BloodInStreets

You need to understand the basics of ADR first
ADR (American Depositary Receipt) is another form of presence for foreign companies in the U.S. capital markets. Simply put, when overseas enterprises want to enter the U.S. stock market, they deposit their shares with a U.S. depositary bank, which issues receipts representing those shares. Investors can then buy these receipts on NASDAQ, NYSE, or over-the-counter markets just like buying U.S. stocks.
For example, Taiwan's TSMC is listed on the Taiwan Stock Exchange (ticker 2330) and also issues ADRs on the New York Stock Exchange (ticker TSM), allowing U.S. and global investors to trade directly. For investors, ADRs can be simply understood as stocks issued by foreign companies in the U.S. stock market, with trading methods similar to U.S. stocks.
Why do foreign companies issue ADRs?
For issuing companies, ADRs provide a relatively easy

The Bank of Japan raised interest rates by 25 basis points to 0.75%, which should have boosted the yen, but due to a lack of clear signals of further rate hikes, the market interpreted it as dovish, leading to a depreciation of the yen. Factors such as global interest rate differentials, the absence of policy guidance, and an unclear rate hike pace have put pressure on the yen, which remains in the 135-140 range in the short term.

The Bank of Japan raised its policy interest rate to 0.75% last Friday, hitting a 30-year high, yet failing to boost the yen. USD/JPY instead broke through 157.4, illustrating the textbook paradox of "rising interest rates, currency depreciation." What market logic is behind this?
Interest rate differential temptation vs. rate hike commitment confrontation
Why did the BOJ's hawkish signals fail?
On the surface, raising interest rates signals a strong currency. But the market has long seen through this—Japan's 0.75% interest rate, compared to over 4.5% in the US, still leaves a huge interest rate differential. Investors' calculations are simple: as long as the BOJ is not in a hurry to raise rates again, the arbitrage trading model still holds.
According to estimates from Morgan Stanley, approximately $500 billion in yen arbitrage positions remain unclosed worldwide. These funds borrow yen at the lowest cost and then invest in US tech stocks and emerging markets.

Supported by multiple favorable factors, global assets are generally on the rise, with the precious metals market reaching a historic high; U.S. stocks have continued to rise, with technology stocks performing prominently. Google's parent company Alphabet plans to acquire a clean energy company for $4.75 billion, indicating a focus on future power supply. Federal Reserve officials hinted at possible interest rate cuts next year, supporting risk assets. The proportion of USD reserves has slightly declined.

The platinum market experienced a strong rally in 2025, with prices reaching new highs driven by global supply shortages and rapid growth in hydrogen energy industry demand. South Africa's platinum output declined, exacerbating the supply gap, and Deutsche Bank expects future demand to further increase. Investors should pay attention to short-term risks and long-term opportunities, and develop appropriate strategies to participate in platinum investment.

Leading in funds, a strong bullish atmosphere
At a sensitive moment just before the Federal Reserve decision, the Taipei stock market has shown resilience beyond expectations. The weighted index closed today (10th) up 218.13 points at 28,400.73, a 0.77% increase, with a single-day trading volume of 492.18 billion NT dollars, indicating a rebound in market participation. The market performance confirms that investors' expectations for rate cuts and the global monetary easing environment continue to boost confidence. Various funds are actively entering after the market recovers all moving averages.
Fundamentals support the rally, with heavyweight stocks taking turns to lead
TSMC played a key role in boosting the index today. The company announced after hours that its November consolidated revenue reached 343.614 billion NT dollars, a 24.5% year-on-year increase, setting a new high for the same period. Cumulative revenue for the first 11 months exceeded 3.4 trillion NT dollars, breaking historical records. Supported by the continued expansion of AI demand, analysts estimate that Q4 revenue is expected to break quarterly records and even approach a single-season high.

The RMB to USD exchange rate recently broke through 7, reaching a new high for the year, mainly influenced by the weakening of the US dollar, central bank policy guidance, and year-end foreign exchange settlement demand. Institutions generally have a positive outlook for the RMB appreciation in 2026, predicting that the USD to RMB exchange rate will further decline.

