(Oct 5): Philippine shares fell about 1.5 percent on Wednesday on growing economic concerns and as political tension heightened after President Rodrigo Duterte told his American counterpart to "go to hell." In his latest salvo, Duterte said he was realigning his foreign policy because the United States had failed the Philippines and that at some point "I will break up with America". Consumer inflation in the Philippines raced to an 18-month high in September as prices rose for food and utilities, but the central bank said there was no need to change its monetary policy stance. Other Southeast Asian markets were subdued following a report that the European Central Bank may taper asset purchases, while investors were also spooked by prospects of a U.S. interest rate hike in the coming months. Vietnam shares were headed for a second straight session of gains, supported by energy and consumer cyclical stocks.

Source: The Edge Markets October 05, 2016 04:18 UTC