The benchmark Philippine Stock Exchange index rose by 0.46% or 8.98 points to 1,951.46, while the all shares index added 0.21% or 2.64 points to 1,247.27.
A total of 594 million shares worth P1.49 billion were traded. Foreign selling trumped buying by P192 million.
Advancers led decliners 38 to 34 while 40 stocks did not move.
“The market’s rally was a spill-over of last week’s strong performance. However, investors should always be wary whenever the market goes up by 5% as this opens a window of opportunity for profit takers,” said Jun B. Calaycay of Accord Capital Equities Corp.