Philippines stockmarket up by 14% since January

In the Philippines, the stock market closed at a record high on Monday - for the second trading sessions in a row, thanks to an influx of foreign funds and expectations of higher government spending.

A cut in interest rates by the Philippine central bank last week from 4.25 to 4% also boosted investor sentiment.

The main share index has risen more than 14% since the start of 2012 - last year it was the best performing market in Southeast Asia - as the BBC's Kate McGeown reports from Manila.

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