Emerging markets - Philippine peso, Indonesian rupiah top gainers as Asian stocks slide

The Philippine peso, which lost 8.5% so far this week, appreciated 0.9% in its fifth session of gains, after the central bank said it will hike interest rates this month. - Reuters

MANILA Dec 2 (Reuters): Most Asian currencies firmed against a weak dollar on Friday, with the Philippine peso and the Indonesian rupiah leading gains, while stocks fell as dull U.S. manufacturing activity data reaffirmed the possibility of higher interest rate hikes.

The Philippine peso, which lost 8.5% so far this week, appreciated 0.9% in its fifth session of gains, after the central bank said it will hike interest rates this month, although the board could likely be split over the quantum of the hike.