The Federal Reserve is the "Hidden Hand"
The market's focus is currently on the Bank of Japan's interest rate decision on December 19. But the true determinant of the yen's fate may not be the Bank of Japan itself.
Analysts point out that the Federal Reserve will announce its own interest rate decision a week before the Bank of Japan meeting. This means that the Bank of Japan is likely to adjust its strategy based on the Fed's stance. Simply put: if the Fed holds steady, the Bank of Japan will face significant pressure to raise interest rates; conversely, if the Fed begins to cut rates, the Bank of Japan will have more reason to delay rate hikes.
The latest market survey shows that investors' expectations for the Bank of Japan to raise rates in December or January are nearly evenly split, both around 50%. Australian Commonwealth Bank analyst Carol Kong believes that the cautious Bank of Japan may choose to "wait and see," acting only after the parliament approves the budget. The advantage of this approach is to gain leverage for subsequent wage negotiations.

Macroeconomic Background: Federal Reserve Policy Shift May Boost Risk Sentiment
As the year comes to an end, the Christmas holiday has led major markets to close, but focus remains on the Federal Reserve's policy trajectory. After three rate cuts this year, the Fed is awaiting new guidance from labor market and inflation data. Notably, the Fed is concerned about rising unemployment rates and believes that non-farm payroll data may be overstated, with actual employment growth possibly turning negative. Bank of America forecasts that the Fed will implement two rate cuts in the first half of the year, and expects the 10-year U.S. Treasury yield to fall back to the 4% to 4.25% range by year-end. This dovish outlook could potentially support risk assets such as U.S. stocks.
EUR/USD: 1.1700 Becomes a Key Pivot
During weekend trading, EUR/USD rose modestly, reaching a high of 1.1793, but remains constrained by the 1.1800 level. From a technical perspective, the short-term bullish and bearish boundary is at 1.1700.

When analyzing the market, have you ever noticed those seemingly mysterious numbers of "internal volume" and "external volume"? Many investors focus daily on transaction prices, highest prices, and lowest prices, but overlook these important signals hidden within trading details. In fact, the ratio of internal to external volume can intuitively reflect the changing attitudes of buyers and sellers in the market, and even predict the next move of short-term capital.
The essence of trading: Who is actively executing transactions?
To understand internal and external volume, first grasp a core logic—who is actively driving the trades?
In the stock market, there are two quoting methods: sellers place "ask prices" (hoping to sell higher), buyers place "bid prices" (hoping to buy cheaper). These are just orders; the actual transaction only occurs when they are matched.
When the bid volume exceeds the ask volume, it indicates more buyer orders and stronger buying momentum. But more importantly, who chooses to actively match the other side's order:
Internal volume transactions: The stock is sold directly at the "bid price,"

Recently, the RMB against the USD has performed strongly, hitting new lows, and the market is optimistic about its future appreciation prospects. Several institutions predict that the RMB will continue to appreciate in 2026, mainly influenced by a weak US dollar, central bank policy support, and robust foreign trade settlement. Analysts believe that the RMB is relatively undervalued and may further enhance China's capital market attractiveness in the future.

What is an NFT? Why is it different from Bitcoin and Ethereum?
Recently, the term NFT has been trending everywhere, but many people don't really understand what it is. Simply put, NFT stands for "Non-Fungible Token," which contrasts with "Fungible Tokens" like Bitcoin and Ethereum.
So, what's the difference? Imagine you have a 100-dollar bill and I have a 100-dollar bill. These two bills are exactly the same and can be exchanged freely—that's fungibility. Bitcoin(BTC) and Ethereum(ETH) are examples of this. But if you have a Picasso painting and I have a Monet painting, these two artworks cannot be exchanged on a one-to-one basis because they each have unique characteristics—that's non-fungibility, which is the core concept of NFTs.
Specifically, NFTs include digital assets such as artwork, game characters, virtual real estate, domain names, and other unique digital items. They all operate on the blockchain,

Recently, the AUD/USD has been moving quite strongly, rising 8.4% since the beginning of the year. This increase is considered "explosive" in the foreign exchange market. Deutsche Bank and the National Australia Bank have both issued ambitious forecasts — by the end of 2026, the USD/AUD exchange rate could reach 0.71, which means the Australian dollar still has room for further appreciation.
Why did the AUD suddenly become so strong?
It's quite simple — it's because the central banks of Australia and the US have "different attitudes" now.
On the Australian side, inflation rebound has raised concerns, and the December meeting minutes revealed hawkish signals. The market generally expects the Reserve Bank of Australia to raise interest rates by 2026. As for the Federal Reserve? The rate-cut cycle still needs to continue, with an expected two cuts by 2026. One might raise rates, while the other continues to cut — the interest rate differential widens, making the AUD naturally more valuable.
Another driving force is the "bull" in the commodity markets. Gold, silver, copper, and other bulk commodities are the

