Emerging markets - Philippine peso weakens for third straight session as Asian FX, stocks slip on lingering Ukraine worries

MANILA, March 21 (Reuters): Emerging Asian currencies weakened against the US dollar on Monday while most stock markets slipped, as traders weighed the economic fallout from an intensifying Russia-Ukraine conflict.

China's Shanghai Composite Index reversed its early gains to trade half a percent lower, as higher Covid-19 cases and a decision by the central bank to hold benchmark interest rate despite government pledge to support the economy weighed on sentiment.