Abstrak Tujuan penelitian ini adalah menguji reaksi pasar terhadap informasi feng shui index di sekitar tanggal informasi tersebut dipublikasikan dan di sekitar liburan tahun baru imlek di beberapa pasar saham Asia, yaitu Hong Kong, Taiwan, Singapura, dan Indonesia. Dalam penelitian ini, digunakan metodologi event study untuk mengamati abnormal return saham-saham dari sektor yang direkomendasikan feng shui index satu hari sebelum hingga satu hari setelah informasi feng shui index dipublikasikan

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... dan satu hari sebelum hingga satu hari setelah liburan tahun baru imlek. Abnormal return saham-saham dari sektor yang direkomendasikan feng shui index hanya terjadi di Taiwan dan Hong Kong. Namun, tidak ditemukan perbedaan antara abnormal return sektor yang direkomendasikan dan tidak direkomendasikan feng shui index di Hong Kong, sehingga abnormal return yang terjadi di Hong Kong tidak bisa disimpulkan sebagai pengaruh dari informasi feng shui index. Perbedaan antara abnormal return sektor yang direkomendasikan dan tidak direkomendasikan feng shui index hanya terjadi di Taiwan. Karena itu, feng shui index effect hanya terjadi di Taiwan. Kata kunci: feng shui index, chinese new year effects, event study, abnormal return Abstract The purpose of the research is to examine market reaction on feng shui idex news, in several Asian market such as Hong Kong, Taiwan, Singapura, and Indonesia. This research uses event study to test the market reaction to feng shui information. This research suggest the abnormal return occured surround the event, specifically t -1 and t +1 during news announcement; and t -1 and t +1 during holiday season of Chinese New Year. Feng shui index usually recommended several Industrial sector stock that have best performance during spesific Chinese year. The result showed that abnormal return on recommended stocks only occured in Taiwan and Hongkong. However, in Hongkong market there are no differences of abnormal return between recommended stocks and non-recomended stocks. Therefore this research concluded based on Hongkong result, that the abnormal return occured lesslikely because of feng shui index information. The differences of abnormal return only occured in Taiwan, which showed that Taiwan market affected by Feng Shui index information.