Thailand's anti-government protestors are trying to "shut down" the capital until they oust the government, but it isn't clear their tactics are living up to the hype.
"We talked to a few (corporate clients) yesterday and they said depending on where the offices were located in Bangkok, it was business as usual," Dane Chamorro, director for global risk analysis at risk consultancy Control Risks, told CNBC. "If you were right at a protest site, then a number of the offices were closed. A number of the bank branches were closed, because they've been targets in the past."
The protestors failed to realize their threat today of preventing the stock exchange from opening, likely in part as the age of "open outcry" is long past. The SET index wavered between positive and negative in early trade.
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"Operations are as normal," Charamporn Jotikasthira, president of the Stock Exchange of Thailand, told CNBC. But he noted protestors have said they plan to surround the building Wednesday. The number of broker connections would need to drop more than 30 percent before the exchange would stop trading, he said.
So far, the protests' impact on the exchange has been limited, with five IPOs proceeding in the last 10 days of trading, Charamporn noted. But he added, the exchange has been running with a skeleton crew, with many employees working from home or other locations due to issues with commuting during the protests.
"If they just gather around the stock exchange… it will have no disruption with the trading," said Sukit Udomsirikul, head of research at Maybank-Kim Eng in Thailand.
Reuters reported there was no special security outside the stock exchange Tuesday morning, with one group of protestors marching past without stopping on their way to the customs department.