Philippine shares climb on vaccine optimism

Philippine stocks closed positively on Monday amid optimism over potential COVID-19 vaccines and easing quarantine measures.

The benchmark PSEi rose 0.12% to end at its highest level since February, while the broader All Shares index improved by 0.82%.

Bank stocks led the market's rally with a substantial gain of 3.33%, driven by positive vaccine developments and expectations for economic recovery.

Despite tempered gains expected this week due to last week’s extended optimism, investors remain hopeful about global distribution of vaccines in coming months.