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Thai shares dip amid coup rumours | Thai shares dip amid coup rumours |
(30 minutes later) | |
Thailand's stock market has fallen for the fifth trading day in a row, amid ongoing anti-government demonstrations and rumours of a military coup. | Thailand's stock market has fallen for the fifth trading day in a row, amid ongoing anti-government demonstrations and rumours of a military coup. |
Activists accuse PM Samak Sundaravej of changing the constitution to protect his predecessor Thaksin Shinawatra. | Activists accuse PM Samak Sundaravej of changing the constitution to protect his predecessor Thaksin Shinawatra. |
Army chief Gen Anupong Paochinda said the military would not intervene in the dispute and denied rumours a repeat of the 2006 coup was imminent. | Army chief Gen Anupong Paochinda said the military would not intervene in the dispute and denied rumours a repeat of the 2006 coup was imminent. |
The army would "not use force against the people," his spokeswoman said. | The army would "not use force against the people," his spokeswoman said. |
Shaky investor confidence | Shaky investor confidence |
But investor confidence remained shaky and the Bangkok stock exchange dipped 2.8%, adding to the 4.8% fall it suffered last week in its biggest weekly decline since just before the last coup. | But investor confidence remained shaky and the Bangkok stock exchange dipped 2.8%, adding to the 4.8% fall it suffered last week in its biggest weekly decline since just before the last coup. |
Finance Minister Suraphong Suebwonglee told reporters: "I have to admit that the problems over the past week have affected confidence." | Finance Minister Suraphong Suebwonglee told reporters: "I have to admit that the problems over the past week have affected confidence." |
Protesters took to the streets for an eighth day on Monday to demand Mr Samak's resignation. | Protesters took to the streets for an eighth day on Monday to demand Mr Samak's resignation. |
One of the protest leaders said the demonstrators would defy a government request to leave their positions near the United Nations building in Bangkok. | One of the protest leaders said the demonstrators would defy a government request to leave their positions near the United Nations building in Bangkok. |
On Sunday, the prime minister backed away from a threat he had made a day earlier to send in the police and military to clear protesters off the streets. | On Sunday, the prime minister backed away from a threat he had made a day earlier to send in the police and military to clear protesters off the streets. |
The military removed Mr Thaksin in 2006 after months of unrest by demonstrators who accused the former prime minister of corruption and destroying democracy in Thailand. | The military removed Mr Thaksin in 2006 after months of unrest by demonstrators who accused the former prime minister of corruption and destroying democracy in Thailand. |
Samak Sundaravej won election last December | |
Mr Samak, whose party won a general election last December, is widely seen as a proxy for Mr Thaksin. | Mr Samak, whose party won a general election last December, is widely seen as a proxy for Mr Thaksin. |
After months of exile, Mr Thaksin returned to Bangkok earlier this year to face corruption charges against him and his family. | After months of exile, Mr Thaksin returned to Bangkok earlier this year to face corruption charges against him and his family. |
The BBC's Jonathan Head in Bangkok says Mr Samak wants to modify last year's constitution and remove clauses that curb the power of elected governments. | |
But his opponents suspect him of attempting to pave the way for a comeback by Mr Thaksin. | |
The poor performance of Mr Samak's unwieldy coalition has not helped his cause with the public, says our correspondent. | |
Opponents of the government fear Mr Thaksin wants to weaken the position of the monarchy, he says. | |
Last week a minister close to Mr Thaksin was forced to resign after being accused of insulting the monarchy. | |
Our correspondent says it is a potent charge in a country beset by anxiety over the succession to King Bhumibol Adulyadej, who has been on the throne for six decades. |