- Title: CLSA predicts Year of the Rooster for Hong Kong
- Date: 18th January 2017
- Summary: HONG KONG, CHINA (FILE 2016) (REUTERS) VARIOUS OF STOCK EXCHANGE VARIOUS OF HONG KONG BUILDINGS
- Embargoed: 1st February 2017 12:44
- Keywords: Feng Shui CLSA Hong Kong Year of the Rooster
- Location: HONG KONG, CHINA
- City: HONG KONG, CHINA
- Country: China
- Topics: Religion/Belief,Society/Social Issues
- Reuters ID: LVA0025ZLZ4UX
- Aspect Ratio: 16:9
- Story Text:Hong Kong brokerage company CLSA launched tongue-in-cheek financial forecast report "Feng Shui Index 2017," based on Chinese Feng Shui ideology on Wednesday (18, January).
According to resident Feng Shui expert Jeffrey Tong, the Year of the Rooster will bring some peckish volatility to the Hong Kong stock market, but its main index will eventually gain ground before peaking sometime midway through 2017.
"When we do this Feng Shui index have we considered all these factors into that? The answer is no. Everything is simply based on a Feng Shui perspective. From the Feng Shui perspective, so let's say for example, in the second quarter we forecast the Hang Seng index to have a market rally. It's only because we think that the five element sectors could bring the markets on the peak. But you never know because after the Brexit vote you already see the market rebound. So let's see. If you think it's accurate, come back to us next year," said Tong who in his usual day job is a senior research analyst covering macro-strategy at CLSA.
According to Feng Shui, throughout the Rooster year while Fire and Metal elements guide the yearly chart, their influence is not as strong, allowing Earth, Wood and Water to play their roles in turn which may indicate an upturn in the property market.
"We also think that the property market, because the property market is an Earth element sector. So we already mentioned that Earth element sectors should do relatively better throughout the whole year," he said.
Transportation and gaming stocks will be in favour in the first quarter while retail, healthcare, technology and utilities will gain prominence in the June quarter, according to Tong.
The CLSA Feng Shui guide also makes forecasts for some well-known personalities, including former Chief Secretary Carrie Lam, born in the Year of the Rooster, and Rabbit, former Finance Secretary John Tsang who are both expected to compete in Hong Kong's leadership challenge.
Hong Kong's Hang Seng index saw wild swings in the outgoing Year of the Monkey before ending little changed for 2016. It has gained 5 percent so far in 2017.
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