Daniel Hurley, a global stock portfolio expert at PwC, said that the Japanese stock market was previously oversold, but there is an opportunity for investors to selectively increase their exposure to the Japanese stock market, especially in stocks that are less affected by the strength of the US economy and the Japanese yen. Looking ahead, in Japan, it is important to closely monitor inflation, especially wage inflation data, as the Bank of Japan sees it as a key factor in the country's economy moving away from 30 years of deflation. Local GDP growth and more comprehensive data on consumption are still relatively healthy. A stronger yen will lower the cost of food and energy imports, which is expected to further alleviate pressure on domestic consumers. PwC noted that from a global economic perspective, key factors affecting the outlook for the Japanese yen will be US inflation, interest rates, and Federal Reserve policy. The Jackson Hole Global Central Banks Symposium will be held at the end of August, where the Federal Reserve will give speeches, reflecting its latest policy stance possibly before the September monetary policy meeting. Earlier, the Japanese stock market gave back its gains from 2024, falling by 24% in just 3 weeks. Japanese bank stocks plummeted by 20% in two days, mainly due to market expectations of lower US interest rates. The main reason for the market weakness was the US CPI (Consumer Price Index) inflation data for July, and this market reaction seems somewhat overblown. Additionally, US GDP growth data exceeded expectations. PwC stated that from a microeconomic and stock perspective, starting from the end of October, investors will focus on the third-quarter performance of Japanese and US companies. In Japan, investors will focus on healthy profit growth, as well as continuous improvements in corporate governance and shareholder returns. In the US, the focus will be on the stability of US and global consumers, the progress of artificial intelligence infrastructure development, and the significant investments in artificial intelligence by companies to drive returns.