Period 9 (jiu yun) and the five elements: a feng shui perspective on stock market performance of Malaysian listed companies

Sim, Hang (2025) Period 9 (jiu yun) and the five elements: a feng shui perspective on stock market performance of Malaysian listed companies. Final Year Project, UTAR.

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Abstract

Feng Shui, an ancient Chinese metaphysical system, is widely practiced in Malaysia across personal life, business, and investment, and has become increasingly commercialized through online courses and digital content. The rise of unregulated Feng Shui masters offering courses and merchandise raises concerns about potential scams and financial losses. Although principles such as the Five Elements theory and time-based cycles like Period 9 are widely applied in financial forecasts, empirical evidence of their impact on stock market performance remains limited. This study examines whether industries aligned with the Fire element outperform others, and whether Metal-related sectors underperform during Period 9. It also compares the performance for each of the Five Element industries between Period 8 (2004 - 2024) and Period 9 (2024 - 2044). A total of 150 Malaysian listed companies are selected from Bursa Malaysia, with 30 firms representing each element-based sector. The sampling period spans February 4, 2023 to February 3, 2025, capturing the transition from Period 8 to Period 9. Financial performance is measured using market-based indicators such as Share Return, Tobin’s Q, and Sortino Ratio, as well as accounting-based measures including ROA and ROE. Data are obtained from the LSEG database and analyzed using both parametric or non parametric techniques. IBM SPSS was used to analyse performance differences across Five Element groups and between Periods 8 and 9. Overall, the findings indicate that while some Feng Shui principles align with observed stock market performance, their effects are mixed and not consistently predictive. Investors should therefore combine Feng Shui insights with standard financial analysis, while policymakers need to monitor Feng Shui-based investment claims to protect investors.

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