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MediaTek (2454) recently announced a strategic partnership with Japan's leading automotive component manufacturer DENSO to jointly develop customized system-on-chips (SoCs) for advanced driver-assistance systems (ADAS) and intelligent cockpits. This move marks the chip company's acceleration from a single mobile phone market into multiple fields. Although the stock price has recently fluctuated within the 1,380 to 1,460 TWD range due to year-end position adjustments and market volatility, the long-term valuation re-evaluation logic has gradually emerged.
Why is the collaboration between MediaTek and DENSO worth paying attention to?
For a long time, investors' assessment of MediaTek has been highly limited by its performance in the smartphone market. Whenever the global smartphone replacement cycle slows down, MediaTek's stock price tends to fluctuate accordingly. This vulnerability of relying on a single business has always been a major factor suppressing its valuation.
The collaboration driven by MediaTek CEO Rick Tsai with DENSO changes this situation. DENSO, as one of the world's leading automotive component manufacturers,

Whenever the stock market experiences significant fluctuations, investors fear the market losing control. In the US stock market, there is a mechanism that can "save the day" at critical moments — this is the circuit breaker. Its function is similar to a circuit breaker in electrical systems, automatically pausing trading when market sentiment overreacts, giving everyone a chance to cool down.
How the circuit breaker mechanism works
The name "Circuit breaker" is quite illustrative. During regular trading hours (9:30 AM to 4:00 PM Eastern Time), if the S&P 500 Index drops by a certain percentage compared to the previous trading day's closing price, trading will be forced to halt.
Specifically, the US stock market's circuit breaker mechanism is divided into three levels, with the following trigger conditions:
- Level 1 Circuit Breaker: triggered when the decline reaches 7%, pausing trading for 15 minutes
- Level 2 Circuit Breaker: triggered when the decline reaches 13%, pausing trading again for 15 minutes
- Level 3 Circuit Breaker: triggered when the decline

Public companies typically distribute a portion of their profits to shareholders through dividends after profitability. But did you know? There are two completely different ways to receive this return—one is receiving cash directly, and the other is getting more shares. Today, let's discuss the fundamental differences between these two dividend methods and which one is more beneficial for your investment.
Two Forms of Dividends: Stock Dividends vs. Cash Dividends
When a company decides to distribute dividends, there are generally two options:
Cash Dividends (Payouts): The company directly deposits cash into your account, so you receive real money. This method requires the company to have sufficient cash reserves and must not affect the liquidity needed for daily operations. Due to these strict conditions, few companies can maintain stable annual payouts.
Stock Dividends (Stock Splits): The company issues new shares to your stock account free of charge, increasing your total share count directly. This method requires less cash from the company, as long as the conditions are met

In the US stock market, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite are the three main indices, each representing different dimensions of the American stock market. Since 2025, the US stock market has shown a strong upward trend—Nasdaq has risen by 30.12% cumulatively, S&P 500 has increased by 24.56%, and the Dow Jones Industrial Average has recorded a 14.87% gain. The investment opportunities behind these three major US stock indices vary, and investors need to accurately grasp their respective characteristics to make optimal decisions.
Core Attributes of the Three Major Indices
Although all three major US stock indices reflect the overall performance of the US stock market, their calculation methods and composition differ significantly:
Comparison of Index Features
The S&P 500 index is based on 500 leading publicly traded companies, using a market capitalization-weighted method, covering about 80% of the US stock market value, and is regarded as the most authoritative tool for measuring the US large-cap market. Its industry distribution is balanced—information technology accounts for 32.5%.

The platinum market in 2025 is set for a comeback, with prices reaching a historic high of $2,381.25 per ounce. This is driven by multiple factors including South Africa's supply crisis, increased hydrogen energy demand, price comparison effects, and macroeconomic changes. However, investment risks include short-term technical corrections and demand uncertainties, making it suitable for phased deployment and understanding the fundamentals.

The appreciation of the RMB against the US dollar in 2026 has become a hot topic in the market. Several major international banks have provided forecasts with considerable imagination—Goldman Sachs expects the USD to RMB exchange rate to fall from 6.90 in the middle of the year to 6.85 by the end of the year, while Bank of America’s outlook is even more aggressive, seeing the possibility of reaching 6.80. What do these numbers reflect? Is it really achievable?
The story behind the recent breakthrough of the exchange rate psychological threshold
RMB appreciation is not a recent phenomenon. Since September 2024, this wave of appreciation has been brewing, and by December 25, it finally broke the long-anticipated 7 mark—the USD to offshore RMB (USD/CNH) fell to 6.9965, hitting a 9-month low; the USD to onshore RMB (USD/CNY) dropped to 7.0051, the strongest performance since May 2023.
Behind this upward movement are three forces driving it. First is the US

