Year of the Rooster promises financial gain, but beware of market volatility
Feng shui master says Year of the Rooster will be good luck for women
Kung hei fat choi to all readers. As the first White Collar column in the Year of the Rooster, it’s time to offer some feng shui tips to investors as part of the Lunar New Year tradition.
The Year of the Rooster is traditionally good for investment but investors need to be cautious as this year is likely to be bumpyas indicated by the bad omen during the Lunar New Year fireworks on Sunday, according to feng shui master Wong Man-chiu.
Wong said one of the elements of this Year of the Rooster is gold, which means it is good for investment. However, since this year’s rooster elements are a combination of gold and fire, the year would be volatile.
“Investors need to be cautious as fire means there would be a bumpy road ahead although they can make money amid these volatilities if they have made smart investment choices,” Wong said.
“The fireworks on the second day of the Lunar New Year also showed a bad omen as the visibility was not clear while it rained slightly. This is not a good sign,” he said.
Wong said this year would be good for the financial sector, including gold, forex trading and stocks, with the Hang Seng Index expected to trade between the 20,000 to 25,000 level.
The Year of the Monkey was a good year for the Hong Kong stock market, with the benchmark index rising 21 per cent for the year to close at 23,360 on Friday, the last trading day of the Monkey year.
In comparison, the previous two Years of the Rooster – 2005 and 1993 – saw Hong Kong financial markets do well. Wong said 2005 was a combination of wood and fire, which saw many of the largest mainland banks list in Hong Kong, including Bank of Communications, the fifth largest lender by assets, and China Construction Bank, the first mainland China state-owned commercial bank.
The China Construction Bank listing raised over HK$71.5 billion and was the largest initial public offerings in Hong Kong at that time.
In 1993 there was an even a bigger breakthrough as it was the first year that Chinese enterprises started listing in Hong Kong. That year was a combination of water and gold, which Wong said is good for money.
Wong said this Year of the Rooster will be good luck for women.
“Husbands should treat their wives better and the single man should work harder to get a girlfriend,” he said.
He also believes Hong Kong will have a good chance to see its first female Chief Executive. He therefore believes the two female candidates, Carrie Lam Cheng-Yuet-ngor and Regina Ip Lau Suk-yee, will have a better chance of winning than the two male candidates, John Tsang Chun-wah and Woo Kwok-hing.
In terms of colour, Wong said Year of Rooster is a good time wear red, pink and purple.