Japanese stocks hit high note

PUBLISHED : Monday, 05 May, 1997, 12:00am
UPDATED : Monday, 05 May, 1997, 12:00am

Japanese stocks outperformed the rest of the region last week as a strong US dollar spurred exporter stocks.

The Nikkei added 4.85 per cent in value, also helped by strong US growth figures.

The hope is that a strong US economy will increase demand for Japanese products made more affordable by a weaker yen.

It was a bad week for anyone invested in Philippine equities, with the Manila market falling 9.29 per cent.

A collapse in property prices, uncertainty over the soundness of banks and signs that the economy is slowing all contributed to what some analysts are already calling a crash.

In Thailand, bad news over property, banks and just about everything else continues to make the Thai market the world's worst performer.