Japan's fiscal surplus for the first time in 28 years is a signal strong enough to shake the global markets. Finance Minister Sanae Takaichi's statement directly points to a reality—the once "debt perpetual motion machine" economy is now shifting its mindset.

Key changes are emerging. Tokyo's December CPI fell to 2.0%, indicating a clear easing of inflationary pressures, but behind this lies a deeper dilemma: the yen remains weak, and the market is still waiting for a true reversal signal. Once the budget surplus is truly realized, a strong rebound in the yen is possible, and the global valuation logic of Japanese assets will be rewritten accordingly.

The rotation of risk assets is quietly underway. In an environment of yen weakness, gold and the crypto markets have become new safe havens for funds. Especially in ecosystems like Ethereum with low gas fees, tokens with low thresholds and high volatility have become the new battleground for aggressive traders—this is a true reflection of risk appetite adjustment.

But the real test comes from across the Pacific. The Trump administration's "America First" policy is gathering momentum, and a combination of strong growth and high tariffs will reshape global capital flows. Japan is stepping on the brakes this time, aiming to stabilize the domestic economy while also responding to financial pressures from the US—this is a high-difficulty balancing act.

A country with a continuous 28-year deficit suddenly shifting course faces inflation uncertainties and the ripple effects of US policies. Will this brake be effective? Markets are re-pricing Japanese assets. Are you ready with your allocations?