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A supporter of former premier Thaksin Shinawatra performs a religious ritual in the pool of human blood poured in front of the Democrat Party headquarters in Bangkok - Source: Reuters -
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Anti-government protesters poured bottles of their own blood
outside the Thai prime minister's office, a "sacrifice for
democracy" after demands for elections were rejected.
Hoping to re-energise a movement waning after four days of peaceful
protests, supporters of ousted premier Thaksin Shinawatra gathered
at a heavily guarded Government House to splash 300 litres of their
blood at the gates.
The government showed no sign of heeding pressure to call polls,
which Thaksin's allies would be well placed to win.
The absence of violence and a growing view that Prime Minister
Abhisit Vejjajiva, with the backing of the military, can ride out
the crisis was a key factor helping lift Thailand's stock market
2.4% to a two-month high.
Despite political tensions, foreign investors have been buyers of
Thai stocks for the past 15 sessions, scooping up a net $1.2
billion over that period, although volumes slowed this week.
"If we can get past this week, things should return to normal,"
said Patareeya Benjapolchai, president of the Stock Exchange of
Thailand.
That message was reinforced by US investment bank Morgan Stanley,
which upgraded its recommendation on Thailand's stock market to
overweight in a note to clients.
At the rally site, some "red shirts" dwelled on their failure to
achieve their goal as others withered under Bangkok's scorching
sun.
Of the 150,000 demonstrators who had massed on Sunday night,
many had left. Police say about 30,000 remained.
"We will continue. The people will decide how long we will stay,"
Weng Tojirakarn, a protest leader, said.
"This is certainly a success. We have put concepts of class
difference and double standard in the public mind."
Throughout the day, red shirts lined up under a tent to give 10
cubic cm of blood to medical volunteers and nurses, which was
paraded on stage in 5-litre bottles after their symbolic shedding
of blood.
About 2,000 soldiers and police guarded Abhisit's office as
protesters watched a priest in white perform a ritual to curse the
premier.
"When the picture of this reaches Abhisit, won't he be just a
little bit ashamed of himself?" asked 76-year-old Rung
Suramanee.
Signs of frustration
Despite days of 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.
"We have spilled blood. What's next? I am not sure where this is
going. I have faith in the 'red shirts' but I am not sure we will
get anything without shaking things up a bit," said Chanchai
Thiangsomboon, a farmer from northeastern Kalasin province.
Fears of violence briefly surfaced on Monday when three grenades
exploded at a Bangkok army base, wounding two soldiers. It was
unclear whether the attack was linked to the
rally.
Waning numbers could also push some frustrated protesters to
step up the fight, risking a confrontation with authorities.
Economists say prolonged unrest could hurt businesses and delay an
expected interest rate rise.
That looks less likely given the orderly protest, although Bank
of Thailand Assistant Governor Paiboon Kittisrikangwan said the
bank will consider politics when it next reviews rates.
Worries about the political situation helped depress consumer
confidence in February, after months of improvement as the economy
recovered from a brief recession.
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, although thought now to be in Europe.
Core red shirt leaders echoed Thaksin's recent calls for patience
but analysts said a drop in numbers may force the leaders to start
looking for ways to end the rally for now.
"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, it would help 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."
Asked if he was ready to talk to the protesters, Abhisit told
reporters at a military base where he has been using as a command
centre: "If they want to exchange ideas ... I am willing to listen,
but I have to decide on the basis of the whole country."
His deputy, Suthep Thaugsuban, said the government remained
vigilant with continued intelligence about security threat.
Critics have accused the government of fearmongering.
Allies of Thaksin remain hugely popular in the vote-rich north and
northeast and will likely to win the next election, which must
called by the end of 2011.
