Philippines, Malaysian stocks drop more than 4pc

COLOMBO: Philippines' benchmark index extended its fall to 4.6 percent and Malaysia stocks dropped 3 percent on Tuesday on fears that political leaders are failing to tackle debt crises in Europe and the United States.

By 0154 GMT, Philippines main stock index plunged 4.6 percent to 4,130.63 to a near two-month low, and Malaysia's index dropped 3 percent to 1,451.87, the lowest since September 24, last year.

At 0215 GMT, Malaysia was down 3 percent after falling as much as 4.9 percent earlier. Vietnam stocks were down 2.4 percent.

Copyright Reuters, 2011