Manila: Philippine shares continued to recover boosted by the better-than-expected inflation data, while the peso closed weaker than the dollar on Monday. The Philippine Stock Exchange index (PSEi) rose 0.99 percent to close at 6,360.77, while All Shares also went up by 0.66 percent to 3,748.92.

According to Philippines News Agency, Philippine shares continued the recovery, getting a boost from the better than expected CPI (consumer price index) reading and strengthening peso," said Regina Capital Development Corp. head of sales Luis Limlingan. Inflation settled at 2.1 percent in February, near the lower end of the Bangko Sentral ng Pilipinas' 2 to 4 percent target.

All sectors closed in the green, with Mining and Oil recording the biggest gain at 3.74 percent, followed by Property, and Industrial. Advancers led decliners at 122 to 76.

Meanwhile, the peso closed at 57.41 to a dollar, weaker than the 57.21 finish last Friday. It opened at 57.25 and traded between 57.2 to 57.43, bringing the day's weighted average to 57.35. The volume of trade fell to USD815 million from USD1.83 billion.