The ancient Chinese geomantic practice of feng shui still carries huge influence in Hong Kong, with its philosophy permeating all aspects of society and the economy in this money-driven territory of gleaming office towers.

Under the feng shui system, the auspicious positioning of objects is believed to ensure harmony, health and fortune. Many in Hong Kong resort to feng shui when making almost all important decisions, especially in choosing and configuring sites and structures, to ensure good luck, especially when it comes to making money.

One Japanese woman living in Hong Kong said feng shui has come to affect just about every important decision for her family, including the selection of the day of her marriage to a local man and the name of their child.

How seriously people in Hong Kong take this tradition can be seen in the big holes deliberately made in the sides of buildings and in the popularity of wells.

Feng shui is also popular in the traditional commercial centers of South China and Fujian Province, according to a woman from mainland China. But it is more widely practiced in Hong Kong, she said.

The territory’s status as a leading international financial center, where money flows fast and in huge sums, has had a snowball effect on the popularity of feng shui.

Hong Kong has produced legions of mega-rich self-made tycoons, including the legendary Li Ka-shing.

It is quite common for business magnates in the city to be ardent believers in the ancient practice. Inevitably, this has created a big market for feng shui experts.

Ma Juncheng is a feng shui master who also has an MBA and specializes in providing investment advice. Ma said he often receives requests from the wealthy for his advice concerning real estate.

Crystals are key tools in practicing feng shui. Chen Hao-en, the owner of a famous crystal shop in Hong Kong, said crystal ornaments can be found in the homes of most people with money to spend. Many multimillionaires also wear bracelets and other accessories made of crystal, he added.

Louie Shum Chun-ying, a famous stock analyst and feng shui adherent in Hong Kong

Chen has earned a reputation as a trusted crystal adviser and now operates in mainland China and Taiwan as well.

Feng shui is also seen as an important decision-making tool by many of Hong Kong’s professional investors.

Louie Shum Chun-ying, a renowned stock analyst, is a known enthusiast. Shum, who has been practicing feng shui for more than a decade, said he makes considerable use of the system for private stock investment decisions.

Every year, major Hong Kong-based investment bank CLSA announces its stock market forecasts based on feng shui principles before Chinese New Year. Using the Chinese theory of five elements, the company predicts stocks that are likely to perform well in each of the four seasons.

But just how reliable are feng shui-guided predictions?

In his 2015 book, Ma predicted that 2016 would be a turbulent year marked by many surprising political developments and wild stock market fluctuations around the world.

Well, Britain’s surprise vote to leave the European Union and the outcome of the U.S. presidential election certainly do not disprove his predictions.

Chen, the stock analyst, predicted that stocks related to finance and gold will perform well in 2017 because, among the five elements, it is gold that will have strong influence during the year.

He also said the year will bring some bad news for Europe as west will be an unpropitious direction. The possibility of the collapse of the EU cannot be ruled out, he warned.

The Japanese economy, on the other hand, will be in fine shape as east is the favorable direction.

Shum, the crystal business owner, said global markets will perform relatively poorly in the first half of the year but will stabilize in the second half. But he warned that the British pound could weaken further.

In the current volatile economic climate, any investments based on their advice would inevitably be hostage to fortune. One thing that is certain, however, is that feng shui-based prognostications will continue to be at the forefront of Hong Kong investors’ decisions.