Mabrouk Chetouane, the Global Market Strategy Director at BNP Paribas Wealth Management, pointed out that the Japanese stock market has recently experienced ups and downs. In times of heightened market anxiety, frequent adjustments to investment portfolios often lead to decision-making errors, compromising investment returns. However, the Japanese stock market has now begun to recover, and with market volatility gradually stabilizing, it is expected to continue to rebound. BNP Paribas' investment committee believes that investors should gradually adjust their global stock allocation to a "neutral" level. As the current economic cycle is not sufficient to support the expected growth in corporate profits, BNP Paribas plans to reduce its allocation to the US, Europe, and Japanese stock markets until clearer signs of improvement in the economic cycle emerge. In the medium term, confidence in the Japanese stock market remains strong as Japanese capital markets are inherently more stable and offer higher market visibility.