Philippine President Gloria Macapagal Arroyo. - reuters

MANILA, (Reuters):

Philippine President Gloria Macapagal Arroyo comfortably beat an attempt by political opponents to unseat her yesterday in a widely anticipated victory.

After a marathon overnight session of debate, lawmakers in the lower house of Congress voted 173 to 32 to quash the impeachment complaint, which accused Arroyo of election fraud, corruption and human rights abuses.

Majority support

Arroyo, due to serve until 2010, survived a previous bid to remove her in 2005.

Financial markets have shrugged off the impeachment attempt because of the president's majority support in the House of Representatives.

"As far as we are concerned, the impeachment attempt was already dead," said Astro del Castillo, managing director of investment firm, First Grade Holdings, in Manila.