Editor’s Notes: We are past the month of the Hungry Ghost Festival. It is perhaps now safer to publish this. *Crosses Fingers*
The financial world blurs the line between fact and superstition.
What do I mean?
Comparing 12 previous years of results, financial education website ein55.com found empirically that August remains the worst month in terms of local stock performance.
If you refer to his Oct 2018 article, the August months saw investors rack up investment losses 12 out of 12 times.
Having the worst months in August also plague Hong Kong markets, the other market that has a large ethnic Chinese population.
Local investors are well aware that August also corresponds to the Hungry Ghost Festival, where it is believed that malignant spirits will be allowed a month to take a vacation in the Earthly realm to attend Getai Festivals.
As such, evil spirits infecting the local stock-markets in