Understanding the Core Concept of the US Dollar Exchange Rate
The US dollar exchange rate reflects the value relationship of other currencies relative to the US dollar. Taking EUR/USD as an example, if the exchange rate is 1.04, it means that 1 euro can be exchanged for 1.04 US dollars. When the exchange rate rises to 1.09, the euro appreciates and the dollar depreciates; conversely, a drop to 0.88 indicates the euro depreciates and the dollar appreciates.
The US Dollar Index is a key indicator of the dollar's relative strength, calculated as a weighted average of the exchange rates of six major currencies against the US dollar: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. The index level represents the overall performance of this currency basket. It is important to note that the coordination of central bank policies can influence the index's movement; a Federal Reserve rate cut does not necessarily lead to a decline in the dollar index, as the monetary policies of related countries also need to be considered.
US Dollar Index Technical and Fundamental Analysis
Currently, the US dollar index is at its lowest level since November (around 103.

Bitcoin's rise towards $90,000 has created optimism, yet many analysts see it as a technical rebound amidst broader market fatigue. Despite some coins gaining, others fell sharply, highlighting underlying weaknesses as the market remains trapped in indecision and fear.

Two modes of dividend distribution: cash or stock?
After a listed company makes a profit, it usually returns part of the profit to shareholders, which is the concept of dividend distribution. However, there are two completely different methods of distribution:
One is to pay cash directly, called cash dividends or payouts, where the investor's account will directly receive cash. The other is to issue stock, also known as stock dividends or bonus shares, where the number of shares held by the investor will increase, and these new shares will be directly deposited into the original shareholding account.
The company's choice of method depends on its financial situation. Paying cash requires the company to have sufficient cash on hand and not affect daily operational liquidity, which is a higher threshold. Paying stock is much simpler; as long as the company meets the distribution conditions, it can proceed regardless of cash sufficiency.
When are dividends paid? And the complete distribution process
Dividends are usually officially distributed after the company releases its financial report. Taiwanese stocks typically adopt an annual distribution schedule.

Why should you pay attention to the Japanese Yen now? It's not just for traveling abroad
By the end of 2025, the Taiwan dollar to Japanese Yen exchange rate has risen to 4.85, and this is no coincidence. Besides the increasing popularity of travel to Japan, more importantly, the Yen is becoming a hedging tool for those who understand finance.
From travel expenses to financial investments, the role of the Yen is transforming. You might not know that the Yen ranks among the world's three major safe-haven currencies (alongside the US dollar and Swiss franc), often outperforming during market turbulence. For example, during the Russia-Ukraine conflict in 2022, the Yen appreciated by 8% in one week, while the Taiwan stock market fell by 10%—this demonstrates the power of safe-haven allocation.
For Taiwanese investors, exchanging for Yen is not just about shopping in Tokyo, Osaka, or vacationing in Okinawa. The deeper logic is that the Yen can help hedge against Taiwan stock market risks. Especially under the continuous depreciation pressure on the Taiwan dollar, gradually converting some funds into Yen adds an extra layer of protection.
Do you really understand exchanging Taiwan dollars for Yen?

The US stock market is regarded as the "king" in the global financial system—daily trading volume exceeds 10 billion shares, bringing together top global companies like Apple, Tesla, and Microsoft, attracting millions of investors across borders to participate. However, for many beginners, the rules, account setup, and trading methods of US stocks remain a mystery. This article will comprehensively analyze how to start participating in US stock investment from three dimensions: trading mechanisms, account selection, and investment channels.
Basic Framework of US Stock Trading
Trading Markets and Hours
The US stock market consists of three major exchanges: the New York Stock Exchange (NYSE), NASDAQ, and the American Stock Exchange (AMEX). Understanding trading hours is crucial for investors.
Standard trading hours follow Eastern Time: 9:30-16:00 during daylight saving time, and 10:30-17:00 during standard time (corresponding to GMT-5).

The NT dollar to Japanese Yen has reached a relatively high level of 4.85. This is not only a focus for travelers but also a popular option for asset allocation. Converting to Yen is no longer just a small pre-trip gesture but an important decision involving cost optimization and risk hedging.
Why is now a good time to exchange for Yen?
As one of the world's three major safe-haven currencies, the Yen holds a position comparable to the US dollar and Swiss franc. From 4.46 at the beginning of the year to 4.85 now, the cumulative appreciation is about 8.7%, which is already a considerable exchange gain for Taiwanese investors.
Practical applications of hedging
Japan's stable economic fundamentals and low debt levels make the Yen highly sought after during global market turbulence. During the Russia-Ukraine conflict in 2022, the Yen appreciated by 8% in a single week, while the stock market fell by 10% in the same period. This is a real example of Yen hedging against Taiwanese stock market risks. Compared to the volatility of emerging currency pairs like the Malaysian Ringgit to Yen, the Yen's stability is明显

