Why are small investors all playing with fractional shares?
In the Taiwanese stock market, fractional share trading has become the mainstream choice for small-scale investors. Unlike traditional full shares (1 lot = 1000 shares), fractional shares allow investors with limited funds to enter the market flexibly, with a minimum purchase of just 1 share of a desired company. Since the exchange opened intraday fractional share trading on October 26, 2020, this investment tool has become increasingly practical.
What are fractional shares? How are they generated?
Fractional shares refer to stocks less than 1000 shares, with the minimum trading unit being 1 share. They are usually generated in the following situations:
- When investors place buy orders and the price fluctuates too quickly, causing the order not to be fully executed
- During dividend or stock distribution processes, resulting in leftover shares
- When investors actively purchase fractional shares during after-hours trading
In simple terms, fractional shares are "stock leftovers" transactions, with each order not exceeding 999 shares.
Fractional share trading hours and exchange

Today, the global financial markets are volatile due to concerns over geopolitical tensions. Precious metal prices hit new highs, with silver surpassing $66 and gold also rising; crude oil rebounded 2.43% due to supply easing; US tech stocks performed well, with Tesla reaching a new all-time high; UK inflation was below expectations, putting pressure on the pound; the market is focused on potential policy signals from Federal Reserve officials' speeches.

On December 9th, US stock futures diverged, with Nvidia's stock price rising due to chip sales to China, while Tesla declined. The United States is about to release employment data, which is expected to boost the US dollar. The Reserve Bank of Australia kept interest rates unchanged but signaled a hawkish stance, prompting the Australian dollar to rise. Gold and silver prices collectively rebounded, while Iraq's increased production pressured crude oil prices downward. Moving forward, close attention should be paid to the interaction between the US dollar exchange rate, employment data, and asset prices.

December 10, 2025, the TWD to JPY exchange rate reaches 4.85, and travel to Japan and JPY investment demand heats up again. Want to exchange for Japanese yen but don't know where to start? This article summarizes the four most common exchange channels in Taiwan, including specific handling fees, exchange rate differences, and how to smartly choose the best options for small denominations like 2000 yen bills.
First, understand: what is the difference between cash exchange rate and spot exchange rate?
To accurately calculate currency exchange costs, you need to understand two core concepts.
Cash exchange rate is the buying and selling price set by banks for physical banknotes, suitable for on-site exchange before going abroad. The downside is that it is 1-2% higher than the international market price, plus possible handling fees, making the overall cost relatively high.
Spot exchange rate is the market price settled T+2 (within two business days) in the foreign exchange market, mainly used for electronic account transfers. Since it is close to the actual international market rate, it is usually 0.5-1% better than the cash exchange rate. This is also why...

Medical biotechnology stocks have investment potential due to global aging populations, the rise of new therapies, and telemedicine. This industry is highly counter-cyclical and influenced by FDA approvals, with valuations typically based on future expectations. The US healthcare market has clear development advantages, but Taiwanese biotech stocks are relatively weaker. Investing requires professional knowledge, and it is also recommended to pay attention to trends in US healthcare stocks.

The core question of day trading: How many times can you trade in a day?
Many traders new to day trading have this doubt—how many times can you trade stocks in a day? The answer is: in theory, there is no limit, but in practice, it is constrained by multiple factors.
The Taiwan stock market adopts a T+2 trading system, but through the broker's margin financing and securities lending mechanisms, investors can achieve T+0 trading (also known as Day Trading). Based on the practical operation since Taiwan stocks have allowed real-time trading, as long as buy and sell transactions are completed within the same trading day, it counts as one day trade. In theory, a trader can execute multiple buy and sell operations during the trading session—buying and selling once in the morning, once at noon, and once in the afternoon, with no limit on the number of trades.
However, the actual situation is much more complex than the theory.
The true limitations of day trading frequency
Capital and leverage restrictions
Although the number of day trades itself is not limited, your available funds are

The actions of the Bank of Japan are currently influencing the nerves of the global financial markets. The interest rate decision on the 19th of this month will be a critical moment, not only determining the fate of the yen but also directly affecting the capital flows of risk assets such as US stocks and cryptocurrencies.
According to market expectations, the Bank of Japan will raise interest rates by 25 basis points to 0.75%, reaching a thirty-year high. However, the real climax of this story is not the rate hike itself—since it has already been fully priced in by the market—but rather the Bank of Japan Governor Ueda and his stance on the future rate hike path.
Rate hike expectations are set; focus shifts to "indications"
The rate hike itself is no longer a suspense. The market's real concern is whether the Bank of Japan will revise upward its estimate of the neutral interest rate. Most institutions predict that the central bank may raise the lower bound of the neutral rate from the current 1.0%. Based on current pricing, interest rates are expected to rise to 1.0% by September 2026.
Nomura Securities, however, believes that such expectations are too aggressive. This

