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The United States enters winter time on November 2, 2025. Taiwanese investors need to adjust their US stock trading hours to 10:30 PM to 5:00 AM. Additionally, the article lists the US stock market holidays in 2026, reminding investors to pay attention to holiday trading plans. The US stock market has three major exchanges and basic trading rules; understanding this information is crucial for Taiwanese investors.

Before Opening an Account: 5 Key Factors to Consider When Choosing a Broker
If you want to trade in the Taiwan stock market, whether it's stocks, bonds, or options, you must open an account with a securities firm. However, with so many options available, novice investors often face a dilemma. Instead of passively waiting, it's better to clarify your investment needs first.
The difference in commission fee discounts is the primary consideration. For example, with TSMC, buying 5 lots (NT$2.15 million) at a 60% discount costs NT$1,838 in commission fees, while selling 5 lots (NT$2.25 million) costs NT$1,924, plus NT$6,750 in transaction tax, bringing the total cost of a single trade to NT$10,512. The discount on commissions can be a decisive factor in the overall trading cost, but don't just look at the discount percentage—some small brokers lower fees to capture market share but compromise on service quality such as system stability and order execution speed.
The ease of use of trading software is often underestimated. Yuanta Securities' "Investment Gentleman" APP, KGI Securities'

The recently concluded 2025 was quite remarkable for the Australian dollar. Driven by a weakening US dollar, adjustments in tariff expectations, and domestic economic resilience, the AUD/USD pair rose a total of 7% throughout the year, demonstrating a strong appreciation trend.
Central bank policies are now diverging, leading to a change in the USD/AUD dynamics.
Entering 2026, the direction of AUD/USD will mainly be determined by three variables: central bank policy stance, economic fundamentals, and geopolitical risks.
Australia's central bank stance is inconsistent.
Currently, rising inflation pressures in Australia are widely acknowledged, but expectations for subsequent central bank actions vary. The market generally agrees that the Reserve Bank of Australia’s rate-cut cycle has concluded, but there is disagreement over whether it will initiate rate hikes in 2026.
Westpac Bank is relatively dovish, expecting the RBA to keep interest rates unchanged throughout the year. Conversely, the Commonwealth Bank of Australia anticipates a modest rate hike by the RBA. The more hawkish institutions are the National Australia Bank and Citigroup, which predict that the RBA will...

In 2025, the RMB exchange rate experienced fluctuations, oscillating between 7.1 and 7.3 at the beginning of the year. By November, due to improved China-U.S. trade relations and expectations of Federal Reserve rate cuts, it appreciated, reaching a low of 7.0765. The market expects the depreciation cycle to have ended, and the RMB will enter a medium- to long-term appreciation phase driven by export growth, foreign capital inflows, and a weakening US dollar. Investors should monitor the US dollar trend, central bank policies, and economic data to increase profit opportunities.

Why Are Investors Focusing on EPS?
When evaluating the investment value of a publicly traded company, earnings per share often become the primary reference indicator. However, many novice investors do not truly understand the meaning behind this number; they simply watch EPS rise and blindly chase after high prices, often with results contrary to their expectations. This article will delve into the true meaning of earnings per share and teach you how to correctly use EPS for stock selection decisions.
Core Definition of Earnings Per Share
Earnings Per Share (EPS) is essentially a simple concept: it divides the company's profit evenly across each outstanding share. Specifically, EPS reflects how much profit an investor can earn from each share they hold.
Expressed with a formula:
EPS = (Net Profit - Preferred Dividends) / Number of Outstanding Common Shares
This indicator is important because

Why Are Investors Focusing on EPS?
When reading financial reports, you've probably encountered this number—Earnings Per Share (EPS). Why is this indicator so important? Simply put, it directly reflects how much profit a company can make for you with each dollar invested. EPS is one of the most critical reference indicators when evaluating whether a company is worth investing in.
This article will help you understand the meaning of EPS, its calculation logic, practical applications, and the hidden traps behind it.
Core Meaning of EPS: Explained in One Sentence
Earnings Per Share (EPS) = Net Profit ÷ Number of Outstanding Shares
What does this number represent? It indicates the profit allocated to each common share. The higher the EPS, the more profit the company has generated with the same number of shares—which is exactly what investors dream of.
Compared to industry peers

Want to venture into the US stock futures market but don't know where to start? This comprehensive guide will help you get started quickly, covering basic concepts, practical operations, and risk management—all in one article.
What exactly are US stock futures?
Futures are a two-way commitment: both buyers and sellers agree to trade an asset at a predetermined price at a future date. To illustrate with oil—if you buy a three-month oil futures contract at $80 per barrel today, it means you are obligated to buy approximately 1,000 barrels of oil at that price in three months. If the oil price rises to $90, this contract becomes profitable for you.
The logic of US stock futures is exactly the same, except the underlying asset shifts from commodities to stock indices. When you buy or sell US stock futures, you're essentially trading a basket of American stocks.
Here's a calculation formula you need to know:
Index points × Multiplier (USD) = Nominal value of the stock portfolio

