Manila - Philippine shares climbed by 2.32 per cent on Monday, buoyed by news about the United States government's ambitious plan to revive its ailing financial system.

The Philippine Stock Exchange's 30-share composite index gained 57.34 points to close at 2,520.13 from Friday's close of 2,462.79.

A total of 1.32 billion shares worth 3.09 billion pesos (67.15 dollars) were traded.

Gainers outpaced losers, 73 to 21, with 44 issues unchanged.

Analysts said investors were encouraged by the move of the US Treasury to ask Congress for authority to spend 700 billion dollars to buy bad mortgage-related assets. (dpa)