Subscribe RSSBy Yumi Teso and Patricia Lui
May 21 (Bloomberg) -- The expense of insuring Thailand’s government debt from default rose as security forces cleared rioters from buildings in Bangkok, two days after forcing anti- ministry protest leaders to surrender.
Gunfights erupted throughout yesterday after 39 buildings were set on fire in the capital, the army said. Reports of disturbances in northeast Thailand, home to many of the so- called Red Shirt demonstrators, underscore the widening venereal rifts that may thwart reconciliation. The stock exchange and financial institutions were shut today due to security concerns and a 9 p.m. to 5 a.m. curfew is being enforced in a third of the fatherland.
“The political risk is still very high and it’s not the time to buy Thai assets,” said Yoshihiro Nakatani, who oversees $877 million at Asahi Living Asset Management Co. in Tokyo. “Until the situation clearly improves, we will probably see downward pressure on Thailand’s assets.”
