日本首相高市早苗提出的财政政策引发的担忧加剧（1月19日，Reuters） 海外投资者对日本市场的看法出现分歧。围绕2月的众议院选举，日本朝野各党均提出消费税 减税的方案，导致财政担忧加剧，日本国债被持续卖出。另一方面，由于对经济增长的期 待，对股市的乐观情绪并未改变。我们探寻了推动"高市行情"的海外投资者的真实想法。 日本国债交易员因财政担忧而被"卖出" 关于日本国债，从海外投资者那里听到的大多是"卖出"。围绕2月的众议院选举，日本朝野各 党均提出消费税减税的方案，导致财政担忧加剧，日本国债被持续卖出。另一方面，对日本 股市的乐观情绪并未改变…… 关于日本国债，从海外投资者那里听到的大多是"卖出"。 美国波士顿的投资咨询公司Alpha Management创始人表示："自去年4月以来，我们把日本 国债（JGB）期货维持在100%空头（卖出）仓位"。他还表示也在向客户推荐卖出日本国 债。 伦敦一位交易员表示："卖出日本国债的交易异常火热，甚至出现一些具有亚洲债券交易经验 的人才被某主权财富基金（SWF）以优厚条件挖走的情况"。 日本长期利率此前随着持续通胀和日本央行加息而逐步上升，在高市政权成立、对财政扩张 ...

日本央行在2025年12月的政策会议上刚刚决定加息，短期内将继续观察其对经济和物价的影响…… 日本央行在2025年12月的政策会议上刚刚决定加息，短期内将继续观察其对经济和物价的影响，同时也 维持了继续推进加息的立场。 在9名政策委员中，审议委员高田创认为物价稳定目标已基本实现，在海外经济处于复苏阶段的背景 下，物价上行风险较高，因此反对维持现状，提出将政策利率上调至1.0%。该提议因反对票占多数而 被否决。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com 视频号推荐内容： 日本银行（央行）在1月23日召开的货币政策会议上决定，将作为政策利率的无担保隔夜拆借利率诱导 目标维持在0.75%不变。考虑到政府的经济对策以及持续加薪等因素，日本央行上调了对2026财年经济 增长率和消费者物价涨幅的预期。 ...

Group 1 - The article emphasizes the importance of improving service quality in domestic enterprises, particularly in the context of Japan's advanced service standards [7] - It highlights the initiative by Dongfang Publishing House to publish a series of books focused on service details, aimed at enhancing the service quality in both manufacturing and service industries [7][8] - The series plans to publish 100 books, featuring high-quality literature from Japan's service sector, which has already seen several titles released that are well-received by readers [8] Group 2 - The article introduces Nikkei BP, a leading B2B media company in Japan, established in 1969, focusing on management, professional technology, and lifestyle [3] - It notes that Nikkei BP is part of the Nikkei Inc. media group, which is recognized for its expertise in various business fields [3]

Core Viewpoint - The U.S. Department of Commerce has relaxed its export policy for NVIDIA's AI semiconductor "H200" to China, shifting from a ban to a licensing system, raising questions about China's previous "self-reliance" strategy under restrictions [2][4]. Group 1: U.S. Policy Changes - The U.S. has allowed the export of the H200 semiconductor, which has led to a rise in Chinese tech stocks, indicating market optimism about these companies accelerating their AI development [5]. - NVIDIA's CEO Jensen Huang noted strong demand from Chinese customers for the H200, highlighting the importance of this product for AI model training [4]. Group 2: China's Response and Strategy - China has not officially responded to the U.S. policy change but is reportedly developing import acceptance rules, including total procurement amounts [4]. - Experts suggest that China may be reluctant to approve imports of U.S. products, as the government aims to promote "self-reliance" in high-tech sectors and reduce dependency on American supply chains [6]. Group 3: Domestic Developments in China - China is making strides in achieving self-reliance in the AI supply chain, particularly in semiconductor technology, with ongoing efforts to develop domestic EUV lithography equipment [7]. - The stock market has reacted positively to the prospects of semiconductor self-sufficiency, with companies like SMIC and Hua Hong Semiconductor seeing significant stock price increases [7].

