This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Year Of The Snake Promises Calmer HK Market


HONG KONG (AP) â¿¿ As the Year of the Snake slithers into sight, investors should take comfort that the reptile's traditionally negative effect on stock markets probably won't be so big this year, according to the astrological predictions of a Hong Kong brokerage.

CLSA Asia-Pacific Markets released its annual "feng shui" index on Wednesday ahead of the Chinese lunar new year, which begins Feb. 10. The report is based on the signs of the Chinese zodiac and features lighthearted predictions for financial markets, property and celebrities. Feng shui is the Chinese practice of arranging objects and choosing dates to improve luck.

"The snake is a skin shedder. That signifies radical changes," said Mariana Kou, CLSA's "sorcerer's apprentice."

The report noted that previous snake years have been associated with major turmoil such as the Sept. 11, 2001 attacks, the fall of the Berlin Wall and the brutal government crackdown on protesters in Tiananmen Square in 1989 and the start of the Great Depression in 1929. Stock markets have often ended lower in recent snake years.

However, in 2013 there is "good balance on the five fundamental elements," fire, water, earth, metal and wood, which should rein in any significant upheaval, said Kou, whose official title at CLSA is research associate.

The brokerage's predictions, focused mostly on Hong Kong's stock market, are strictly tongue in cheek but feng shui, which translates as "wind water", is followed religiously by many investors in the southern Chinese city in the belief that it will help boost wealth.

Emily Lam, another "sorcerer's apprentice" who in real life is an institutional salesperson, outlined the industries that would benefit in the year of the "black water snake."

"As the water snake enters the picture, she brings along a lot of water on heavenly stems. This will counteract with the earthly branches, favoring transport, logistics, shipping, gambling, tourism and infrastructure."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,813.74 +23.55 0.14%
S&P 500 1,985.97 +6.05 0.31%
NASDAQ 4,759.94 +11.5790 0.24%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs