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What is Same-Day Offset?
Same-day offset (day trading) refers to the trading activity where investors buy and sell within the same trading day, commonly known as "day trading" or "T+0 trading." Unlike the traditional T+2 settlement system, day trading allows traders to buy stocks today and sell them on the same day, profiting from price differences.
The Taiwan stock market originally implemented the T+2 system (settlement occurs two days after the trade), but since the introduction of on-the-spot day trading in 2014, day trading accounts for nearly 40% of trading volume in Taiwan stocks, with the number of participants increasing year by year. Many investors favor day trading mainly to avoid overnight holding risks and to quickly profit from intraday price fluctuations.
How On-the-Spot Stock Day Trading Works
Through the margin trading and short selling mechanisms provided by brokers, investors can achieve T+0 trading within the existing T+2 trading framework. Taking TSMC (TSM) as an example:
Assuming

Gold prices surged through $4150 during trading, with the market focusing on signals of slowing inflation and weakening consumer momentum.
The Consumer Confidence Index plummeted to 88.7, reflecting concerns over employment stability and real income.
Market traders assign an 82% probability of the Federal Reserve cutting interest rates by 25 basis points in December, with key economic data to be released on Wednesday.
On Tuesday, gold/USD rose by over 0.14%, mainly driven by weak US economic data. The Federal Reserve is scheduled to hold the FOMC meeting on December 9-10 (Japan time December 10-11), with expectations for rate cuts during the meeting continuing to rise. Meanwhile, falling US bond yields and a weakening dollar provide dual support, with gold/USD stabilizing around $4141 after touching an intraday low of $4109.
Weak economic data, US bond yields, and the dollar move downward in tandem
The US September inflation and retail sales data show

By the end of 2025, the Taiwanese dollar has reached 4.85 against the Japanese yen, appreciating about 8.7% from the low of 4.46 at the beginning of the year. This wave of appreciation is no coincidence—expectations of interest rate hikes by the Bank of Japan have increased, yen safe-haven buying has grown, and combined with the continuous depreciation pressure on the Taiwanese dollar, many people are starting to seriously consider exchanging for yen. But here’s a question: do you know how to exchange in the most cost-effective way?
Compared to other foreign currencies (such as the Malaysian ringgit, which is usually fixed around 0.3 with little variation), the volatility and investment opportunities of the yen are obviously more attractive. We’ve compiled four mainstream currency exchange methods, calculated with real data, to show you which one is truly the most cost-effective.
Why has exchanging for yen become a hot topic now?
Many people think exchanging for yen is just for traveling abroad, but the situation has changed over the years.
Travel and daily needs are still there, but investment attributes have become more crucial. The purchasing of Japanese pharmaceuticals, clothing, and anime merchandise remains huge, and plans to visit Japan are also increasing.

Rate hikes can't stop the yen from falling
On December 19, the Bank of Japan proceeded with its expected rate hike plan, raising the benchmark interest rate from 0.5% to 0.75%. This is the first time since 1995 that Japan's interest rate has reached this level. However, unexpectedly, after the rate hike announcement, the USD/JPY exchange rate did not rise significantly as anticipated; instead, it remained relatively high, and the market's yen buying did not materialize as expected.
Lack of clear guidance from the central bank
The phenomenon of "rate hikes not boosting the currency" stems from Governor Ueda Kazuo's overly cautious statements at the press conference. He did not specify the exact timing of the next rate hike but emphasized that interest rate decisions depend on actual economic and price data. What disappointed the market even more was that the central bank did not make any substantive commitments to adjust the neutral interest rate level (currently estimated to be in the range of 1.0% to 2.5%).
Market doubts about the pace of rate hikes
ANZ Bank's strategy

The Japanese Yen has always been the preferred foreign currency for Taiwanese when exchanging money, but did you know? Just choosing the wrong exchange channel can result in fees that are over 5 times higher. This year, the TWD to JPY exchange rate reached 4.85. To exchange Yen for foreign currency at the best timing, you first need to understand the true costs of these 4 methods.
Why is it worth exchanging for Yen? A comprehensive analysis from travel to investment
The appeal of the Yen is not only due to the convenience of traveling in Japan. From a financial market perspective, the Yen is one of the world's three major safe-haven currencies (the other two are the US dollar and Swiss franc), long regarded as a refuge for capital. During the Russia-Ukraine conflict in 2022, the Yen appreciated by 8% in one week, while the stock market fell by 10% in the same period, demonstrating the power of safe-haven assets.
For Taiwanese investors, holding Yen is not just preparation for travel; it also helps hedge against fluctuations in the Taiwan stock market. Additionally, the Bank of Japan has maintained an ultra-low interest rate (only 0.5%) for a long time, making the Yen a popular tool for arbitrage financing—investors often borrow