Financial markets are never short of temptations. Whenever investors are lured by promises of "steady returns," Ponzi schemes hide behind glamorous appearances, waiting for victims to fall into the trap. These scams have a century-long history but continue to reinvent themselves with new faces in today's digital age, becoming the most dangerous pitfalls for investors.
Top 10 Red Flags to Help You Spot Ponzi Schemes
Before your hard-earned money is swallowed by a Ponzi scam, it is crucial to learn how to recognize warning signs.
Low risk with promises of extremely high returns is the most common deception. A healthy investment market follows the iron law that "risk and reward are positively correlated." Any project claiming to offer "1% daily profit, 30% monthly returns" is invariably a scam. Real market fluctuations are unpredictable, and continuous fixed returns cannot be guaranteed.
Overly complex investment strategies are often smokescreens to conceal hollow fundamentals. Scammers deliberately design products to be obscure and difficult to understand, claiming to use "quantitative hedging"

Strong Earnings Report, Leading Chipmaker Soars
Following the news that NVIDIA's stock price surged over 6% after hours, it immediately ignited bullish enthusiasm in the Taiwan stock market. TSMC's ADRs rose in tandem, driving the spot market to open strongly, with the index reaching as high as 1460 yuan in early trading, nearly a 4.7% increase for the day. How powerful is this rally? Investors directly expressed: "One company supports the entire market," and "The AI panic finally has a chance to be alleviated."
According to market analysis, the most direct catalyst for TSMC's strong rebound this time is the confidence rebuilding brought by NVIDIA's earnings report. However, it should be noted that TSMC previously experienced pressure from foreign institutional adjustments, with the stock price touching below the 1465 yuan monthly line, and the technicals still showing a loose state. Whether it can stabilize in the future depends on whether foreign institutional investors truly reduce their futures short positions.
How far can the rebound go? Testing NVIDIA's "sustainability"

When will the Yen hit its lowest point?
In November 2023, the USD/JPY exchange rate reached 151.94 during the New York trading session, marking the lowest point in 32 years since August 1990. Behind this figure lies Japan's deep economic difficulties and the divergence in global monetary policies.
If we extend the timeline to 50 years, the Yen's depreciation trend actually began in 2012. At the end of that year, the USD/JPY exchange rate reached a historic high of 80 yen per dollar, initiating a more than ten-year cycle of depreciation. From 80 to 155, the Yen has experienced nearly a doubling of its value loss.
Three Major Factors Driving the Yen's Continued Decline
Long-term Overextension of Loose Monetary Policy
After the Abe government took office in 2012, it implemented aggressive quantitative and qualitative easing policies, injecting large amounts of liquidity into the market and deliberately suppressing the yen to stimulate exports. This policy has continued to this day, with the Bank of Japan maintaining over ten

In the toolbox of technical analysis, the KD indicator is undoubtedly one of the most popular indicators. Whether you are a novice just entering the market or an experienced trader, learning how to apply the KD indicator to judge market entry and exit points and identify trend reversals can significantly improve your trading success rate.
Quickly understand the core of the KD indicator
The full name of the KD indicator is the "Stochastic Oscillator," invented by American analyst George Lane in the 1950s. Its purpose is simple—by tracking the high and low price changes over a period, it helps traders capture market momentum shifts and overbought/oversold conditions.
The KD indicator's values range from 0 to 100 and consist of two lines:
- K line (%K, fast line): reflects the current closing price's relative position within the price range over the past n days, reacting sensitively to price changes
- D line (%D, slow line): is the K

Taiwan Futures Index has always been a hot topic among investors in Taiwan. It combines advantages such as dual-direction trading, leverage amplification, and night trading, attracting many short-term traders. However, for many beginners, questions like "What is the Taiwan Index Near All?" "How to trade steadily?" and "How to avoid risks?" are often confusing. Today, let's take an in-depth look at the most active index futures instrument in the market.
What exactly is the Taiwan Futures Index? A quick understanding of the core concept
The Taiwan Futures Index is a futures contract that tracks the movement of the Taiwan Weighted Stock Index. Simply put, it uses the Taiwan stock market's main index as the trading underlying. When you are optimistic about Taiwan's stock market prospects, buying Taiwan Futures Index can be profitable; conversely, when you are bearish, selling Taiwan Futures Index can also generate gains. This is what makes it most attractive to traders—both bulls and bears have the opportunity to profit.
The investment amount behind Taiwan Futures Index is quite substantial. For example, with the main Taiwan Futures Index (TX), if the weighted index is at 1

