Manila  - Philippine shares rose 2.46 per cent Monday on plans by the United States government to buy as much as 1 trillion dollars in toxic assets on banks' accounts.

The Philippine Stock Exchange's 30-share composite index added 45.19 points to close at 1,879.09 from Friday's finish of 1,833.90.

A total of 554.25 million shares valued at 4.73 billion pesos (97.72 million dollars) were traded.

Gainers outpaced losers 53 to 29, with 38 issues unchanged.

Traders said investors welcomed Washington's plan to stimulate the US economy and provide liquidity to banks, aimed at opening up credit for businesses and families. (dpa)