Group 1 - The core viewpoint of the article emphasizes the ongoing recruitment efforts by Nomura Information Technology, particularly for various levels of Java backend developers, highlighting the importance of skilled professionals in the financial services sector [2][3]. - The company is actively seeking candidates for the Risk Capital Technology Department, specifically for the Associate level position of Senior Software Engineer, requiring proficiency in Java/Python and experience in capital market risk [2]. - Nomura Information Technology aims to build a strong development team that collaborates with global IT departments and business stakeholders to maintain market-leading systems, thereby supporting the overall business objectives of the Nomura Group [3]. Group 2 - Nomura is a global financial services institution established in 1925, providing wealth management, investment management, and institutional services, with a commitment to innovation and client service [3]. - The Shanghai-based Nomura Information Technology is a subsidiary of the Nomura Group, focusing on global market technology, capital risk control systems, and enterprise architecture [3]. - The primary responsibility of Nomura Information Technology is to develop and maintain robust systems that align with the group's business goals, emphasizing collaboration with various stakeholders [3].

Group 1 - The article expresses New Year greetings from Nomura Group, wishing readers a happy new year and success in the upcoming year [1][3] - It emphasizes the beginning of a new year as a fresh start, highlighting the company's anticipation of continuing partnerships and embarking on new journeys together [3]

Core Insights - The article features an interview with George Buckley, the Chief Economist for Europe at Nomura, discussing his career journey and the unique aspects of Nomura's research [1][2]. Group 1: Career Background - George Buckley has over 25 years of experience as a market economist and has been with Nomura for more than eight years, applying academic economic theories in practical settings [3][4]. - He holds a PhD and a Master's degree from the University of Bristol, where he also taught macroeconomics and econometrics [2]. Group 2: Passion for Economics - Buckley emphasizes the importance of applying economic knowledge to real-world scenarios to assist various stakeholders, including clients and media [4]. - He believes that explaining the analytical process is as crucial as presenting the final conclusions, akin to demonstrating the steps in solving a math problem [4]. Group 3: Unique Services at Nomura - Nomura offers distinctive services in Europe, including a podcast series designed for relaxed listening, which has received positive feedback from clients [6]. - The company balances speed and depth in data interpretation, providing both quick updates and in-depth analysis that uncovers overlooked insights [6]. Group 4: Focus on Asian Markets - Nomura's research heavily emphasizes Asian markets, supported by a robust research framework covering stocks and industries across Asia [8]. - The company values localized perspectives, with economists like Buckley focusing on the UK economy, enhancing client engagement through their local expertise [8].

Core Viewpoint - The report anticipates that the investment boom driven by artificial intelligence, along with more supportive monetary and fiscal policies, will continue to propel strong global economic growth in 2026 [5] Global Economic Outlook - The global economy is expected to show resilience despite trade-related disruptions and policy uncertainties, with a stable and accelerating growth pattern anticipated for 2026 [6] - Fiscal constraints will be a significant theme in 2026, with concerns over inflation and financial repression if budget deficits are not controlled [6] Major Economies Macroeconomic Outlook United States - The U.S. economy is projected to maintain resilience, leading growth among developed markets with a real GDP growth of 2.4% [8] - Labor market conditions are expected to improve, with the unemployment rate dropping to 4.0% by year-end [8] - The Federal Reserve is anticipated to lower interest rates twice in June and September 2026 [8] Europe - The Eurozone is expected to enter a more constructive phase, with fiscal policy becoming a core issue and economic growth accelerating, particularly in the second half of 2026 [9] - The European Central Bank is likely to maintain deposit rates at 2.00% as inflation remains near target levels [9] China - China's GDP growth is forecasted to slow to 4.3%, with a drop to 4.1% in the first half of 2026, followed by a rebound to 4.5% in the second half due to policy stimulus [10] - The central economic work conference has continued a stance of "moderate easing" in monetary policy [10] Japan - Japan's economy is expected to continue its recovery, with core inflation projected to fall below 2% in the first quarter of 2026 [11] - The Bank of Japan may extend the pause on interest rate hikes for an additional year [11] Other Asian Countries - Strong AI demand and the supercycle of storage chips are expected to lead to differentiated economic growth across various countries in Asia [12] - Countries like South Korea, Singapore, Malaysia, and India may see GDP growth exceeding market expectations, while Thailand and the Philippines may underperform [12]

Core Viewpoint - Nomura Information Technology is actively recruiting for various positions, particularly in software engineering, to support its global market technology and risk management systems [4]. Group 1: Job Application Guidelines - Candidates are encouraged to submit their English resumes directly to hr-china@nomura.com, specifying the preferred position in the email body [2]. - Position level requirements include Analyst (2+ years), Associate (5+ years), and Vice President (8+ years) [2]. Group 2: Job Openings - The International Markets Technology Department (GMT) is seeking an Associate Software Engineering Lead with expertise in React/Redux/AG-grid, API design, and DevOps [3]. - Responsibilities include designing and developing intuitive, high-performance trading user interfaces and implementing comprehensive testing strategies [3]. - The Risk Capital Technology Department (RCT) is looking for a Senior Software Engineer with experience in market risk, credit risk, and BI development [3]. - This role involves designing and developing various modules and models related to market and credit risk projects, collaborating with risk management teams [3]. Group 3: Company Overview - Nomura Information Technology (Shanghai) Co., Ltd. is a subsidiary of the Nomura Group, integral to the global institutional business IT department and group infrastructure [4]. - The company aims to build an excellent development team to collaborate with global IT departments and business stakeholders, maintaining market-leading systems to support the group's business objectives [4].

