CLSA Launches Feng Shui Index 2023 – Year of the Water Rabbit


  • Top sector picks: Telecom and Internet, Oil & Gas, and Semiconductors
  • Best property investment areas: North, South, Southwest and Centre
  • Most fortunate zodiacs: Monkey, Dog, Dragon, Goat and Pig

Hong Kong – Thursday, 12 January 2023, CLSA today launches the 29th CLSA Feng Shui Index (FSI), a tongue-in-cheek outlook for the Hang Seng Index (HSI) in the year of the Water Rabbit. The guide also includes top sector picks, property investment tips and zodiac predictions for health, wealth, love and career in 2023. As always, we advise investors to consult CLSA analysts for fundamental analysis and market insights when making investment decisions.

Gentle, quick and responsible, the Rabbit is the fourth animal in the 12-year cycle of the Chinese horoscope. Together with yin water, this combination bodes well for a calmer 2023 compared to last year’s tumultuous experience. This year’s bazi, or destiny chart, advises us to step out of our comfort zone but remain mindful of perils afoot. After all, a rabbit’s foot is lucky for everyone but the fluffy woodland creature.

Our focus, first and foremost, is to examine the Water Rabbit’s influence on the Hang Seng Index, our favourite Earth Rooster, to forecast its relative movements in 2023. While this year’s Rabbit brings fire, the Hang Seng’s lucky element, the lack of metal is not a good sign, as coins represent the markets. Thus, the destiny chart predicts substantial movement but little traction. After a decent start to the year, we expect a momentary setback in March and a modest rise before summer. The Hang Seng Index, our Rooster, will then stumble twice before embracing a rally in November, setting up for a comfortable winter.

In the FSI, all industries are divided into one of the five elements – wood, fire, earth, metal and water. We assess the relative strength of each element at any given time to select our top sector picks. From a Feng Shui perspective, fire-related industries such as oil & gas, fashion and tech should have the most auspicious year, with the best time in late spring. Similarly, fortunes for the sectors associated with wood, which include healthcare, education and plantations, should be fairly good with high points in early spring, late fall and winter. However, earth-related property, construction and water-related travel, hotel and transport sectors are likely to have a mediocre year. As metal is once again absent in the bazi, financials and sectors requiring metallic input such as batteries will remain pressured.

The flying stars bring their attributes to bear on the nine houses they inhabit and this cosmic framework can be applied to any location, from your home to the entire planet. Property investors should therefore consult the charts before making any buying decisions. This year, north and south are the best directions, followed by the southwest and centre. Avoid the northeast and northwest, this year’s most challenging areas. In addition, we suggest you tread carefully in the east and west directions. Tai Sui, the Grand Duke, has set up house in the east, but the west hosts the malevolent Year Breaker and the Three Killings stars.

Turning to the zodiacs, the Dog, Monkey, Goat, Pig and Dragon should have a great year, enjoying themselves on a metaphorical junk boat excursion. Similarly, Rat, Ox and Horse will have a moderately good time, and be able to pursue hobbies. While Rabbit and Tiger will have a decent 2023, those born in the year of the Snake will be slaving away at the workplace. Sadly, Rooster will have the most difficult year. Not only will he fall in the water, but he will also have to worry about falcons.

For more details on the 29th CLSA Feng Shui Index in the year of the Water Rabbit, including a number of celebrity zodiac predictions, visit


About the CLSA Feng Shui Index

Launched in the Monkey year of 1992, the CLSA FSI evaluates the bazi (eight character fortune) against the birth sign of the Hang Seng, an Earth Rooster launched in November 1969. The mysterious influences of the wu xing (five energies) and xuan hong (flying stars) are then incorporated into the mix. In assessing the sectors, we concentrate on the relative strength of each of the elements – earth, water, metal, wood and fire – as they cycle through the five phases in the respective monthly charts. An annual tradition, the CLSA Feng Shui Index is a light-hearted outlook for the Hong Kong market and is not a research report.

About CLSA Limited

CLSA, CITIC Securities’ international platform, provides global investors and corporates with insights, liquidity and capital to drive their growth strategies.

Award-winning research, an extensive Asia footprint, direct links to China and highly experienced finance professionals differentiate our innovative products and services in asset management, corporate finance, equity and debt capital markets, securities and wealth management.

As part of CITIC Securities (SSE: 600030, SEHK: 6030), China’s leading investment bank, CLSA is uniquely positioned to facilitate cross-border capital flows and connect China to the world and the world to China.

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Media Contacts               

Lizzie Wang
Senior Communications Specialist, CLSA
T: +852 2600 8459

Peter Joblin
Director of Communications, CLSA
T: +852 2600 8046