This 2025 Outlook report provides a comprehensive review of 2024 and outlook for 2025 across asset classes in the US, China, Japan and crypto. While 2024 saw varied market performances with different developments in each region, the outlook for 2025, as forecasted by current market, is optimistic with anticipated stable growth influenced by policies.

This report analyses 2020-2024 share price performance and IPO capital raising trends for large-cap and small-cap companies in Hong Kong, China ADRs and Japan, noting large caps generally outperformed small caps due to better fundamentals and resilience in current volatile markets.

EquitiesFirst has partnered with private banks to offer high-net-worth and institutional investors a low-cost, non-recourse financing solution that enables clients to leverage equity and crypto holdings for liquidity while retaining upside potential. This collaboration presents a cost-effective alternative to traditional hedging, providing flexible loan terms and significant downside protection in fluctuating markets.

Hang Seng Index has strongly rebounded since September 2024, driven by monetary easing from the PBOC, relaxed property market policies and supportive actions from China’s leadership, all contributing to renewed investor confidence and market momentum in China.

FirstNews marks the release of its 50th edition. This landmark edition of EquitiesFirst’s newsletter comes at an important time as professional investors consider the risks and opportunities posed by geopolitical uncertainty and market volatility around the world. Market insights have never been more valuable than they are today. In previous editions, we covered key market trends, including global reactions to recession concerns, the rise of altcoins, and a mid-year review of 2024 markets. In this edition, we are focusing on the key drivers of Japan’s 2024 Market Performance following a series of key developments in Asia’s second-largest economy.

This report evaluates how global markets are responding to recession fears, highlighting impacts from regional economic policies. It details Japan's Nikkei 225 downturn following a rate hike, labor market slowdown in the US, gold's increased stability value, major fluctuations in crypto and the correction of Chinese stock market amidst current global uncertainty.