Entering into 2024, the trade playbook maybe distinguish from last year, the following contrarian notions may be helpful for you.
China Tech--The entire Chinese stock markets were down 60% over the past two years, you can not find some people who tell you that Chinese stocks are investable. If you talk about big contrarian swing, this maybe the biggest contrarian swing that you can take. Alibaba, JD.COM. Tencent, Meituan, Baidu, they are all different sectors in Chinese economy, there are multiple problems in China. We all familiar with government cracking down against big tech companies, We all familiar with some issues they have while reopening from the Covid, we all know the relationships between China and the west.
If you think that things are so bad, there is probably more room for improvement on sentiment front, these stocks are too cheap to ignore. Their valuation gap should be closed. KWEB is 70% below its all time high, it had massive rally over the last ten year, it could again.
We don not know the catalyst would be, but if you want a contrarian, this is absolutely a contrarian.
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