Pinpoint Asia | Q2 Market Update

In Q2, the initial signs of improvement in hiring volumes diminished towards the quarter's end, with notable increases in roles related to AI, machine learning, and data science across sectors like banking and insurance. The insurance sector, particularly in Hong Kong, remained active, while hiring for permanent roles in the banking sector was subdued, with the buy side showing more activity than the sell side, mainly for replacement roles.

Banks and financial institutions focused on AI applications and governance, driving demand for roles such as Technologists, Product Owners, and Strategists. Outside these sectors, technology job openings were sluggish in Hong Kong and Singapore but showed growth in Malaysia and the Middle East, where companies explored AI use cases to streamline operations. Notably, Google is investing $2B in Malaysia, and Middle Eastern companies can now list in Hong Kong.