As we bid farewell to 2024, a year marked by significant events such as the U.S. presidential election reshaping policy directions, stabilizing inflation rates, and widespread interest rate cuts—except in Japan, which ended eight years of negative interest rates—we turn our focus to the year ahead. With 2025 now here, we will highlight key sectors to watch, examine regional and global economic outlooks, and discuss the potential challenges that may shape investment decisions in the coming year.