INCHEON, South Korea: Gilas Pilipinas fought reigning FIBA Asia champion Iran on even terms before losing steam in the final minutes to go down, 68-63, in the 2014 Asian Games basketball competition on Thursday at the Hwaseong Sports Complex Gymnasium here.

Despite the loss, the Philippines will still advance to the quarterfinals with a 1-1 card in Group E. Iran took the top seeding in the group with a 2-0.

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