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When a company announces a capital reduction, the market often sparks a wave of discussion. However, many investors still have only a superficial understanding of the substance, impact mechanisms, and strategies for responding to capital reduction. This article will analyze from an investor's perspective how this key financial decision affects stock prices, company value, and your investment returns.
What exactly does a capital reduction do? Why do companies choose to reduce capital?
The essence of a capital reduction is the company's proactive decrease of the total amount of issued share capital. In simple terms, the company reduces the number of shares in circulation through share repurchases, cancellation of shares, or restructuring of share capital. This sounds like the company is "shrinking," but the underlying logic is quite different.
The motivations for implementing a capital reduction mainly fall into three categories:
First is financial structure optimization. When a company's share capital base is too large, leading to earnings per share being diluted, a capital reduction can quickly boost the earnings per share level. It's like distributing the same profit to fewer shares, increasing the value per share.

The latest third-quarter survey released by the Dallas Federal Reserve Bank casts a shadow over the US energy market. The survey was conducted in mid-September across major energy hubs in Texas, northern Louisiana, and southern New Mexico, interviewing 139 business leaders. The oil production scale in these regions rivals that of several major global producers.
Energy executives' attitudes have reversed, and industry confidence has plummeted to a low point
The results reflect a growing pessimism among leaders in the US oil and natural gas industry. Several senior executives openly stated that the US shale oil industry is in a crisis. Once considered the most competitive energy sector globally, it is now struggling due to worsening policy environments and economic pressures. An industry insider further pointed out that the peak of shale oil has passed; despite ample US oil reserves, maintaining industry vitality under current oil prices is difficult.
Executives' criticism of environmental policies is becoming increasingly sharp. Although they are...

The Japanese Yen continues to depreciate. Is there a chance for a rebound? If you're considering investing in the yen, you need to understand these points first.
Why does the yen keep weakening? The three major culprits cannot be ignored.
In 2025, the Japanese Yen experienced a rollercoaster. At the beginning of the year, USD/JPY soared to around 160, and on April 21, it briefly hit a year-to-date low of 140.477 — a rise of over 12% in just three months. But the good times didn't last long. In the second half of the year, the yen came under pressure again, falling below 157 in November to set a new low for the half-year, and even after the Bank of Japan raised interest rates to 0.75% in December, the downward trend continued. Currently, it hovers around 156.
The fundamental reason for the continuous depreciation of the yen is not due to a single factor but multiple pressures stacking up:
The US-Japan interest rate differential is the main culprit. Although the Bank of Japan raised interest rates twice in 2025, Japanese rates remain far below those of the United States. This huge interest rate gap has led to ongoing "yen carry trades" — investors borrow low-interest yen to invest in higher-yield assets elsewhere.

Key Tip: The United States entered Standard Time at 2:00 AM on November 2, 2025. Currently, regular US stock trading hours in Taiwan local time are from 22:30 to 05:00 the next day.
1. Why is the US stock market closing time so important?
For investors in Taiwan, understanding the US stock market closing time is the first step to successful trading. The US stock market operates independently across three major exchanges. Although trading hours are mostly synchronized, opening, closing, and price data may vary slightly between exchanges. Knowing these time differences helps avoid missing trading opportunities or suffering losses due to time zone confusion.
2. Quick Reference Table for US Stock Market Closing Time and Trading Sessions
US stock trading hours are based on Eastern Time and consist of three trading sessions. Below is the latest time conversion table:
| Trading Session | Eastern Time (ET) | Taiwan Time (Standard Time) | Taiwan Time (Daylight Saving Time) |
|---|---|---|---|

For investors new to stock technical analysis, the Relative Strength Index (RSI) is an essential tool that cannot be overlooked. As one of the most widely used technical indicators in the market, RSI helps traders quickly assess the strength balance between buyers and sellers, thereby capturing potential trading opportunities.
So how exactly does RSI work? Why do phenomena like divergence and indicator dulling occur? How should one respond when encountering these situations? Let's break down these questions in detail.
What is RSI (Relative Strength Index)?
The Relative Strength Index (RSI) is a tool that measures the imbalance of buying and selling forces in the market by quantifying the relative magnitude of recent price increases and decreases.
RSI is favored by the market mainly due to three characteristics: first, its calculation logic is simple and intuitive, unlike indicators like MACD that require

