Emerging Markets: Philippines recoups losses, set to post 8% weekly gain as Taiwan leads most Asian shares higher

Philippine Stock Exchange trading floor on October 7, 2019. Photo by Ralf Rivas/Rappler

MANILA, Feb 28 (reuters): Taiwan led most of Asia's emerging market equities higher on Friday as investors cheered positive US economic data and plans for trillions of dollars in federal spending, while Malaysian shares fell as Covid-19 cases hit a daily record.

The region's currencies held on to gains ahead of US inflation data, with the Taiwan dollar and the South Korean won leading gains against the greenback.