MANILA (Reuters) - Benigno "Noynoy" Aquino was cruising to victory as counting continued in the Philippines presidential election on Tuesday, leaving him to prove he has the strength to push his reform agenda, fight corruption and cut a large budget deficit.

The country's first automated election ran far better than many had expected -- particularly after a technical problem last week -- and the quick and clear result allowed investors to bypass fears of prolonged political instability.

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