The stock market soared to new heights on Tuesday as investors cheered the government’s announcement of the liberation of Marawi City, ending the day at a fresh record just short of the 8,500 level.

The Philippine Stock Exchange index (PSEi), which gained 0.59 percent or 49.80 points to close at 8,497.77, actually broke past 8,500 for the first time to hit an intraday high of 8,586.73.

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