Shares in the Philippines surged on Tuesday after a national election expected to see Benigno Aquino, the son of the country's most revered democracy heroes, become president.
The Manila bourse closed up 3.85 percent, or 120.87 points to 3,262.93, the biggest jump in more than eight and half months.
A senior analyst at Fitch Ratings said the country's sovereign ratings and outlook were stable following the elections, with no indications that these might change over the near term, Dow Jones Newswires reported.
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National Treasurer Roberto Tan also announced Tuesday that the Philippines is looking to raise a total of almost 16 billion dollars from foreign lenders and the domestic market.
Tan said the government was aiming to raise 4.38 billion dollars from foreign lenders and about 12.4 billion dollars from the domestic market to finance a record 2011 budget of 1.68 trillion pesos (37 billion dollars).
The Philippines is one of Asia's most aggressive foreign borrowers.
Political power
The wife and children of deposed dictator Ferdinand Marcos appeared poised to return to political power in Congress and their home province, according to partial results.
With about 80 percent of the votes tallied from Monday's polls, former first lady Imelda Marcos, her only son Ferdinand Jnr and eldest daughter Imee are all likely to be elected in their respective races.
Imelda, 80, will get a seat in the House of Representatives, Ferdinand Jnr, 52, will go to the 24-seat Senate and Imee, 56, will become governor of the family's home province of Ilocos Norte, the figures showed.
Lito Gorospe, a family spokesman, told AFP that Imelda and Imee Marcos were both expecting to be proclaimed in a few hours.
"We are just awaiting word from the Commission on Elections," he said.
The victory of the three Marcoses marks a comeback for the family that fled to Hawaii in 1986 after a popular revolt toppled them from power and installed opposition leader Corazon Aquino, whose son Benigno is now the apparent winner of Monday's presidential vote.
Imelda Marcos became an object of scorn for her extravagant lifestyle including a gigantic collection of shoes found in the presidential palace after they fled the country.
Her husband died in Hawaii in 1989 but in the forgiving world of Philippine politics, the family has made a comeback from their old political strongholds in the far north and central islands.