Moving averages are one of the most commonly used technical tools by traders. This article will analyze the secrets of this important indicator in detail from multiple dimensions, including basic concepts, classification methods, calculation principles, time cycle selection, and practical applications.
1. What is a Moving Average? Detailed Explanation of MA
The Moving Average (MA) is the most basic indicator in technical analysis, commonly referred to as "均线" in Chinese. From the meaning of MA, it is an arithmetic average obtained by summing the price data over a specific period and dividing by the number of periods.
The calculation formula is: N-day MA = Total closing prices over N days ÷ N
As time progresses, this average value is continuously updated. When we connect these average values with a line, it forms the moving average line graph we see. For example, a 5-day moving average is calculated by summing the closing prices of the past 5 trading days and dividing by 5.
The MA's

- The Fed's 25bp rate cut is almost confirmed... Focus shifts to next year's stance
- Weak dollar and geopolitical tensions drive safe-haven demand... but the direction remains uncertain
- [Technical Analysis] Concerns of a serious correction if it breaks below $4190... Resistance at $4260
At the start of the week when Asian markets opened, gold prices(XAU/USD) repeatedly rebounded from lows and moved sideways within a range. The likelihood of a rate cut by the Fed increased, leading to a buying sentiment at lower prices, while the weak dollar and geopolitical tensions support gold's status as a safe haven.
From a technical perspective, the current situation is in a sensitive phase.

Leverage trading amplifies gains and risks by using a small amount of margin to control larger positions. Margin is the financial guarantee, while leverage is the credit limit. Trading instruments include futures, options, leveraged ETFs, and CFDs. Beginners should start with low leverage, set stop-losses, control individual trade risk, be aware of hidden costs, trade cautiously, and avoid liquidation and losses.

Hong Kong Stock Market Fundamentals
Hong Kong, as an international financial center, holds a pivotal position in the securities market. As of May 2025, there are over 2,620 companies listed on the Hong Kong Stock Exchange, with a total market capitalization of HKD 38 trillion. Well-known companies such as Tencent, Alibaba, and BYD are all listed on the Hong Kong Stock Exchange, and these companies have become the preferred targets for many investors to allocate Hong Kong stock assets.
So, where can you buy Hong Kong stocks? First, you need to understand the core mechanisms of trading Hong Kong stocks.
Detailed Explanation of the Hong Kong Stock Trading Mechanism
Trading Schedule
The Hong Kong Stock Exchange trading is divided into three phases:
- Opening Auction: 9:00-9:30 AM
- Continuous Trading: 9:30 AM-12:00 PM, 1:00-4:00 PM
- Closing Auction: 4:00-4:10 PM
The buy and sell rules vary during different periods, and investors need to adjust their strategies flexibly according to the trading session.
Core Trading System
Hong Kong stocks

If you trade US stocks, then US stock futures are definitely worth understanding. Many people think futures are complicated and risky, so they shy away, but in reality, once you grasp the basics, they can be powerful tools for hedging risk and locking in profits. This article will give you a comprehensive understanding of US stock futures.
What exactly are US stock futures?
Futures contracts are essentially a promise: the buyer and seller agree to buy or sell a certain asset at a specific price at a future date. The easiest example to understand is commodity futures — for example, you buy oil futures today at $80 per barrel for delivery in three months, meaning you must take delivery of 1,000 barrels at that price in three months. If the oil price rises to $90, your contract has appreciated in value.
The logic of US stock futures is exactly the same, except the underlying asset shifts from commodities to stock indices.
When you buy US stock futures, you are essentially trading the value of a basket of stocks, which is calculated using this formula:

As global capital markets become interconnected, more and more Taiwanese investors are turning their attention to the US stock market. However, to participate in US stock trading, the first step is to choose a suitable US stock trading platform. With a wide variety of US stock trading platforms available, how should you choose? This article will provide an in-depth analysis from dimensions such as platform security, trading fees, and service quality to help you find the most suitable US stock platform.
Core Criteria for Choosing a US Stock Platform
In overseas investments, safety always comes first. To evaluate the strength of a US stock platform, the first thing to look at is whether it has obtained licenses from authoritative regulatory agencies. Regulatory agencies such as the US Financial Industry Regulatory Authority (FINRA), the US Securities Investor Protection Corporation (SIPC), and the Australian Securities and Investments Commission (ASIC) are globally recognized regulators. If a platform holds licenses from these agencies, it means your funds are protected even if the broker goes bankrupt.
Next, consider the variety of trading products.

Last week, the US dollar strengthened significantly, with the US Dollar Index rising by 0.93%. Non-US currencies collectively declined, especially the Japanese Yen and Australian Dollar. Divergent views within the Federal Reserve on interest rate cuts, coupled with changes in non-farm payroll data, caused market confidence to fluctuate. The Yen's depreciation was influenced by expectations of Japanese fiscal stimulus, and government intervention may be imminent. Moving forward, the market should pay attention to Federal Reserve policies and Japanese government developments.