Crude oil is known as black gold and holds a pivotal position in the modern economy. From transportation and chemical production to power supply, energy demand runs through all industries. As oil is a non-renewable resource, its price fluctuations are directly affected by supply and demand, often experiencing sharp swings. In 2023, the complex and changing international situation, expectations of economic recovery, escalating geopolitical conflicts, and tight oil supplies intertwine, profoundly impacting investment opportunities in oil stocks.
Market Performance Reversal in the Energy Sector
Looking back at 2022, while most U.S. stock sectors faced difficulties, energy stocks stood out. The entire sector increased by nearly 65%, whereas communication stocks declined by an average of 40%, technology sectors fell by an average of 30%, and the representative S&P 500 index dropped 19%. Behind this differentiated performance is the rebound in energy demand driven by post-pandemic economic recovery and the energy supply crisis caused by the Russia-Ukraine conflict.

Australia has been underestimated in the global investment landscape for a long time. Many people only know that Australia is a retirement paradise but overlook its status as the world's second-largest mineral reserve country. In fact, the Australian stock market has achieved an average annual return of 11.8% over the past 30 years, far exceeding many investors' expectations. As the global energy transition accelerates, AI computing power demand explodes, and geopolitical risks rise, Australian stocks are becoming a new target for capital flows.
Australian Stocks 2024 Turning Point: From Struggles to Transformation
The ASX200 index increased by 12.95% in 2024, but this figure masks significant divergence among sectors. Traditional lithium mining stocks plummeted 30% due to overcapacity, while copper mining giants saw their stock prices double amid booming demand from AI data centers and electric vehicles—this is a clear signal of the upcoming turning point for Australian stocks.
Federal Treasurer Jim Chalmers announced a major policy at the end of 2024: starting in 2025, subsidies will be provided to hydrogen export companies at a rate of per kilogram

Choose the right tools for more efficient investing
To succeed in the financial markets, the first step is to find the charting tools that suit you. Today’s market is flooded with investment apps, each with unique features. This article compiles practical US stock apps and Taiwan stock apps to help investors select the most suitable charting software based on their needs.
US Stock Apps: Real-time Quotes and Professional Analysis Are Essential
The US stock market, as a major global financial hub, attracts many Taiwanese investors. Choosing a comprehensive US stock app allows you to stay updated on market dynamics at any time.
TradingView: The Most Professional US Stock Charting Tool
TradingView is a popular charting software among US stock investors. It offers a clean and fast interface, with charts that are friendly to both beginners and professional traders. TradingView has a vast library of technical indicators.

Why invest in US stocks?
In the global financial markets, the US stock market is renowned for its large scale, high liquidity, and transparent system. With a daily trading volume exceeding 10 billion shares, this level of activity ensures that the market is difficult to manipulate and provides a relatively fair investment environment.
Many multinational companies—whether Asian internet giants like Alibaba and JD.com or globally recognized brands like TSMC and Starbucks—choose to list in the US. Why? Because the US is the most open market for capital flow worldwide, offering the largest financing opportunities and the broadest investor base for companies.
For retail investors, investing in US stocks offers four core advantages:
Low barrier to entry — US stocks can be purchased in single shares, with no "lot size" restrictions. If Tesla's stock price is $260, you only need $260 to get started. In comparison, Hong Kong stocks require a minimum purchase of 100 or 1,000 shares, and A-shares require a minimum of 100 shares.

The New Taiwan Dollar (NTD) has reached a rate of 4.85 against the Japanese Yen, and more people are starting to buy Yen. But don't rush to the bank just yet, because choosing the wrong exchange channel can cost you several thousand NT dollars in exchange rate differences. We have compiled the latest four methods to purchase Yen, and we will show you with actual numbers which one is truly the most cost-effective.
Things to Know Before Buying Yen: Why Should You Pay Attention to the Exchange Rate?
When it comes to buying Yen, many people think it's only necessary when traveling abroad. In fact, the Yen has long surpassed the role of a "travel currency."
From everyday use, whether it's shopping in Tokyo, skiing in Hokkaido, or purchasing Japanese goods through代理購買, cash transactions still make up the majority. From an investment perspective, the Yen is one of the world's three major safe-haven currencies (the other two are USD and Swiss Franc). When global markets are turbulent, funds tend to flow into the Yen for safety. 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, demonstrating its safe-haven value.
To