In the first half of 2025, the Japanese stock market experienced a strong rebound after a sharp correction in April. As we entered May and June, the rally accelerated. By the end of June, the Nikkei 225 index broke through the 40,000-point mark, reaching 40,487 points, hitting a new high in nearly a year and approaching the 33-year high. What is the logic behind this surge? Can it continue? What investment targets are worth paying attention to? How should Taiwanese investors participate?
The driving force behind the Nikkei index's new high
Valuation repair becomes the main engine
In April, global tariff policies triggered market panic, and the Nikkei index once fell to a low of 31,136 points, more than a year ago. At that time, Japan's stock market price-to-earnings ratio (PER) was only about 12 times, significantly cheaper than major global markets. As market participants gradually realized that previous pessimistic expectations were excessive, the PER gradually recovered to around 13 times. This valuation reshaping became the driver of the rebound.

Mastering the English codes of various countries' currencies is crucial for traders, enabling quick identification of currency pairs and market trends, and avoiding trading errors. The article lists the codes and symbols of major currencies, introduces commonly used shortcut keys, and reminds traders to pay attention to the distinction of currency symbols to improve trading efficiency and accuracy.

Quick Start: Practical Tips for Keyboard Input of Currency Symbols
When engaging in international financial transactions, being able to quickly input various currency symbols is a fundamental skill. Whether using Mac or Windows systems, there are corresponding shortcut key solutions:
| Currency | Code | Symbol | Mac Shortcut | Windows Shortcut |
|----------|-------|--------|--------------|------------------|
| Euro | EUR | € | Shift+option+2 | Alt+E |
| Pound Sterling | GBP | £ |

Many people say that silver is just a subordinate to gold, but market data in 2025 has firmly proven this notion wrong. Over the past year, silver has surged by over 140%, completely rewriting the narrative of the precious metals market. As we move into 2026, will silver continue its upward trend or face a correction? The answer lies not in simple price predictions but in whether the market structure still supports this rally.
Why did silver suddenly explode in 2025?
A dual-driven surge from safe-haven demand and industrial buying
Repricing of geopolitical risks, the US dollar index falling below 98, and ongoing expectations of Federal Reserve rate cuts have boosted the appeal of traditional safe-haven assets. But silver's gains far surpass those of gold, and the reasons go beyond that.
The key is the resonance between industrial demand and financial safe-haven needs. The consumption of silver in solar energy, electric vehicles, 5G, and AI data centers continues to rise, while LBMA and COMEX inventories have fallen to multi-year lows. This "semi

For Taiwanese investors looking to expand their investment portfolio, Hong Kong stocks are no longer an unfamiliar option. Compared to the surging Nikkei this year and the US stock market nearing all-time highs, the Hong Kong stock market is currently at a relatively low level, making it a treasure trove for value investors.
Why Hong Kong stocks are worth a re-examination
The Hong Kong stock market has a trading history of over 150 years and holds a pivotal position in the international financial system. As of the end of May 2025, the total market capitalization of Hong Kong stocks is approximately $5.2 trillion USD, ranking among the top in global securities markets. Its mature market regulation system and clear trading rules make it one of the fairest and most transparent stock markets in Asia.
For Taiwanese investors, the advantages of Hong Kong stocks are obvious. First, the geographical and time zone advantages are significant—Hong Kong and Taiwan have almost identical trading hours, unlike the US market which requires staying up late; second, language barriers are nonexistent, and understanding local policies and corporate developments is

The past week has seen a surge in the global commodities market. Precious metals and industrial metals have taken turns reaching new highs, with gold rising for eight consecutive days, silver experiencing an astonishing increase, and copper prices stabilizing at high levels. Is this rally a short-term fluctuation or a long-term trend?
The Numerical Story Behind the Phenomenal Rise
Since the beginning of the year, the gains have spoken for themselves. Gold has increased by 68%, silver by 133%, platinum by 129%, and copper has also risen by 36%. Just looking at silver's performance is enough to turn heads — this is not just a price increase but also reflects the market's desire for safe-haven assets.
Specifically, platinum has surpassed $2097 per ounce, reaching a new high since 2008, and palladium has broken through the $1800 per ounce mark. Behind these numbers are collective bets from central banks, investors, and even hedge funds worldwide.
Three Layers of Logic Supporting This Rally
The start of the rate-cutting cycle
The Federal Reserve has

