The stock market enjoyed a rally on Wednesday on account of better than expected exports data from China, but the peso fell to a new-six year low as the dollar strengthened.

The benchmark Philippine Stock Exchange Index (PSEi) gained 2.58 percent or 163.58 points to end the day at 6, 494.13, while the Wider Shares index rose by 2.16 percent or 78.85 points to close at 3,724.31.

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