May 22, 1989

LEAD: As daylight wanes, a defiant exuberance seems to swell among the throngs clogging the intersections along roadways leading to Beijing's central square. But in the small homes of the capital, in the moments shared by friends away from the comfort of the masses, the darker side of what it means to live under martial law emerges.

LEAD: Worried that its policy to keep the dollar stable is floundering after more than three years of relative success, Washington is seeking new, more flexible alternatives.

LEAD: Toyota and Nissan are developing radically different advertising strategies to accomplish the same goal: Persuade affluent Americans to spend almost $40,000 on a large, new and unknown Japanese luxury car.

LEAD: Federal regulators plan to reject a request by one of the nation's most profitable savings and loan associations to leave the industry's deposit insurance fund in favor of the much stronger fund that insures bank deposits, an official of the Federal Home Loan Bank Board said today.

LEAD: The Chicago Bulls continued their remarkable march through the National Basketball Association playoffs and Michael Jordan added to his growing legend this afternoon as the Bulls upset the Detroit Pistons, 94-88, in the opening game of the Eastern Conference final.