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As 2023 heads into its last month and a half, UBS outlined where its attention is focused as 2024 comes into view. The list of the company’s equity ideas includes Chinese tech and a bet on equity volatility.
See below the top ten equity ideas UBS highlighted for 2024:
No. 10: Long Japan equity calls.
No. 9: Long EU miners equities calls.
No. 8: Long U.S. small cap calls (NYSEARCA:IWM).
No. 7: Long U.S. equity volatility versus U.S. bond volatility.
No. 6: Long Korea (EWY) versus India (INDA).
No. 5: Long China tech (NYSEARCA:KWEB).
No. 4: Long UK (EWU) versus Italy (EWI) equities.
No. 3: Overweight reshoring/ friendshoring basket.
No. 2: Long defensives basket versus cyclicals.
No. 1: Long equal weighted S&P 500 (NYSEARCA:RSP) v/s Stoxx 600 (STOXX).
Looking at Wednesday’s trading, premarket action indicates little movement in the Dow (DJI), S&P 500 (SP500), and the Nasdaq Composite (COMP.IND) along with their benchmark tracking exchange traded funds (NYSEARCA:SPY), (VOO), (IVV), (DIA), and (QQQ).