Core Viewpoint - Bitcoin has experienced significant volatility, with a notable drop following President Trump's announcement of potential tariffs on European countries, reflecting increased distrust in the cryptocurrency market [2][7]. Group 1: Bitcoin Price Movements - Bitcoin reached a peak price of approximately $97,500 in mid-January, but subsequently fell sharply, nearly negating its early-year gains [2][5]. - Following Trump's tariff announcement on January 16, Bitcoin's price began to decline, dropping to around $87,000 by January 22, which is below the expected price for the end of 2025 [7]. - The price drop was attributed to a decrease in risk appetite among investors, paralleling declines in the stock market, with the Dow Jones Industrial Average falling by 870 points [7]. Group 2: Market Sentiment and Trust Issues - The perception of Bitcoin as "digital gold" is weakening, as indicated by analysts, amidst growing distrust in the cryptocurrency market [7]. - The stablecoin "USDe" experienced a significant drop in value, leading to forced liquidations for investors using it as collateral, further eroding trust in the market [7]. - A hacker incident in early November also contributed to a bleak outlook for the cryptocurrency market, with significant outflows from Bitcoin-related exchange-traded funds (ETFs) [8]. Group 3: Regulatory Developments and Future Outlook - The U.S. Congress has initiated discussions on the "Clarity Act," which could facilitate larger financial institutions' involvement in the cryptocurrency sector, potentially boosting market confidence if passed [8][9]. - The upcoming midterm elections in November may influence the Trump administration to advance policies that support the cryptocurrency industry, which could help alleviate distrust [9]. - For Bitcoin to solidify its status as "digital gold," it would need to see increased holdings by national governments, similar to the demand that supports gold prices [9][10].

Core Viewpoint - The performance of Chinese rare earth companies is on the rise, driven by supply concerns amid US-China tensions, leading to increased market prices and improved profit margins for these companies [2][6]. Group 1: Company Performance - The total market value of Northern Rare Earth Group has increased to 2.4 times by the end of 2024, exceeding 180 billion yuan [2][7]. - Northern Rare Earth Group's net profit for the fiscal year 2025 is expected to reach at least 2.1 billion yuan, doubling from the previous year's 1 billion yuan [5]. - The overall sales and profits in the rare earth industry are expanding, with net profits for 47 related companies in the first nine months of 2025 already matching the total for the entire year of 2024 [6]. Group 2: Market Dynamics - Concerns over supply due to US-China tensions have led to a significant increase in rare earth prices, with dysprosium prices reaching over 935 USD per kilogram, more than three times the level before export controls [6]. - China holds approximately 50% of global rare earth reserves, 70% of production, and 90% of refining capacity, indicating a strong market position [6]. - Analysts predict that Northern Rare Earth Group's net profit could reach 4.1 billion yuan by the fiscal year 2027, nearly doubling from 2025 [6]. Group 3: Strategic Developments - The Chinese government aims to develop Baotou into the largest rare earth new materials base in the country, leveraging its significant reserves of light rare earths like neodymium [4]. - The US Department of Defense has invested 400 million USD in MP Materials, indicating a strategic shift to reduce reliance on Chinese rare earths [9]. - China is expanding its production quotas while implementing strict production limits, suggesting a dual strategy to maintain market dominance [9][11].

