FEC Resources Inc. (FECOF)

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Philippine Stocks Crushed While Malaysia Soars

Problems keep piling up for Philippine stocks, the world’s worst performers this year. The benchmark index fell as much as 3.3% Thursday as mounting inflation pressure and concern the economy is overheating spur speculation the central bank will need to tighten more aggressively than previously thought. The nation’s peso, Asia’s worst-performing currency this year, is also worrying investors. Meanwhile, in Malaysia, foreign inflows have helped send the country’s benchmark index to an all-time high ahead of general elections May 9.