Business as usual on financial markets

Manila, Philippines -- Philippine financial markets would open for normal trading Monday despite street protests in support of jailed ex-president Joseph Estrada spilling over into the Makati financial district.

Philippine Stock Exchange and Bankers Association of the Philippines officials told a wire services that equities and currency trading would open as scheduled at 9:30 am (0130 GMT).

At least 300 Estrada supporters massed outside the Makati trading floor of the stock exchange at dawn after a short march from the nearby Ortigas financial center, where tens of thousands of anti-government demonstrators have been holding a six-day protest.

Riot police took positions on Makati streets on Monday to head off trouble.

The last rioting in Makati was instigated by Estrada supporters on January 19, the day before he was toppled in a military-backed popular revolt.

The last trading disruption sparked by political issues took place in December 1989, when right-wing military rebels occupied Makati highrises and held off government forces for four days in clashes that left at least 500 casualties.

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