The financial markets may look like they're running amok heading into the lunar new year starting February 8 but not for long, predicts Hong Kong-based brokerage CLSA, which is forecasting gains for the rest of the quarter.
In its annual Feng Shui Index published Thursday, CLSA said that there will be a market recovery after a "shocking start" to 2016. After all, the monkey tends to make a loud entrance in traditional Beijing opera, the house noted.
Now into its 22nd edition, the tongue-in-cheek forecast of the lunar year ahead predicts that industries related to metal and water will strengthen in the first half of the lunar year. Other than gold and silver, the auto, financial, gaming, transport and machinery sectors will prosper, CLSA predicts.