The Philippine Stock Exchange index (PSEi) surged on Monday back to the 7,300-points level on market expectations for a favorable gross domestic product (GDP) result later this week and China’s surprise rate cut late last week.

The bellwether stock index toned down its gains from early trade but still closed up 48.95 points or 0.67 percent at 7,325.13. The broader All Shares index also jumped 0.51 percent or 21.98 points to 4,300.37.

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