UBS Global Wealth Management reduces holdings in Indian and Eurozone stocks due to risks from the Iran war

Glonghui, March 24 — UBS Global Wealth Management has significantly reduced its allocation to Indian and Eurozone equities, citing these markets' higher sensitivity to oil prices and the need to lower exposure to cyclical assets given the potential for the Iran conflict to not end quickly. Suresh Tantia, Chief Investment Officer of Asian Equity Strategy at UBS Global Wealth Management, stated: “This morning, we downgraded the rating of Eurozone and Indian equities from bullish to neutral as they are more cyclical and will be more susceptible to the shock of high oil prices.” UBS’s base case scenario forecasts the Iran conflict might be resolved within 4 to 6 weeks, but the process “could be very chaotic.”