MANILA - Philippine President Gloria Macapagal Arroyo's appointment of a new chief justice was an attempt to protect herself against investigations of her rule, the man set to succeed her said on Friday.

Benigno Aquino, who has an insurmountable lead in unofficial tallies of votes from Monday's national elections, said he hoped to avoid taking the oath of office on June 30 from Renato Corona, a former chief of staff of Arroyo's whom she controversially appointed as the country's next chief justice this week.

The relatively smooth election process and the emergence of a clear winner with market-friendly credentials is seen as a positive development for improving long-term investor perception, although a messy transition period could keep sentiment cautious.