Protests break out as Philippines election returns a Marcos to presidency

Stocks (.PSI) lost as much as 3% at one point, sovereign dollar bonds fell, while the peso currency rose 0.4% against the dollar.Many who did not support Marcos are angered by what they see as a brazen attempt by the disgraced former first family to use its mastery of social media to reinvent historical narratives of its time in power.Thousands of opponents of the senior Marcos suffered persecution during a brutal 1972-1981 era of martial law, and the family name became synonymous with plunder, cronyism and extravagant living, with billions of dollars of state wealth disappearing.The Marcos family has denied wrongdoing and many of its supporters, bloggers and social media influencers say historical accounts are distorted.Students and activists gather outside the Commission on Elections to protest its unofficial tally of the national elections, showing presidential candidate Ferdinand "Bongbong" Marcos Jr. on course to win the presidency, in Manila, Philippines, May 10, 2022.REUTERS/Eloisa LopezAround 400 people, mostly students, staged a protest against Marcos outside the election commission on Tuesday, citing election irregularities.The poll body on Tuesday upheld its dismissals of complaints filed by different groups, including victims of martial law, that had sought to disbar Marcos from the presidential race based on a 1995 tax evasion conviction.Two of the petitioners, including leftist group Akbayan, said they will appeal to the Supreme Court.Manila city Mayor Francisco Domagoso, running a distant fourth, became the first presidential contender to concede defeat.A big win for Marcos was securing President Rodrigo Duterte's daughter as his vice presidential running mate.