Philippines: Stocks bounce back from early losses

[MANILA] Philippine stocks reversed early losses to trade higher on Tuesday after firebrand mayor Rodrigo Duterte looked set to become the country's next president.

The Philippine benchmark index was up 0.5 per cent at 7,023.62 as of 0437 GMT, after falling as much as 0.7 per cent earlier in the day tracking broadly weaker regional markets.

A rolling ballot count by an election commission-accredited watchdog showed Mr Duterte had almost 39 per cent of votes cast. He was more than 5 million votes ahead of his nearest rival with 90 per cent of votes counted.

REUTERS