In the Pinoy and most Western cultures, women are usually presented with engagement rings when they are proposed to. The ring (often set with at least one sparkly diamond) tells the world that the woman is already betrothed.
In the recent years, men have followed suit in the practice wearing engagement rings. The masculine bands, called "mengagement rings" by many, have also sparked interest and debate, thanks to Hollywood. Last year, singer Michael Bublé proposed to his girlfriend, and he presented her with a diamond engagement ring. He followed the customary way of proposing to a woman, but he found out that he had to sport an engagement ring, too.
While wearing an engagement ring seems like a fad among men, the practice is actually a tradition in some countries. In Argentina (where Bublé's fiancé is from), the groom wears the ring on the left hand. On the wedding day, the engagement ring can be moved to the right hand and replaced with a wedding ring. Brazil also has a similar practice, wherein the groom wears the engagement ring on the right hand. The ring is then transferred to the left hand on the day of the wedding, and the same ring becomes a wedding ring.
The practice stands for the same reason why women wear engagement rings: to show that they're committed to a formal agreement, which is marriage. Also, some women argue that by asking the groom to wear an engagement ring, they are encouraging equality in the relationship. Some men, on the other hand, would not consider wearing a ring (other than a wedding ring) for fear that it would not seem like a masculine practice.
That is not to say though that mengagement rings look feminine. The bands are thicker and simpler compared to women's engagement rings. Some are set with stones, but other mengagement rings are unadorned.
The answer as to whether or not men should wear engagement rings really is a personal choice. Would you ask your groom to wear an engagement ring?