As broker CLSA says in a report, Hong Kong’s Hang Seng index has dropped in four out of the five last Snake years. Worse, Snake years are often marked by shocks, such as the Russian revolution (1917), the Great Depression (1929) and the Twin Towers attack (2001).
But brokers don’t make their living by being gloomy. So CLSA finds reasons why 2013-14 will be different: it’s all down to the basic energies. Read more