Overall Market Sentiment
 

Q3 2025 has shown signs of a notable recovery in the technology recruitment landscape across Hong Kong and Singapore. While macroeconomic concerns persist, the market has shown greater activity and optimism compared to earlier in the year.
 

Enhanced Activity: The demand for new roles has steadily increased, with a more consistent release of positions. However, clients are taking longer to make hiring decisions, preferring to wait for the “right” candidate. As a result, strong candidates often find themselves with multiple offers at the end of long and rigorous interview processes.
 

Positive Momentum: Although hiring volumes are not at 2022 levels, the trajectory is decidedly more optimistic than in 2024, with sustained signs of recovery visible this quarter.
 

Regional Shifts: The trend of offshoring to lower-cost locations such as Kuala Lumpur, Thailand, and the Philippines has continued, fuelled by current market conditions and firms seeking operational efficiency.
 

Buy-Side Activity
 

The buy-side sector continues to drive recruitment within financial services:
 

• Specialist Demand: There remains strong demand for C++ and Java low-latency developers, as well as Platform Engineers, DevOps, and Site Reliability Engineers (SREs), particularly in trading firms and quant houses.
   

Wealth Management and Insurance Technology
 

The drive to embed Generative AI is fundamentally reshaping talent priorities. We're seeing a dual focus: first, on internal efficiency through the automation of core functions like compliance and KYC. Second, on external growth by equipping insurance agents and customers with sophisticated GenAI-powered sales and service tools.
 

This strategic technology shift directly underpins the current war for talent. Building these solutions requires a specific blend of expertise and talents for:
 

• Software engineers for the digital platforms and AI experts to develop the models.

• Data engineers and analytics to manage the vast datasets that power these systems.

• Solution and Enterprise Architects to design scalable frameworks, alongside Innovation and Digital Product Managers to ensure these tools meet critical business and client needs.
   

Senior Appointment
 

• Leadership Roles: Demand for transformative, AI-savvy technology leaders is at an all-time high, yet CIOs and CTOs are constrained by strict budget limitations. This conflict is forcing a focus on finding leaders who can deliver maximum impact with minimal spend.

Commerce Sectors
 

• Diverging Strategies: We're observing a divergence in the technology talent market. While broader economic uncertainty is compelling some firms to implement cost-saving measures, a forward-looking segment is making strategic, aggressive investments in high-growth specialisms. The demand for talent in GenAI, computer vision, and IoT has not slowed—it has intensified.
   

Simultaneously, many organizations are attempting to restructure and upskill their existing teams. This often reveals critical capability gaps that can't be filled internally, creating a pressing need for targeted, external hires who can lead these new initiatives.
 

IT Services and Contracting Trends
 

• Renewed Confidence: The IT services sector has been more active, driven by renewed client confidence and increased project spending. This surge in activity is particularly strong within banking, insurance, and the public sector.

• However, this renewed project demand is occurring alongside constraints on permanent headcount. As a result, organizations are heavily relying on flexible talent to execute their initiatives. This dynamic is fueling exceptionally high demands on the contracting market, as businesses prioritize project delivery while managing long-term payroll costs.
   

Key Technologies in Demand
 

• Developers: Low-latency C++/Java, Fullstack Developer (Java/JavaScript/Python)

• Cloud & Infrastructure: AWS, Azure, Hybrid-cloud, Architects, AIOps, ITSM Professionals

• Data & AI: Data Engineers, AI/ML Ops, NLP, Automation

• Compliance Tech: AML/KYC, RegTech for virtual asset licensing

• Cybersecurity: Security Architect, IAM Engineers, 1.5 LOD and 2 LOD Risk Professionals

• AI Adoption: Increasingly, companies seek candidates who not only have core technical expertise but also experience with AI tools in their day-to-day work, and who can help prepare organisations to be “AI-ready” for the future.

Singapore Market Update
 

Hiring has picked up in Singapore compared to previous quarters, but overall progress remains measured. Economic uncertainties and reluctance by employers to sponsor visas are key factors slowing down the pace of recruitment.