Emerging markets: Philippines and Indonesia shares climb higher as Indian shares surge on budget boost

SINGAPORE Feb 1 (Reuters): Indian shares rose more than 3% and bond yields gained on Monday after the country's annual budget chalked out plans to double healthcare spending and lift caps on foreign investment in its vast insurance market to pull the economy out of a slump.

Regional currency markets were subdued and the Chinese yuan traded 0.5% weaker against a stronger dollar after a survey on Sunday showed China's factory activity grew at the slowest pace in five months in January.