Chess Puzzle of the Week (126)

I was reading some 1978 New Zealand newspapers, as one does, the other day, when I came across this interesting position. Luis Chiong (Philippines) was playing White against Manuel Aaron (India) in a tournament in Kuala Lumpur.

I have two questions for you.

  1. What is White’s best continuation here?
  2. How would you assess the position? Advantage for White, equal chances, or advantage for Black?