Ghost stories often refers to more than just stories about ghosts. The term is used more generically to describe scary stories -- the kind you can sit around a campfire at night and tell to thrill the listeners. The best time to tell these stories is at twilight.
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In the Philippines, the most well known ghost story is that of Balete Drive. One legend says that Balete Drive's Balete trees are full of either engkantos (spirits) or kapres (Filipino horse-man monsters). Another legend says that during World War II, Japanese soldiers raped a woman and murdered her, and that woman has lived in a house on Balete Drive. One account, says that if you look in your rear view mirror on Balete Drive you will either see the raped and murdered woman, or get involved in an accident. The best way to prevent this is not to go there at night.