Thai protesters vow prolonged rally to force elections

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.

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.

"We believe the red shirts have enough capacity to continue and it could extend into April or May," Kosin said.

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.

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

Although the number has dwindled from a peak of up to 150,000 on Sunday, tens of thousands remain, with the numbers ebbing during the midday heat before swelling again in evening to sing and dance to folks songs, and listen to political speeches.

PREMIER AT MILITARY BASE

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.