Voters in the Philippines appear to have delivered a resounding victory to President Benigno Aquino in midterm elections. The son of former President Corazon Aquino looks set to control both houses of Congress, giving him a mandate to continue his reform policies. His biggest worry now is making them stick.
Taiwan held military exercises off its southern coast and told people to avoid traveling to the Philippines in what Premier Jiang Yi-huah called a “turning point” in relations with the Southeast Asian nation.
Philippine President Benigno Aquino appeared set to win control of the 24-member Senate with vote counting under way in legislative elections, a result that would bolster his plans for an expanded anti-corruption drive.
Philippine Finance Secretary Cesar Purisima said he is unconcerned that Japan is letting the yen tumble, setting him apart from other Asian policy makers who argue the currency’s slide is hurting their economies.