Group 1 - Southeast Asian exporters have increased prices for goods exported to the U.S., transferring some cost pressures to American consumers [1][5] - The UNDP predicts a potential 9.7% decline in Southeast Asia's total exports to the U.S. due to tariff-induced price increases [1][5] - Despite facing cost and profit margin pressures, Asian exports are expected to remain robust, with many countries diversifying their markets away from the U.S. [1][5][6] Group 2 - The China-ASEAN Free Trade Area 3.0 upgrade is expected to enhance cooperation in emerging fields, particularly in the digital economy [2][6] - Southeast Asian countries are looking to leverage China's expertise in green technology and high-value manufacturing to diversify their exports [2][6] Group 3 - The signing of trade agreements with the U.S. and China indicates a trend towards trade diversification among Southeast Asian nations [6] - The region's internal trade is expected to grow as countries focus on boosting domestic consumption and reducing reliance on external markets [6][10] Group 4 - Southeast Asian stock markets face challenges in attracting foreign investment due to a lack of AI-related themes and concerns over export slowdowns [12][13] - Structural reforms in the region aim to enhance market liquidity and regulatory transparency, potentially improving the attractiveness of Southeast Asian markets [14][15] Group 5 - The economic outlook for Southeast Asia remains resilient despite external pressures, with a focus on structural reforms and domestic demand improvement [17] - Countries like Malaysia and Singapore are expected to perform well due to strong domestic demand and advancements in technology sectors [13][15]

Core Viewpoint - Dr. Lu Ting, Chief Economist of Nomura China, was awarded the "2025 Annual Institutional Chief Economist" at the CFV Financial Value Annual Conference, marking his second consecutive year receiving this honor [1][3]. Group 1 - The CFV Financial Value Annual Conference is hosted by the authoritative financial media outlet, Yicai, and is influential within the industry [3]. - The award for "2025 Annual Institutional Chief Economist" highlights the recipient's significant contributions and depth of thought in the fields of China's macroeconomic and policy research [3].

Core Insights - The article highlights the role of interest rate strategists in the financial world, focusing on the growth trajectory and essential qualities required for research work in this field [1] Group 1: Rotation System - Nomura's graduate program includes a unique rotation system that occurs after onboarding, allowing new employees to systematically learn from colleagues and gain a deeper understanding of their abilities and interests [2] - This rotation mechanism helps new employees identify their most suitable career paths, laying a solid foundation for long-term professional growth [2] Group 2: Daily Responsibilities of Interest Rate Strategists - Daily responsibilities include morning meetings to summarize significant news from the previous day and forecast the upcoming day [3] - The work is divided into three main parts: research, communication with sales or clients, and report writing, which includes weekly, monthly, and thematic reports [3] Group 3: Junior Talent Board - Nomura has established a Junior Talent Board and Junior Talent Committee to bridge the gap between management and junior employees, providing guidance and support [4] - The committee organizes regular social events and collects feedback on challenges faced by employees, ensuring that their career development needs are addressed [4] Group 4: Essential Qualities for Research Work - Key qualities for research work include an exploratory spirit, curiosity, and self-reflection [6] - Maintaining optimism and a high-quality output in unfamiliar areas is crucial, as is the practice of asking questions to deepen understanding [6] - Continuous self-evaluation and improvement are vital catalysts for professional growth [6]

Group 1 - The core viewpoint is that despite the gap in AI computing power compared to overseas, China is leveraging its rich application scenarios and large user base to explore a differentiated path in AI development [2][3] - The rapid iteration of large model technology is highlighted as a key advantage for the domestic AI market, which can utilize vast consumer and enterprise data for quick application-level advancements [3][4] - China's unique advantage lies in the integration of AI applications with high-precision manufacturing, particularly in fields like autonomous driving and robotics, which is seen as a crucial breakthrough for the AI industry [3][4] Group 2 - The "stock-bond seesaw" effect is expected to continue in the short term, influenced by the current market's lack of a clear mainline [6] - The bond market is significantly affected by stock market sentiment, with daily fluctuations being minor as investors await clearer policy directions [6] - Key variables that could disrupt the current market dynamics include changes in liquidity, which may lead to rising bond yields if liquidity tightens suddenly [6]

Core Viewpoint - The article discusses the economic strategies and challenges facing China during the "14th Five-Year Plan" and the upcoming "15th Five-Year Plan," emphasizing the need for high-quality development and structural reforms to achieve the goal of reaching the income levels of moderately developed countries [5][6][8]. Economic Development Strategies - The "15th Five-Year Plan" aims for high-quality development rather than specific growth targets, focusing on resolving historical issues, enhancing industrial self-reliance, and promoting inclusive growth [9][10]. - Key conditions for achieving the goal of reaching the income levels of moderately developed countries include increasing industrial added value, promoting inclusive growth, and improving social security systems [8][9]. Manufacturing and Export Growth - China's strong manufacturing sector has been crucial for the rapid growth of exports, with an average annual growth rate of 8% over the past five years, totaling a 45% increase [15]. - The export structure has significantly upgraded, with high-value-added products increasing, making China the world's largest producer and exporter of automobiles [15][16]. Consumption as a Growth Driver - Consumption is identified as a key variable for future economic growth, with government policies like subsidies expected to continue to stimulate consumer spending [11][12]. - Increasing pension income for urban and rural residents, especially low-income groups, is seen as a significant measure to boost consumption and support economic transformation [12][13]. Addressing "Involution" Phenomenon - The article highlights the need for a collaborative approach involving market forces, industry associations, and government guidance to address the "involution" phenomenon in the economy [14][17]. Financial Sector Development in Shenzhen - Shenzhen aims to become a globally influential financial center by leveraging its proximity to Hong Kong, its manufacturing base, and its innovative environment [18][19]. - The city is focusing on integrating financial services with local industries, providing comprehensive financing support, and exploring innovative financial models suitable for emerging industries [19][20].