Top week for stocks

HOTEL stocks have had an excellent week, with many outperforming the Hang Seng index, which rose 4.3 per cent over the period.

Last month SHK Securities predicted a good performance by Hongkong hotel stocks, with more intra-Asian travel and increased visitors from the West.

SHK Securities was predicting this year's occupancy levels at 82 per cent, 1994 occupancy at 86 per cent and tourist arrivals growing at eight per cent a year.

Investors have been following the same reasoning.

Despite being part of the Jardine group, Mandarin Hotel was the best performing stock in the first week of 1993 and the shares have been aggressively bid up by both local and overseas investors.