Coinbase CEO Brian Armstrong argues that Bitcoin acts as a competitive mechanism that imposes fiscal discipline on traditional monetary systems. Rather than replacing the dollar, it serves as an alternative store of value, promoting accountability and encouraging responsible government spending through market dynamics.

The Ethereum network is experiencing rapid growth in smart contract activity, with a record 8.7 million new contracts deployed expected by Q4 2025. This surge is driven by the tokenization of real-world assets and the expansion of stablecoin operations, enhancing Ethereum's position as a preferred platform for institutional investors. Despite recent market adjustments, the increase in contract deployment indicates the network's underlying demand remains strong and suggests future growth in on-chain activity. Ethereum continues to be a central pillar in the digital asset ecosystem.

What Generates Profit
In the world of cryptocurrencies, there are ways to earn income that are unaffected by price fluctuations. This is known as the delta-neutral position strategy. In simple terms, it involves hedging price movements by holding both long and short positions, thereby profiting from both sides. This strategy is particularly effective during active market periods and provides stable returns, making it popular among professional traders and funds.
In this article, we will explain in detail how the delta-neutral strategy works, how to implement it, and provide actual revenue simulations.
What is Delta Neutral | Basic Principles of Position Construction
A delta-neutral state refers to a position that is completely insulated from asset price fluctuations.

A "cross-industry marriage" breaks the market’s existing perception
MediaTek (2454) has recently been fluctuating between NT$1,380 and NT$1,460, with short-term pressure on its stock price. However, today’s announcement of a strategic partnership with Japan DENSO, a global leader in automotive components supply chain, could become a turning point that reverses market expectations. The two parties will jointly develop next-generation advanced driver-assistance systems (ADAS) and customized system-on-chips for smart cabins. This not only signifies a major breakthrough for MediaTek in the automotive field but also hints that the market’s single label of "mobile chip manufacturer" for it is about to be rewritten.
Why is this collaboration so noteworthy? An analysis of the three major technological pillars
The combination of MediaTek and DENSO is essentially a "complementary technology + market connectivity" collaboration. MediaTek’s expertise in high-performance computing, low-power architecture, and AI acceleration perfectly complements DENSO’s standards in automotive-grade safety, system integration, and global automaker supply chains.

When it comes to financial indicators, many investors' first reaction is ROE (Return on Equity), but few truly understand this metric. This article will analyze it step by step from core concepts, the derivation of the ROE formula, its relationship with other indicators, and practical stock selection strategies to help you avoid the high ROE trap.
The essence of Return on Equity: measuring the profitability of own capital
ROE, or Return on Equity, reflects the ratio of a company's after-tax profit to its net assets. In simple terms, it shows how much money can be earned with 100 units of own capital. The higher this indicator, the more efficient the company is at utilizing its capital.
It is important to note that asset composition includes two main sources: direct investments from shareholders (share capital, capital reserves, retained earnings), and funds borrowed or temporarily occupied by the company. Reasonable use of financial leverage can improve capital utilization efficiency, but excessive borrowing

Have you ever encountered this strange situation in the stock market— a stock surges over 100% in a short period, seeming like a great opportunity, but when placing an order, you find it can't be executed at all, and margin trading is also frozen? Behind this lies an important mechanism: the Disposition Stock Mechanism.
Why would a stock be "locked down"? Understanding the operation logic of Disposition Stocks
When a stock exhibits abnormal trading behavior in a short period, the Taiwan Stock Exchange will take action. These abnormal behaviors include excessive short-term price swings, soaring turnover rates, and abnormal trading volume. If these conditions are met, the stock will be placed on a special observation list and then enter the Disposition Stock phase.
It is worth noting that stocks do not directly enter the Disposition status. They are usually first classified as Attention Stocks, which serve as a warning mechanism. When a stock triggers the Attention Stock conditions for several consecutive days and meets specific standards, it will be upgraded to a Disposition Stock, at which point trading methods will be significantly restricted. Attention Stock conditions include 3