Carrie Lam to find love in Year of the Rat, Hong Kong stocks to perform better, CLSA Feng Shui Index says
- Property, natural resources sectors a good bet, CLSA says
- Luckiest dates will be March 5 and April 27, while the unluckiest will be September 1 and October 21
Hong Kong’s leader, Carrie Lam Cheng Yuet-ngor, blamed for a policy misstep that sparked the city’s worst political crisis in decades, will find love in the Year of the Rat, according to investment bank CLSA’s satirical annual Feng Shui Index.
“Chief Executive Carrie Lam is born in the Year of the Rooster, so we foresee that she will have good luck in love. Love is in the air for roosters,” said Jamie Chan, an analyst who helped to compile the index.
The index, which takes a tongue-in-cheek look at the stock market based on the principles of feng shui, the ancient Chinese system of harmonising individuals with their surroundings, has been produced every year since 1992.
According to its forecast, the Hong Kong stock market will have a better time in the Year of the Rat, while the property and natural resources sectors will be good bets. Lunar New Year kicks off on January 25.
Although CLSA says the feng shui guidance is for entertainment purposes only, the index is regarded by many investors as an important informal indicator of Hong Kong stocks. The index shocked the market and gained popularity on its debut, after it correctly predicted seven key turning points in the Hang Seng Index (HSI) the following year. Its accuracy, however, is regarded as below average.
