HONG KONG. Mar 2: The Japanese yen continued to strengthen throughout the week. Duoyed by renewed hopes the government may deliver a stimulus package strong enough to lift the country's stagnant economy, reports AFP.

Elsewhere, the Indonesian rupiah strengthened but concerns surrounding plans to introduce a currency board persisted. Most other Asian currencies also gained, largely due to domestic factors.

JAPANESE YEN: The Japanese yen edged up against the dollar during the week, backed by growing hopes for Tokyo's next economic stimulus package. The yen stood at 126.7-73 to the dollar late Friday against 126.79-82 a week earlier.

The Japanese unit plunged into the 128-range to the dollar Monday amid growing concerns over the government's handling of its stagnant economy after the Group of Seven (G-7) financial meeting in London.

Finance Minister Hikaru Matsunaga rejected G-7 calls for Japan to do more to kick-start its economy and help Asia recover from its economic crisis.

The yen rallied to the 126-level later in the week with senior ruling party officials hint-

ing the next economic package would include more fiscal spending.

INDONESIAN RUPIAH: The Indonesian rupiah closed Friday at 8.706-8,794 to the dollar compared to 8,950-9.050 a week earlier.

SOUTH KOREAN WON: The won strengthened to 1,637 to the dollar Saturday from 1,655 a week ago as foreigners increased their portfolio investments, providing some breathing space amid the ongoing financial crisis.

THAI BAHT: The Thai baht appreciated slightly against the dollar closing at 43.05-20 com-Jfared to 44.70-90 a week ear-ler.

Analysts said strength in the baht was due to positive sentiment following cabinet approval for new strategies to deal with the economic crisis, in cooperation with the International Monetary Fund.

Improved trade figures also contributed to baht gains.

MALAYSIAN RINGGIT: The Malaysian ringgit closed firmer at 3.6600 to the dollar from 3.7450 a week earlier.

Dealers said the government's decision to allow foreigners to increase their stake in the telecommunication sector to 49 per cent from 30 per cent had a

positive impact on the ringgit.

Further gains were expected but market players would remain cautious amid continuing economic uncertainty In the re-8*°PHILIPPINE PESO: The Philippine currency appreciated by 1.3 per cent to close at 39.85 pesos to the dollar on Friday, from 40.36 on February 20.

AUSTRALIAN DOLLAR: The local unit closed at 67.45 US cents Friday down from 67.58 US cents a week ago. Analysts said a flood of official data due this week could how much damage the Asian economic crisis had done to the currency, and result in volatile trade.

"There seems to be resistance at 67.60 US cents, but there appears to be some stop (loss orders to buy) at 67.65-67.70 US cents, so if we do manage to get up there it may propel to 68.00 US cents." sale! IBJ Australia Foreign Exchange Manager Darrin Stewart.

Colonial state bank chief economist Craig James said the Australian dollar faced "a major test" on Tuesday when retail trade, building approvals, current account, anti foreign debt are due.

Traders noted some strength in the Aussie at the close of the week was helped by a stronger

Sold price and an improving apanese yen.

NEW ZEALAND DOLLAR: The New Zealand dollar closed Friday at 58.06 US cents, up from the 57.97 of a week earlier. Dealers said there were some bids at around the 58.08 US cent level.

TAIWAN DOLLAR: The Taiwan dollar settled at 32.100 against the dollar Friday, after rising 2.3 per cent over the week following the inauguration of the island's new central bank governor, Peng Hual-Nan, who was expected to take tough action against currency speculation.

The unit stood at 32.852 Monday and Tuesday rose to 332.752. The upward trend continued Wednesday and the unit moved to 32.551 and rose further Thursday to 32.200.

SINGAPORE DOLLAR: Despite sharply lower official growth forecasts for 1998, the Singapore unit closed firmer at 1.6235 to the dollar from 1.6360 the.week before as investors ac-Sulred the currency ahead of le release of the national budget last Friday.

HONG KONG DOLLAR: The Hong Kong dollar closed the week at 7.7441 against the greenback from 7.738-74 the week before.