Gold Prices Reach New Highs: Is There Still Room for Growth?
In 2024, international gold prices have been soaring, setting new records. From the dramatic fluctuations in 2022-2023 (peaking at $2000 and dropping below $1700) to the recent rapid increase, multiple factors have driven this rally.
Key Data Highlights:
- Federal Reserve rate cut expectations signal favorable prospects
- Escalating geopolitical risks boost safe-haven demand
- Global central banks record-breaking gold purchases: net buying of 1,045 tons in 2024, surpassing the thousand-ton mark for three consecutive years
- Gold prices peaked at $4,200, followed by some adjustments
However, it is important to recognize that gold prices are influenced by multiple intertwined factors, and short-term trends are highly unpredictable. The core of long-term gold investment is to find the right entry point, rather than chasing high prices. As for short-term traders, as long as they master technical analysis and risk management, there are still opportunities to profit from price differences.

Private sector layoffs in the US in November totaled 32,000, with rate cut expectations soaring to 90%, and the US dollar declined sharply. Although service sector data performed well, market concerns about employment conditions remain a focus. The euro strengthened due to the European Central Bank's hawkish stance and positive economic data, with EUR/USD breaking through the key 1.1650 level. Pay attention to how future data will influence Federal Reserve policies.

Why are traders all using Fibonacci?
In the foreign exchange market, many professional traders rely on Fibonacci indicators to predict price movements. The reason this method has become so widespread is due to a simple yet powerful mathematical pattern—an amazing ratio discovered by 13th-century Italian mathematician Leonardo Pisano (nicknamed Fibonacci).
The core of Fibonacci trading methods lies in the golden ratio. This ratio is believed to be universally present in nature and the universe, maintaining the balance of all things. Interestingly, this balance extends into financial markets, allowing traders to judge when an asset might change direction based on these ratios.
Mathematical logic of the Fibonacci sequence
To understand the application of Fibonacci in trading, one must first grasp the basic structure of this sequence.
What is the Fibonacci sequence?
The uniqueness of the Fibonacci sequence lies in each number

Regarding the future trend of the euro, Wall Street's predictions are indeed somewhat divided. Some see it at 1.30, others at 1.12. Who is right? It all depends on a core issue: the policy directions of the European and American central banks and the strength of their economies.
The European Central Bank (ECB) needs to hold steady, while the Federal Reserve (Fed) is still easing.
On the policy front, both sides have already established their directions.
On the ECB's side, things are a bit awkward. Although the European economy remains resilient and inflation is easing, the growth outlook is not as bright as the US. The market generally believes the ECB has already cut rates to the appropriate level, with Citibank even predicting that interest rates will stay at 2% until the end of 2027.
On the Fed's side, the story is not over yet. Although they cut rates last year, there is still room for more in 2026. Goldman Sachs, Morgan Stanley, and Bank of America all believe the Fed will continue to cut rates twice, totaling 50 basis points. JPMorgan Chase and Deutsche Bank are more conservative, expecting only one 25 basis point rate cut.
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Return on Investment (ROI) is a key indicator for evaluating investment efficiency. By calculating the ratio of net profit to total investment, it helps investors understand the profitability per unit of capital. ROI is applicable across various fields such as stocks, startups, and advertising, but it is important to consider time factors and related costs to avoid overestimating or overlooking risks. Annualized ROI makes comparisons between different projects more scientific, and reasonable expectations combined with multi-dimensional analysis help in making informed investment decisions.

Investors often hear the term "OTC," but what exactly does OTC mean? Many people are unclear about the difference between over-the-counter trading and centralized exchanges. This article will provide an in-depth explanation of the meaning, operation mechanism, and characteristics of OTC to help investors make more informed decisions.
The True Meaning and Definition of OTC
OTC is the abbreviation for "Over The Counter," known in Chinese as "場外交易" (off-market trading). Its essential meaning refers to transactions conducted outside of centralized markets (such as securities exchanges). In simple terms, OTC means that buyers and sellers do not rely on a unified trading venue but instead negotiate directly through banks, brokers, phone calls, or electronic systems via decentralized channels.
This trading method is also called "over-the-counter trading," "desk trading," or "over-the-counter market." Unlike the unified bidding mechanism of centralized markets, prices in OTC transactions are entirely determined by the mutual agreement of the trading parties, and counterparties may

Japan's Central Bank raised its benchmark interest rate to 0.75%, the highest in 30 years, signaling a shift towards monetary normalization. This decision reflects a readiness for further rate hikes, contingent on economic conditions and inflation, impacting investor expectations.