Duterte's next challenge: winning over investors

Manila

AFTER defeating his opponents in a heated presidential election in the Philippines, Rodrigo Duterte is seeking to calm markets with a call for "healing" as he seeks to win over Filipinos and investors watching closely for how he will manage the economy.

"Past days have been virulent. I'd like to reach my hand out to my opponents," Mr Duterte, 71, said in a briefing in Davao City after Monday's voting. "Let's begin healing now." He claimed victory after preliminary results showed he secured about 39 per cent of the vote, and named some potential Cabinet members.

The early response from markets was positive. The peso strengthened against the dollar and all its major Asian peers on Tuesday. The Philippine Stock Exchange Index surged 2.…