Manila  - Philippine shares fell 4.65 per cent on Monday as investors stayed away from the local market amid persistent concerns over the global economic crisis.

The Philippine Stock Exchange's 30-share composite index lost 86.43 points to close at 1,769.67, from Friday's finish of 1,856,10.

Losers outpaced gainers 55 to 24, with 30 issues unchanged.

A total of 883.69 million shares valued at 2.14 billion pesos (44.16 million dollars) were traded. (dpa)