My comment: I guess the word "Asian" has been added by Bloomberg journalists. This is the year of the Ox worldwide, therefore whatever is predicted for Asia also is predicted globally.
http://www.bloomberg.com/apps/news?pid=20601213&sid=aWcbMIwbLwbo&refer=home Jan. 23 (Bloomberg) -- Tony Tan, a Singapore-based astrologer, is urging investors heading into the ‘Year of the Ox’ to emulate the beast that lends its name to the lunar new year -- be patient and deliberate. Concerns about the global economy that pummeled Asian stocks in 2008 will persist, causing the MSCI Asia Pacific Index to extend last year’s record 43 percent slump, according to astrologers including Tan, who founded the Harmony Academy of Chinese Metaphysics in 1995. Just like the ox, “investors should be patient and position for a potential market upturn in 2010,” said Tan, a former broker at the securities arm of DBS Group Holdings Ltd. He predicted correctly last year that markets would peak and investors will suffer losses. The MSCI Asia Pacific index’s tumble in 2008, which coincided with the lunar ‘Year of the Rat,’ ended a five-year bull market for the region’s equities. Stocks plunged as the credit crisis caused the failure of banks including Bear Stearns Cos. and Lehman Brothers Holdings Ltd., dragging the world’s largest economies into recession. The Chinese lunar calendar ascribes each of the 12 years in the cycle to an animal, which in turn represents different personality traits. Besides the rat and the ox, the tiger, rabbit, dragon, snake, horse, goat, monkey, rooster, dog, and the pig are also part of the pantheon. Huge Fluctuations As well as being patient, those born in the year of the ox are hardworking, stable and tenacious, Hong Kong-based astrologer Edwin Ma writes on his Web site. Ma contributes a daily horoscope column to Hong Kong’s South China Morning Post newspaper. In the year of the ox, Tan said investors should avoid U.S. and European assets, because both regions are at the center of the credit crisis. Credit-related losses and writedowns at financial institutions worldwide have swelled to more than $1 trillion. U.S. and European companies account for 97 percent of that total, data compiled by Bloomberg show. Tan Khoon Yong, an astrologer who established consulting firm Way OnNet Group, agrees on the need for caution, given the stock markets’ performance in the previous ‘Year of the Ox’ in 1997, which coincided with the Asian financial crisis. The MSCI Asia Pacific Index plunged 28 percent that year. “Chances of boosting one’s wealth in the ‘year of the ox’ are slim as the fluctuations brought about by the ox are huge and fast,” Tan said. He recommends holding shares in marine transport, fishery, technology, energy, hotel, media, lottery and food and beverage companies. Last In, First Out One support for Asian equities may come from investors favoring the region because it is relatively sheltered from the credit turmoil, Tony Tan said. While he bases advice on a mix of Chinese philosophy and astronomy dating back more than 3,000 years, some stock analysts do echo his sentiments. “The news flow will still be negative but Asia will be resilient,” Timothy Wong, head of research at DBS Group, said. “Asia was the last into this crisis and it will be the first out of this crisis.” The MSCI Asia Pacific’s 5.6 percent drop in the past three months beat the 13 percent drop by its European equivalent and 7.6 percent by the U.S. gauge. Economies in Asia’s developing countries will grow 7.1 percent this year, outperforming the U.S. and Europe, according to the International Monetary Fund’s World Economic Outlook released in November. U.S. will slip 0.7 percent, while Europe will dip 0.5 percent, IMF said. China Growth “You will see the first sign of improvement in Asia because that is where the ‘wealth star’ is,” Joey Yap, founder of the Academy of Chinese Metaphysics in Kuala Lumpur, said. “The one country that will still do well once the dust settles is going to be China.” China’s economic growth slowed to 9 percent last year from 13 percent in 2007 as the global economic recession crimped export demand. The IMF forecasts China will grow 8.5 percent this year. Still, Yap cautions investors as the “year of the ox” coincides with the “year of the earth,” symbolizing more turmoil ahead. Only a few industries will do well this year, such as healthcare, education and plantations, he said. “Earth is a non-moving element, you need to clear the dirt first before you could get things moving,” said Yap. “The overall dominant theme of the year is deterioration, decay and stagnation.” --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
