The 7.5-percent second-quarter growth of the world’s second-largest economy lifted many regional stock markets including the local bourse, even if the latest figure showed a weaker quarter-on-quarter growth for China.
“The PSEi [Philippine Stock Exchange index] extended gains to a fourth session on the back of a general rise among Asian equities after China’s second-quarter GDP [gross domestic product], which albeit slower, was in line with market expectations,” Jun Calaycay of Accord Capital Equities Corp. said.
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