the moment -- the Prime Minister I do that did you -- he has the strong backing of the military -- and that is essential for his government to survive in at this point -- it appears that the military will keep backing happy said -- and that is again a crucial for his government to survive and as long as the military is backing him -- it is unlikely that he will meet that the demands of the protesters and step down if recall on notes to Antonio in Singapore again -- G think that the army will keep backing Mr. Abbas that gather -- there were some rumors in over the past couple of months that the army might have been considering staging a cool but -- I think under the circumstances -- their continued support for obviously it is to be expected in the sense that Abi it puts a rather benign face too what is for all intents and purposes an authoritarian regime -- and so whether or not he's been as a certain as they would like him to be I think he's their best bet for the time being -- all right thanks very much and Tony for our error joining us that from Singapore also a big thanks to Nelson Bryant -- who is with us for all the time capsule without we're gonna wrap up focus now hit Paul Stein kept stay with us more news coming your way in just a moment FRANCE24 Focus - 'Who are Thailand's Red Shirts?'

Thousands of the "red shirt" protesters gathered outside the United States embassy demanding clarification of comments by Thailand's deputy prime minister who said the Thai government had received U.S. intelligence of possible sabotage during the rally.

Honking horns, singing folk songs and waving red flags, protesters also converged on Abhisit's house in an affluent Bangkok neighbourhood where they emptied bottles of their blood on the gates and fences amid pouring rain.

"We have accomplished what we came to do. We have washed Abhisit's house with the blood of the common people to express our wish," said protest leader Nattawut Saikua, as thousands of supporters rattled their plastic clappers.

Protesters say the splashing of blood was a "symbolic sacrifice for democracy". It is also a bid to re-energise a peaceful movement that appears to be waning.

Fatigue

Some "red shirts" were showing signs of fatigue after days on Bangkok's streets. Of up to 150,000 demonstrators who massed on Sunday night, many had left. Police say about 40,000 remained on Wednesday, still large compared to past protests.

The threat of sporadic violence remains but a clash looks increasingly unlikely. Abhisit has not stayed at his home since Friday and has instead taken refuge at a military base, keeping a low profile. He went to the drought-afflicted north on Tuesday and left the capital on Wednesday for a funeral.

Despite fiery rhetoric by demonstrators on how the mainly rural "red shirts" have been marginalised by the military, urban elite and royalists who back Abhisit, some expressed frustration about the rally's lack of impact and clear direction.

"I am not sure we will win this time, especially without any real bloodshed," said Pitaya Boonkum, a Bangkok taxi driver from northeastern Roi-et province.

"Red shirt" leaders, however, lauded the big show of non-violent support as a victory for their movement. "We have put concepts of class differences and double standards into the public's mind," Weng Tojirakarn, a protest leader, told Reuters.

He said the group has not decided what the next move will be.

The twice-elected Thaksin was ousted in a military coup in 2006 and later sentenced in absentia to two years jail for graft. He fled into exile shortly before his sentence was passed and lives mainly in Dubai, but is now thought to be in Europe.

A drop in numbers may force the leaders to start looking for ways to end the rally in the near future.

"It's tricky for them. They have to do it in a way that does not embarrass the leaders and disappoint participants too much because that could undermine their credibility among their own supporters," said political scientist Somjai Phagaphasvivat.

"But in the long term, (keeping the rally peaceful) helps their image, especially among the public who are on the fence -- people who agree with their cause but have been reluctant to join because they do not support Thaksin and disagree with violence."