MANILA, Philippines - President Benigno Aquino III's taking responsibility for a hostage crisis which left 8 Hong Kong tourists dead will not absolve other officials if they are found culpable, a spokesman said Saturday.

Aquino said Friday he took full responsibility for the tragedy, which has chilled ties with Hong Kong and damaged the Philippine tourism industry.

Presidential spokesman Herminio Coloma said that Aquino's admission was in the context of his role as the country's highest elected official.

"He is not absolving the other officials, no. The president is simply emphasizing that he is accountable to the people [who] elected him," Coloma said.

Sacked policeman Rolando Mendoza took a busload of tourists hostage on August 23 in a desperate bid to clear himself of extortion charges and get his job back.

The standoff, which played out live on global television, came to a bloody end when police made a botched attempt to storm the bus and rescue the hostages.

A high-level committee formed by Aquino is now holding an inquiry into the bloodbath which left eight hostages and the gunman dead and is expected to submit its report next week.

Senator Pia Cayetano, meanwhile, said that only the government's ongoing investigation of the hostage crisis last week would determine who should be held responsible for the bloodbath.

Cayetano said she welcomes President Aquino's "initiative and courage" to take responsibility for the failed rescue of the tourists, but officials who had a more direct hand in dealing with the crisis should be held accountable.

Coloma, meanwhile, said Aquino had no plans to quit. "He will complete his six-year term as president."

Asked about the Hong Kong legislature's demand for an apology and compensation, Coloma said: "President Aquino has apologized and this has been acknowledged by Hong Kong Chief Executive Donald Tsang."

Coloma said Aquino had also announced that his government would study the compensation issue. -- With Agence France-Presse