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On December 19th, the Bank of Japan raised interest rates by 25 basis points as scheduled, bringing the benchmark rate to 0.75%, a new high since 1995. However, surprisingly, this hawkish move did not strengthen the yen; instead, the USD/JPY exchange rate rose in response, and the market's reaction was unexpected.
Unclear signals from the rate hike left the market disappointed
Governor Kazuo Ueda adopted a relatively cautious stance at the subsequent press conference. Although the central bank's statement indicated that it would continue to raise rates if economic and price outlooks met expectations, the governor did not provide a clear timeline for future rate hikes that the market was hoping for. Particularly regarding the definition of the neutral interest rate level (currently estimated to be in the range of 1.0% to 2.5%), he stated that it is difficult to determine in advance and plans to adjust when appropriate.
This ambiguous stance has led to differing interpretations among market participants regarding the central bank's future policy direction. Strategist Masahik

What is the difference between a limit order and a market order: how to distinguish these two types of trading orders?
When trading stocks or forex, the most common concepts encountered are market orders and limit orders. The fundamental difference between these two types of orders lies in the authority to determine the price.
A market order is executed at the final transaction price determined by the market. When you choose a market order, you do not need to manually input a specific price; the trading system will execute immediately at the current market quote. For example, if the current buy price of EUR/USD is 1.12365 and the sell price is 1.12345, placing a market buy order will execute at 1.12365.
However, there is a point to note—due to real-time market fluctuations, the final transaction price may differ from the quote seen when placing the order. This phenomenon is called "slippage."
A limit order is set by the trader to specify the transaction price. Simply put, a limit order means you set a maximum or minimum price, and the order will only be executed when the market price reaches or

Dividends Refill Meaning: The stock price returns to the level before the dividend payout
Many investors mention the concept of "refilling" (填息), but not everyone truly understands the core meaning of refilling. In simple terms, refilling refers to the process where, after a company distributes dividends, the stock price rises back to the closing price of the trading day before the dividend was paid.
When listed companies enter the peak dividend season, this phenomenon becomes particularly noticeable. Investors buy stocks before the dividend payout, expecting to receive dividends, but if the stock price fails to recover to its original level before the payout, they are effectively obtaining the dividend at a "discount." Only when the stock price fully refills to 100% can investors be considered to have truly received the full dividend they are entitled to.
Differences Between Dividend Payout and Stock Distribution and the Price Adjustment Mechanism
Listed companies have two main forms of profit distribution: cash dividends (配息) and stock dividends (配股). Suppose a stock's closing price before the dividend payout is 100 yuan, with a dividend of 3 yuan per share. After the ex-dividend date, the stock price will automatically adjust to

Quickly Master the Core Concepts of ADR
ADR (American Depositary Receipt) is the main tool for foreign companies to enter the US stock market. When foreign enterprises want to list and trade on US stock exchanges, a common method is to issue ADRs. US depositary banks issue these certificates on behalf of foreign companies, allowing investors to buy and sell them on trading venues such as NASDAQ, NYSE, and OTC.
In simple terms, an ADR is a stock representation issued by a foreign company in the US. US investors can conveniently trade international company stocks without opening foreign accounts or exchanging foreign currency. For foreign companies, issuing ADRs is simpler and less costly than directly going public.

Last Week Market Scan (12/15-12/19)
Last week, the foreign exchange market showed clear divergence. The US dollar index closed up by 0.33%, with non-dollar currencies showing mixed performance. The Japanese yen was under the most pressure, falling 1.28% for the week; the euro declined by 0.23%, and the Australian dollar fell by 0.65%, while the British pound saw a slight increase of 0.03%.
Yen Depreciation Accelerates, Signals of Policy Intervention Emerge
The USD/JPY saw the largest increase last week, rising 1.28%, mainly due to the market’s "dovish" reaction to the Bank of Japan’s rate hike decision.
Although the Bank of Japan raised its policy interest rate by 25 basis points as scheduled, Governor Ueda’s remarks at the press conference were cautious, failing to send the strong signals the market expected. More significantly, Prime Minister Sanae Suga’s cabinet immediately announced a fiscal stimulus package worth up to 18.3 trillion yen, directly weakening the tightening stance of the central bank.
Depreciation Expectations Diverge
Market expectations for the future of the Japanese yen against the US dollar

As the timeline reaches the end of 2025, the TWD to JPY exchange rate hovers around 4.85. Travel demand to Japan has rebounded, and more people are investing in yen. But do you really need to go to the bank to exchange yen? How can you exchange 50,000 or 100,000 TWD in the most cost-effective way? We break down four common exchange options on the market to show you the cost differences of each.
How much JPY can you actually get for 10,000 TWD?
Using an exchange rate of 4.85 TWD to JPY, 10,000 TWD can be exchanged for about 48,500 JPY (cash selling rate). If you use an online spot rate of approximately 4.87, you can get about 48,700 JPY, a difference of about 200 JPY (equivalent to 40 TWD).
It seems similar, but there's a hidden story behind the numbers: cash rates are 1-2% worse than spot rates, plus bank handling fees. Exchanging 50,000 TWD at once could result in a loss of between 500 and 2,000 TWD.
Four major JPY exchange channels fully compared
Channel 1:

Like investing in stocks, forex trading must be conducted through legitimate brokerage platforms. Choosing a compliant, secure, and easy-to-operate platform is the first step to success for forex trading beginners. Once you choose a scam or unregulated platform, not only could your invested funds be lost entirely, but your personal privacy and financial security could also face serious threats. So, how can you determine whether a forex trading platform is trustworthy?
How to assess the safety and reliability of a forex trading platform
When selecting a forex trading platform, you need to consider the following core factors:
1. Regulatory licenses and compliance
This is the primary criterion for judging whether a platform is trustworthy. Legitimate forex platforms must obtain licenses from well-known financial regulatory authorities, such as the UK FCA, Australian ASIC, Singapore MAS, etc. Obtaining these licenses requires meeting extremely strict conditions:
Capital requirements: The platform must have sufficient registered capital to support its operations

Policy divergence is the core driver of the strengthening exchange rate
The Australian dollar against the US dollar has recently shown strong performance. On December 29, AUD/USD rose to 0.6727, the highest level since October 2024. As of December 30, the quote was 0.6706. Since the beginning of the year, the Australian dollar has appreciated by 8.4% against the US dollar, making it one of the best-performing G10 currencies recently.
The surge behind this is due to a clear divergence in monetary policy between the Reserve Bank of Australia and the Federal Reserve. Australian inflation pressures have reignited, and the December meeting minutes released hawkish signals, leading the market to broadly expect the RBA to start raising interest rates in 2026. In contrast, the Fed's rate-cut cycle is still ongoing, with the market expecting two more rate cuts in 2026. This policy expectation gap directly supports the strength of the Australian dollar.
Commodity Bull Market Boosts, Australia Benefits the Most
Resource out

Similar to stock investing, forex trading also requires execution through a broker platform. Choosing the right platform directly affects fund security and trading experience. If you accidentally fall into a blacklisted or fraudulent platform, not only could your principal be lost, but your personal financial information may also be at risk. So, how can you scientifically select a forex trading platform?
Three Core Dimensions to Identify a Legitimate Forex Trading Platform
1. Regulatory License and Compliance
This is the primary consideration. Legitimate forex trading platforms must obtain licenses from reputable financial regulatory authorities. Common internationally recognized regulatory agencies include:
UK Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS), etc. Licensed platforms need to meet strict standards:
- Capital Adequacy Requirements: The company must maintain sufficient proprietary funds, usually in the range of hundreds of thousands to millions of dollars, to cope with market fluctuations.

Why Have Crude Oil ETFs Become a New Favorite Among Investors?
Crude oil, as the most active commodity in global trading, plays a vital role in international markets. Traditional methods of crude oil investment include futures, funds, stocks, and other channels. However, in recent years, crude oil ETFs have gradually become the preferred tool for retail and institutional investors due to their flexibility and ease of operation.
Crude oil ETFs do not require investors to hold physical crude oil directly. Instead, they track crude oil futures prices or specific indices indirectly by holding crude oil futures contracts, forward contracts, or swap products. This design allows ordinary investors to participate conveniently in the crude oil market. Since ETFs are listed and traded on exchanges, buying and selling are no different from regular stocks, significantly lowering the barrier to participation.
It is worth noting that the emergence of inverse ETFs and leveraged ETFs has made investment strategies more diverse. Investors can achieve 2-3 times long or short positions, with 2x leveraged products being the most popular.

The US stock market, with its large scale, ample liquidity, and well-established system, has become a preferred asset allocation channel for investors worldwide. It attracts millions of overseas investors annually, with a trading volume exceeding hundreds of billions of dollars. So, for investors looking to trade US stocks, how exactly should they get started? This guide will break down every step of trading US stocks in detail from three perspectives: market rules, account opening options, and investment strategies.
Must-Know Trading Rules for US Stock Trading
The Three Major US Stock Exchanges and Trading Hours
The US stock market consists of three main exchanges: the New York Stock Exchange (NYSE), the Nasdaq Stock Market (NASDAQ), and the American Stock Exchange (AMEX). These three exchanges host the world's top listed companies.
The trading hours for US stocks are set as follows:
Regular trading hours: Monday to Friday, Eastern Time, during daylight saving time from 9:30 AM to 4:00 PM

The threshold for Bitcoin mining has significantly increased by 2025, and individual miners face fierce computational power competition, rising costs, and regulatory pressures. Mining is no longer a "free" game; it requires substantial investment of funds and resources. It is recommended that ordinary users prefer to directly purchase Bitcoin or participate in low-risk investment options.

The explosive popularity of generative AI is no longer news. Since the advent of ChatGPT, the AI-related industry chain has been fiercely pursued by the capital market, and the stock prices of companies involved in the AI field have soared — some even multiplying several times in valuation before their performance has caught up.
The question is: can you still invest in AI stocks in 2025? Which AI stocks are worth paying attention to?
What exactly are AI concept stocks?
First, you need to understand a basic concept. AI (Artificial Intelligence) essentially means enabling machines to have thinking abilities similar to the human brain — learning new things, reasoning and judging based on existing information, solving complex problems, understanding and generating language. Siri, ChatGPT, and autonomous driving are all within this scope.
AI concept stocks refer to listed companies whose business is closely linked to AI technology. They may specialize in AI chips, or they could be server suppliers, cloud providers,

On December 26, a major sell-off of 20.1 million '67' tokens in the Solana meme coin ecosystem caused the token price to plummet by 74%. The seller incurred a $290,000 loss as liquidity collapsed, resulting in significant market impacts and exposed retail traders to heavy slippage.