SINGAPORE, Jan 5 (Reuters): Philippine shares slumped 1% on Tuesday as higher-than-expected inflation figures dimmed hopes of an interest rate cut in the near term, while the tech-heavy South Korean bourse scaled a record peak on robust chip export forecast for the year.
Manila's index dropped to a one-week low as inflation in December touched a near two-year high and the top end of the central bank's projected range, owing to elevated food prices after weather disturbances damaged crop yields.
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