Do you want to achieve asset appreciation by buying foreign currencies? Foreign currency investment is becoming increasingly popular in Taiwan, but to truly profit from it, you must understand exchange rate fluctuations, interest rate differentials, and the characteristics of different investment methods. This article will guide you from zero to understand the foreign currency market and teach you how to choose the right investment methods and currency types.
Why are Taiwanese people enthusiastic about investing in foreign currencies?
Taiwan's legal currency is the New Taiwan Dollar (NTD). For a long time, the bank deposit interest rate for NTD has been at a low level, with an average annual interest rate of about 1.7%. In comparison, major foreign currencies such as the US dollar, Australian dollar, and British pound have significantly higher interest rates. This creates an interest rate differential between the home currency and foreign currencies, which is the main reason attracting Taiwanese investors to continuously exchange for foreign currencies.
In addition to seeking higher interest income, from a broad asset allocation perspective, if all assets are denominated in NTD, a significant depreciation of the NTD would lead to a reduction in wealth. Therefore, allocating a certain proportion of foreign currency assets

The sharp decline in US stocks is caused by four major factors: deterioration of economic fundamentals, adjustments in Federal Reserve policies, escalation of geopolitical tensions, and market sentiment reversal. Historical examples such as the 2008 financial crisis and the 2020 pandemic show that while the market may decline, it will eventually rebound. Investors should pay attention to warning signals, reasonably choose selling or buying strategies, use hedging tools to manage risk, and stay rational in responding to market fluctuations.

The market is focused on the direction of U.S. monetary policy, with the expectation of a rate cut by the Federal Reserve rising to 82.9%. Five board members lean towards a rate cut, with Powell becoming the key figure. Meanwhile, silver remains resilient due to supply shortages and strong industrial demand, with prices potentially testing the 54 to 56.5 USD range. At the same time, the development of the U.S. AI strategy is also providing support to the market.

In an era of accelerating global aging and continuous emergence of new drugs, the pharmaceutical and biotech industry has become a focal point in the capital markets. Unlike traditional electronics industries affected by economic fluctuations, healthcare demand has a rigid characteristic—human metabolism always requires medical services—making biotech stocks relatively counter-cyclical. However, not all pharmaceutical stocks are worth attention. The US market, with its完善的 capital mechanism and regulatory system, has become the top choice for global biotech investors.
Why have pharmaceutical and biotech stocks become the new gold mine?
Market Size Continues to Expand
The global biopharmaceutical market is projected to reach $445 billion by 2027, with a compound annual growth rate of 8.5%. Behind this figure lies a continuous stream of investment opportunities. Unlike Taiwan, where the healthcare system suppresses drug prices, leading to delays in the development of quality new drugs, the US pharmaceutical market adopts a "capitalist pricing model"—high drug prices are borne by insurance companies—thus enhancing the commercial value of new drugs.

Have you heard of the promise of "money flowing directly into your pocket"? If you are a new employee just entering the workforce, a young professional living on a salary, or even a student still in school, you may have dreamed of this. But reality is often different — earning a salary each month and nothing more. Actually, there's no need to be discouraged; as long as you find the right direction, passive income for small investors is not out of reach.
Reconsidering Passive Income
Many people have misconceptions about "passive income," thinking it's a privilege reserved for the wealthy. In fact, regardless of your current financial situation, there are opportunities to establish your own stable income through various channels. Simply put, passive income is cash flow that continues to generate without the need to work every day. The biggest difference from traditional jobs is that once the system is set up, it will work for you like a hen laying eggs — even while you're sleeping.
It is important to note that passive income usually requires initial investment (time or capital), and the returns

Understanding Simple Moving Average (SMA)
The Simple Moving Average (SMA) is a fundamental tool in technical analysis, widely used for trend determination in stocks and other financial assets. Its core function is to smooth out price fluctuations, helping traders observe market trends more clearly.
Specifically, the calculation method of SMA is quite straightforward: select a time period, sum all closing prices within that period, and divide by the number of days to obtain the average. For example, to calculate a 15-day SMA, add up the closing prices of the past 15 days and divide by 15. As time progresses, each new data point removes the earliest day's price and adds the newest day's data, forming a continuous trend line.
Taking stocks as an example, suppose the past 15 days' closing prices are:
- First week (5 days): 30, 35, 38, 29, 31

Recently, the central bank has promoted the digital yuan, demonstrating that it has become a top priority in financial strategy. In response to the expansion of global stablecoins, the central bank has proactively launched digital currency to strengthen financial sovereignty. The digital yuan not only facilitates the internationalization of the renminbi but also uses smart contracts to reduce financial risks. Its competitiveness surpasses that of market stablecoins, indicating that future adoption will reach new heights.

The 2025 crypto market underperformed compared to gold and equities, but analysts suggest this may set the stage for a significant rebound in 2026. Signs of capital flow reversal and changing investor behaviors indicate potential growth ahead for cryptocurrencies.

