1. Analysts said news of a possible minimum wage increase aggravated concerns that the Philippine currency will weaken in step with others in the region. 2. Asian stocks fell, after the Indonesian, Malaysian, Thai and Philippine currencies plunged to record lows for a third day. 3. Most Asian stocks dropped after Indonesian, Malaysian, Thai and Philippine currencies fell for a fourth day to record lows. 4. Stocks and the Philippine currency fell on news of the surgery on Ramos, the architect of reforms that turned around the Philippine economy. 5. The Bangko Sentral ng Pilipinas has defended the Philippine currency through higher interest rates and dollar sales. 6. The Indonesian, Malaysian, Thai and Philippine currencies plunged to record lows for a third day, as companies bought dollars to pay off foreign debts. 7. The Indonesian, Malaysian, Thai and Philippine currencies plunged to record lows against the dollar today, dragging stocks in tow, as the Asian economic crisis deepened. 8. The Malaysian, Indonesian, Thai and Philippine currencies all fell to new record lows today, dragging stocks down across much of Asia. 9. The Philippine currency is almost at its weakest level of the year. 10. The risk is that as the currency crisis drags on, foreign investments may slow, further reducing the demand for Philippine currency. |