In Maybank’s 2024 feng shui report, the bank’s head of research based in Kuala Lumpur, Malaysia, Mr. Thilan Wickramasinghe and feng shui expert Ken Koh gave an assessment of the areas that will excel and the areas that will The sector may face difficulties this year.

WILL INDUSTRIES IN THE FIRE, EARTH, METAL Elements BE FAVORITE?

According to the report, 2024 is the year of the “wooden dragon” characterized by positive energies – representing masculinity, recklessness, and far-reaching decisions. This year is also the beginning of a new 20-year feng shui cycle, in which fire will be the dominant element. Therefore, the fields that will benefit in terms of feng shui this year are all fire elements, such as technology, artificial intelligence (AI), energy and pharmaceuticals.

According to Mr. Koh, fire is a symbol of economic activity, faith and optimism.

The global economy is forecast to decelerate in the first half of this year, but businesses with fire factors such as technology, pharmaceuticals, entertainment and tourism are likely to do well from the beginning of the year. Maybank also pointed out that the insurance industry will be a “bright star” of 2024.

“From June onwards, adjusted interest rates will improve business confidence. Thanks to that, the stock market will witness a wave of new confidence and hope, leading to mergers, acquisitions and initial public offerings (IPOs),” Maybank’s report said. writing paragraph.

However, the report also warns that for fire-element industries, the first year of a new energy cycle “always means difficult changes and transitions”. Therefore, this year will see many new businesses entering and many old businesses unable to maintain business operations in these industries.

Earthly industries are also expected to benefit from the dominance of the fire element this year, specifically waste management, real estate, data storage and urban agriculture. “Despite high interest rates and rising costs due to inflation, these industries have recently proven to be stable and will continue to grow,” Maybank’s report reads.

According to the report, with the prospect of reduced interest rates, reduced inflation and better fiscal management in 2024, support for land-based industries, especially real estate, will continue to increase.

The emergence of the fire element in the feng shui cycle over the next 20 years will also help earth-based industries develop into sustainable business fields, the report said, saying that businesses in these fields will Contribute to society through the use of technology and AI.

Notably, in fields that belong to the metal element – such as banking, engineering, mining and automobiles – the wood element of the Year of the Dragon will bring prosperity. “Those who have knowledge and courage will be favored by fortune. Lucky potential will be revealed in July and peak in November 2024,” according to the report.

Maybank believes that this year will bring great investment opportunities for those who are ready to capture reasonable values ​​in metal-related industries, with the first half of the year being a period of good opportunities. best. However, that investment can take up to 5 years to bear fruit.

ARE THE SECTORS OF THE WATER AND CARPET ELEMENTS FINDING DIFFICULTIES?

While the fire, earth and metal sectors are predicted by Maybank to benefit in terms of feng shui this year, the water and wood sectors are expected to face challenges.

According to the report, 2024 may bring difficulties for businesses in the water element, but these companies can still be profitable thanks to their ability to adapt to different conditions. Notably, the report points out that the shipping industry will face some difficulties due to obstacles in some sea routes.

Other sectors of the water element – such as airlines, cruise ships, accommodation services and theme parks – will also be less favorable this year due to changes in consumer demand, but are still expected to will grow throughout the year. Meanwhile, industries such as fishing and aquaculture will experience growth in productivity and output, thereby improving business results.

And finally, industries belonging to the wood element are forecast to struggle in 2024 due to this year’s strong influence of the elements fire, earth and metal. But there will still be some bright spots, including the education sectors, fund management and estate management offices.

“Signature industries will face difficulties in the second half of this year, and businesses that want to improve their prospects need to prepare sufficient resources to achieve their goals,” the report said. “This will lead to a lot of effort, competition and resource drain,” so businesses in the wood industry need to focus on issues such as sharing experiences, making knowledge transparent, and quickly achieving success. results – Maybank recommended.