SINGAPORE: Short positions in the Thai baht rose to a near four-month high in the last two weeks after the military seized power, while sentiment on the Indonesian rupiah turned bearish for the first time in nearly four months, a Reuters poll showed on Thursday.

Bearish bets on the baht rose to the highest level since late January after the military took control of the country on May 22 in a bid to restore order after months of political turmoil, according to a survey of 14 currency analysts.

The baht hit a four-month low on fears the coup would fuel capital outflows, but has since pared some of its losses after the military government said it is drawing up emergency measures to revive the stumbling economy.

Sentiment on the rupiah turned sour for the first time since mid-February, on renewed worries about Indonesia's current account deficit after the country on Monday reported its largest trade gap in nine months in April.

Short positions on the rupiah were the largest since late January, as investors stayed cautious ahead of July's presidential election.

Pessimism on the Chinese yuan persisted although short positions fell to the smallest level since late February. Some investors took profits from their dollar long positions to the renminbi.

Sentiment on most other emerging Asian currencies turned less optimistic.

Long positions in the Indian rupee fell by around a third as the central bank was spotted intervening to stem further strength in the best performing Asian currency so far this year.

Bullish bets on the South Korean won were also trimmed as foreign exchange authorities there followed suit.

Sentiment on the Singapore dollar became almost neutral as the yuan stayed weak. The city-state's manufacturing activity grew in May but at a slower pace than in April, a survey showed.

Long positions in the Malaysian ringgit and the Philippine peso fell slightly as investors booked profits.

The previous poll published on May 22 showed bullish bets on the two currencies had risen to their largest levels in more than one year.

The Reuters survey is focused on what analysts believe are the current market positions in nine Asian emerging market currencies: the Chinese yuan, South Korean won, Singapore dollar, Indonesian rupiah, Taiwan dollar, Indian rupee, Philippine peso, Malaysian ringgit and the Thai baht.

The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.

A score of plus 3 indicates the market is significantly long US dollars. The figures included positions held through non-deliverable forwards (NDFs).

Copyright Reuters, 2014