Philippine leads Asian equities lower as US bond yields surge

Indonesia's central bank has kept its key rates unchanged at a record low of 3.50%.

BENGALURU: Philippine shares fell nearly 3% on Friday, leading declines across Asia, as a rise in U.S. bond yields continued to sap appetite for the region's equities and currencies.

Indonesia's rupiah and Taiwan's dollar fell around half a percent against a firmer greenback after their central banks left interest rates unchanged on Thursday. China stocks fell more than 2%.