The Australian dollar was once the fifth largest traded currency globally (after the US dollar, euro, yen, and British pound), and AUD/USD is also one of the top five most actively traded currency pairs worldwide. Its high liquidity and low spreads allow market participants to effectively execute various trading strategies.
However, the reality is disappointing. Over the long term, the Australian dollar's performance has been quite weak over the past decade. Starting from around 1.05 in early 2013, by the end of 2023, the AUD/USD has depreciated by over 35%, while the US dollar index has risen by 28.35% during the same period. This is not just an AUD issue— the euro, yen, and Canadian dollar have also depreciated against the dollar, reflecting a global shift into a strong dollar cycle. The historical lows of the AUD are a direct result of this super-strong dollar cycle.
Why is the AUD stuck at a low level? Three major factors form a "deadlock"
The weak performance of the AUD is not due to a single reason. Market observations indicate that US tariff policies impact global trade, raw material out

As we approach the end of 2025, the TWD/JPY exchange rate has reached 4.85, and travel and investment demand for the Japanese yen are heating up again. Want to effectively control currency exchange costs? There are four ways to exchange JPY, each with its own nuances. Let's analyze them all at once.
Current TWD/JPY Exchange Rate Analysis
As of December 10, 2025, the TWD/JPY rate has reached 4.85, representing an 8.7% appreciation from the beginning of the year at 4.46. Since the second half of the year, Taiwan's currency exchange demand has increased by 25% annually, driven by a recovery in tourism and hedging needs.
From the Bank of Japan's perspective, Governor Ueda Kazuo has recently adopted a hawkish stance, with market expectations of an 80% chance of interest rate hikes. The December 19 meeting is expected to raise rates by 0.25 basis points to 0.75% (a 30-year high). Japanese government bond yields have hit a 17-year peak of 1.93%. The USD/JPY has fallen from a high of 160 at the start of the year to around 154.58, and in the short term, it may

In December 2025, the Taiwanese dollar against the Japanese yen has already broken through the 4.85 level, and travel, study abroad, and investment demand in Japan have surged again. Many people are asking: Is it a good time to exchange for yen now? Actually, there is no absolute "best time" to exchange currency; the key lies in choosing the right channels and strategies.
Should I exchange yen now? Exchange rate trend overview
From 4.46 at the beginning of the year to 4.85 now, the yen has appreciated by about 8.7%, and investment returns are quite substantial. But more importantly, the Bank of Japan's policy stance—Governor Ueda and his hawkish position—has pushed up rate hike expectations to 80%, with a rate increase of 0.25 bps to 0.75% expected at the December 19 meeting (a 30-year high). Japanese government bond yields have hit a 17-year high of 1.93%.
USD/JPY has fallen from a high of 160 at the start of the year to around 154.58 now. In the short term, it may rebound to 155, but medium- to long-term forecasts suggest it will stay below 150. This indicates that the yen's appeal as a safe-haven currency continues to strengthen.

Investors holding shares of a listed company naturally expect to share in the company's operational results. When the company is highly profitable, repays debts, and offsets past losses, it will return some of the profits to shareholders in the form of dividends. This dividend distribution mechanism fundamentally falls into two categories: one is direct cash dividends, and the other is free stock issuance. Which of these two dividend methods is more suitable for investors? This article will delve into the operational logic, calculation methods, and how to determine which type of dividend is more beneficial to oneself.
What is a dividend? The essential difference between the two types of dividends
A dividend is the act of a listed company periodically distributing profits to shareholders. The amount distributed depends on the shareholder's proportion of ownership and the company's articles of incorporation.
Dividends are divided into two main types:
Cash dividends (dividends, dividend payouts): The company directly deposits cash into the investor's account. Investors receive real money immediately but are subject to personal income tax, with the tax rate linked to the holding period.
Stock dividends

The exchange rate of New Taiwan Dollars (NTD) to Japanese Yen (JPY) just surged to 4.85. What does this number represent? It means that with 50,000 NTD, you can now get 48,500 JPY, which is an 8.7% increase compared to the exchange rate of 4.46 at the beginning of the year. As the Bank of Japan's interest rate hike expectations heat up and the NTD faces depreciation pressure, the Japanese Yen has shifted from being just "pocket money for travel abroad" to becoming a preferred safe-haven asset. But don't rush to exchange all at once, because the key to the next decision lies in choosing the right currency exchange method.
4 Ways to Exchange Currency, with Costs Differing by Over 2 Times
The easiest trap to fall into is thinking that all banks offer the same exchange rate. In reality, just exchanging currency between Taiwan Bank and Taipei Fubon Bank, the cash selling rate differs by 0.0009 (NTD 0.045), and this difference becomes significant when dealing with large amounts.
Counter cash exchange is the most traditional method and also the most costly. Taking Taiwan Bank as an example, the cash selling rate is approximately 0