Recent reports indicate that XRP holdings on exchanges have drastically decreased to 1.6 billion, a seven-year low. This significant drop highlights a shift in supply dynamics, driven by increased long-term investment and active on-chain activity, which may impact market liquidity and pricing.

Capital reduction is a strategy for companies to adjust their financial structure to enhance shareholder returns by reducing the issued share capital to increase earnings per share and stock value. Cases show that capital reduction is not only a means to address difficulties but also an active optimization strategy. Different methods of capital reduction will affect stock prices; investors need to understand the motives behind the reduction and market reactions to seize the best timing for operations. Understanding the mechanism of capital reduction is crucial for investment success.

There are two ways to make money from stocks: one is waiting for the stock price to rise, and the other is collecting dividends. But many investors actually can't tell the difference—should they prefer receiving stocks or cash? How do you calculate stock dividends and distributions? This article will help you understand everything in one go.
Dividend payments are actually very simple: they can be given as stocks or as cash.
After a listed company turns a profit, deducting debts and losses, the remaining profit is returned to shareholders. How is this done? There are only two ways.
Method 1: Distribute cash dividends
The company directly deposits the money into your account, which is called paying dividends. The prerequisite is that the company must have cash on hand, and after paying, it must ensure liquidity isn't compromised. So, not all companies can generously pay dividends.
Method 2: Distribute stock dividends
Instead of cash, the company gives additional shares. Your total number of shares will increase, and this is also called "stock bonus" in the industry. This method has a low threshold—if the company meets the distribution criteria, it doesn't matter whether it has enough cash on its books.
There is also a third combination plan: both

NT$ has experienced its most vigorous rally in 30 years: from depreciation panic to a single-month surge
The New Taiwan dollar has recently undergone an astonishing appreciation, with a nearly double-digit increase over just two trading days, marking a rare and intense fluctuation in decades. In early May, the USD/NT$ exchange rate dropped 5% in a single day, setting a 40-year record for the largest daily decline. During the session, it even broke through the psychological barrier of NT$30, touching a low of NT$29.59, shocking the market.
Meanwhile, trading volume in the foreign exchange market surged to the third-highest level in history, fully reflecting the market’s high concern over this wave of sharp exchange rate movements. Even more notable is that this appreciation has been particularly prominent among Asian currencies. In comparison, the Chinese yuan, Hong Kong dollar, Japanese yen, and Singapore dollar, while generally strengthening, have all seen gains far below that of the New Taiwan dollar. The Singapore dollar rose 1.41%, the Japanese yen increased 1.5%, and the Korean won surged 3.8%, but the NT$ displayed a standalone soaring trend.

Technical indicators reveal clues
Silver (XAG/USD) hovered around $36.20 during U.S. trading hours on Tuesday, with light trading volume. The most noteworthy point is that the Relative Strength Index (RSI) is oscillating around 57, indicating limited upward momentum. More concerning is that the Moving Average Convergence Divergence (MACD) has formed a bearish crossover, with the signal line reversing downward and the histogram showing a clear convergence, suggesting that the upward driving force is waning.
The parallel channel structure still exists, but its vulnerability is becoming evident
Since early April, silver has been trading within an ascending parallel channel, forming a typical pattern of higher highs and higher lows. Currently, the price is repeatedly testing near the midline of the channel, with short-term support around $35.50, coinciding with the lower boundary of the channel. The 21-day Exponential Moving Average (EMA) sits at $35.79, serving as a dynamic defensive line within the parallel framework.
However, the stability of this parallel structure is being challenged by

When investing in Taiwanese stocks and ETFs, many people are used to checking the commission fees first but overlook a more important aspect—the choice of brokerage platform which determines your investment experience. A good broker should offer transparent cost structures, convenient trading tools, and comprehensive customer support to truly support your long-term investment journey.
Three key factors in choosing a brokerage account
1. Transparent commission fee structure
Commission fees are a significant part of investment costs. Different brokers offer various discount mechanisms—some use fixed discounts, while others calculate based on tiered trading amounts. The higher the trading volume, the greater the discount, which is especially beneficial for frequent traders.
Additionally, discounts on fractional share trading and regular fixed investments are worth paying attention to. Beginners should particularly watch out for "hidden costs," including taxes, platform usage fees, and other unseen expenses that can eat into your returns.
2. Ease of use of the trading platform
The smoothness of the order placement software directly

This article provides a detailed overview of the trading hours and market holidays for the Hong Kong stock market in 2025, including the trading mechanisms before and after market hours, as well as basic information about the Hong Kong Stock Exchange and holiday dates. Trading sessions are divided into pre-market auction, morning trading, afternoon trading, and post-market auction. The Hong Kong stocks are closed during public holidays, and investors are advised to flexibly employ trading strategies to cope with market fluctuations.