Former property developer Alan Ho was down on his luck. His wealth had evaporated amid two years of economic storms. He needed a new business plan. He found it in the calligraphy-adorned office of Joseph Hau, master fortune teller.
For HK$9,000 (US$1,150), Hau gave Ho a preview of his next 20 years, including the news he would make a year's income in October. Now Ho is celebrating.
"Already this month, I've made almost HK$100,000," said Ho, who began a new career in tobacco after taking Hau's advice to quit the construction industry.
While Ho admits it's "hard to explain the logic behind all this," his is a very Hong Kong tale: Numerology, tarot readings and palmistry co-exist here with glass-walled towers, the Internet and mobile phones. What's new is that, as growth slumps and job cuts rise, folk are turning to fortune tellers for advice not just on love and marriage but on money too.
"People tend to do it more when there's a downturn," said Jun Ma, a senior economist at Deutsche Bank. "If you're happy with your money-making process, you wouldn't do that."
Though Ma, like many, doubts the fortune tellers' powers of foresight, to those who consult them they're confidants and comforters, just as priests or doctors may be to others.
Master Hau, who divined Ho's fortunes from the "DNA pattern" set by his time of birth, says his customers are "starting to ask a lot more economic questions." No long-bearded sage, the 43-year-old Hau studied business in a Kansas community college in the 1970s before returning to Hong Kong as a gold and stock trader. He became a professional fortune teller 10 years ago, now operating an office in the Tsim Sha Tsui hotel district.
Indeed, in Hong Kong superstition is as much part of life as moneymaking. Leading companies consult feng shui masters (geomancers) on the design of offices and apartment complexes.
Now, these deep-seated beliefs are being stirred by financial worries. The economy shrank 1.7 percent in the second quarter, while unemployment reached a 17-month high of 5.3 percent in September.
"When times were good, people would ask about changing jobs," said Chow Hon-ming, a fortuneteller who says he has between 50 and 60 regular customers and two staff.
"Now they don't have a choice. They might ask about whether the company will last."
Hau predicts fate will favor companies whose stock codes end with 1, 2, 6 or 7.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College