a295  2046  27 Jan 79
AM-Lunar New Year,150
    HONG KONG (AP) - Millions of Chinese embarked on four days of
frenzied celebration as the year of the goat - or the ram - replaced
the faltering horse at midnight Saturday.
    For Hong Kong's 4.7 million Chinese, the lunar new year is the
year's most colorful and biggest party. It's a time when the thrifty
Chinese spend several months' wages on good cheer, gifts and games of
chance.
    Shops, factories, restaurants, offices, government departments and
banks will be closed for at least three days starting Monday.
    There is some dispute this year over whether it's the year of the
goat or ram because the lunar calendar character for the year,
''yang,'' can mean either. A major bank in the British colony is
displaying a mural of several grazing goats, while other businesses
display rams.
    The lunar calendar is represented by 12 animals, each of which
reigns for a year in the following fixed order: rat, ox, tiger,
rabbit, dragon, snake, horse, goat or ram, monkey, rooster, dog and
boar.
    
ap-ny-01-27 2345EST
***************