Core Viewpoint - Foxconn and Mitsubishi Fuso will establish a joint venture to produce Foxconn's EV buses in Japan, aiming to accelerate the adoption of EVs in the country, which has lagged behind in the EV and autonomous driving sectors due to increasing competition from Chinese and American companies [2][4]. Group 1: Joint Venture Details - The joint venture will be equally funded by Foxconn and Mitsubishi Fuso, with plans to establish the new company in the second half of 2026 [4]. - Production will take place at Mitsubishi Fuso's only domestic bus manufacturing facility in Toyama, which will also handle the development and production of existing diesel buses [4]. - The goal is to secure orders for the EV bus "Model T" by 2027 and expand the product line to include the EV microbus "Model U" [4]. Group 2: Industry Context - The automotive industry is a core sector in Japan, contributing approximately 10% to the country's GDP and supporting employment [11]. - Japanese automakers are facing challenges in maintaining competitiveness, particularly in the EV and autonomous driving markets, as foreign companies increasingly take on roles in industry restructuring [5][8]. - The introduction of high tariffs and protectionist policies in the U.S. has altered the operational environment for Japanese automakers, making local production more critical [8]. Group 3: Market Dynamics - The EV bus market in Japan is currently dominated by BYD, which holds the largest market share, while the overall penetration of EV buses remains below 1% of the total bus fleet [12]. - The Japanese Bus Association aims to introduce 10,000 EV buses by 2030, a significant increase from 2024 levels, indicating substantial growth potential in the market [12]. - Despite the high costs associated with EV buses, which are over 50% more expensive than diesel counterparts, the fixed routes and charging convenience make them suitable for public transport systems [12].

对于山上徹也，她表示："希望你能正视自己的所作所为，为夺走我无可替代的丈夫的生命这 一罪行赎罪"。她还写道："今后我也会向前看，继承丈夫的遗志，珍惜过好每一天"。 安倍昭惠曾利用被害者参与制度，出席过被告的庭审。在2025年12月的论告求刑庭审中，法 庭宣读了她的书面陈述，其中写道："丈夫的突然离世带来的冲击过于巨大，我的大脑一片空 白，很长一段时间都像在梦中一样"。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 1月21日，日本前首相安倍晋三的妻子安倍昭惠就山上徹也被判无期徒刑一事，通过代理人发 表声明称："自丈夫突然离世以来，漫长的岁月划上了一个阶段性的句号"。 日经中文网 https://cn.nikkei.com 安倍昭惠 相关报道： 安倍昭惠通过代理人发表声明称："自丈夫突然离世以来，漫长的岁月划上了一个阶段性的句 号"。对于山上徹也，她表示："希望你能正视自己的所作所为，为夺走我无可替代的丈夫的 生命这一罪行赎罪"…… 枪击安倍晋三的山上徹也被判无期 山上徹也的人生：母亲、教会、枪击安倍 山上徹也刺杀安倍筹备了1年多 山上徹也走上枪击安倍之路背后 ...

台湾电子巨头鸿海精密工业和日本三菱扶桑卡客车1月22日宣布，将成立涉足巴士业务的合资 公司。将在三菱扶桑巴士制造（富山县富山市）的工厂生产鸿海集团开发的纯电动巴士。鸿 海将在日本确保生产基地，增强纯电动汽车的竞争力。 鸿海和三菱扶桑曾于2025年8月宣布在纯电动巴士领域展开合作。鸿海一直通过代工汽车设 计和制造的商业模式，开拓海外制造商的需求。 鸿海曾考虑收购日产汽车决定停产的追浜工厂（神奈川县横须贺市）。对于力争扩大纯电动 汽车业务的鸿海来说，确保在日本的生产基地曾是待解决课题。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 计划2026年下半年成立新公司。新公司的社长由三菱扶桑的本部长高罗克人担任。将把鸿海 拥有的纯电动汽车技术与三菱扶桑的生产经验等相结合，在日本开展纯电动巴士业务。 富山县的工厂是三菱扶桑唯一一个在日本国内生产巴士的基地。此前的柴油巴士的研发和生 产也将由新公司负责。 在台湾运行的鸿海电动巴士 计划2026年下半年成立合资公司，把鸿海拥有的纯电动汽车技术与三菱扶桑的生产经验等相结合，在日 本开展纯电动巴士业务。鸿海将在日本确保生产基地，增强EV竞争力…… 日经 ...

2025年12月中国访日游客减少45％ 原创 阅读全文 日经GO ...