The stock market hit a new record high on Monday, stopping just short of the 8,300 resistance level on the back of what analysts said was continued investor optimism.

The Philippine Stock Exchange index (PSEi) gained 1.39 percent or 113.29 points to close at 8,294.14. The broader All Shares likewise grew by 1.04 percent or 50.15 points to settle at 4,886.48.

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