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In recent years, global prices have skyrocketed, with central banks around the world taking turns raising interest rates in response. Taiwan's central bank has even increased rates five times in a row. Amid this wave of inflation, traditional investment strategies are facing challenges, and many people's cash holdings are quietly losing value. What exactly is inflation? How should we respond? This article will help you understand the logic behind this economic upheaval.
Money Depreciation: Understanding the Nature of Inflation
The core of inflation is the loss of purchasing power of money. Over a period of time, as the prices of goods continue to rise, the same amount of money can buy fewer items. The most commonly used indicator to measure this phenomenon is the Consumer Price Index (CPI), which reflects the overall change in prices of goods and services in the market.
Simply put, inflation means your money is losing value. A cup of coffee that used to cost 10 yuan now costs 15 yuan, so you need to spend more to buy the same item. What is the economic principle behind this?
Where Does Inflation Come From: Four Major Causes

December 10, 2025, the Taiwan dollar to Japanese yen exchange rate fluctuates around 4.85. The number of people planning to travel abroad or allocate yen as a hedge asset is gradually increasing. But before taking action, you need to understand: which currency exchange method is the cheapest? What is the limit for small transfers? When is the best time to exchange?
We will analyze the actual costs, advantages and disadvantages, and suitable scenarios of Taiwan's four major yen exchange channels.
Is the Japanese yen worth investing in? From travel to asset allocation
Many people immediately think of yen when considering foreign currencies, and there's a reason for that.
Travel and consumption: Cash usage in major Japanese cities remains high (credit card penetration is only 60%), and purchasing agents, online shopping, and long-term working holidays all require yen.
Financial aspect: The yen is one of the three major safe-haven currencies globally (alongside the US dollar and Swiss franc). 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. For Taiwanese investors, allocating yen can

Inflation and Current Dilemmas
In the past two years, soaring prices have become the norm, forcing central banks to implement consecutive interest rate hikes. Taiwan has already gone through 5 interest rate hike cycles. Many people feel fear when they hear the word "inflation," but honestly, we need to first understand what inflation really means in order to respond effectively.
Simply put, inflation is the devaluation of money. Over a period of time, the prices of goods keep rising, and your cash purchasing power declines accordingly. The most commonly used indicator to measure this phenomenon is called the CPI (Consumer Price Index), which directly reflects the extent of price changes.
How does inflation form?
After understanding what inflation means, it becomes clearer how it is generated. In simple terms, it’s because there is too much money in the market, but too few goods. Excess currency chases limited goods, causing prices to naturally rise.
Specifically, there are several driving factors:
Demand-pull: When consumer demand increases, sales of goods go up, prompting businesses to expand production, and profits grow.

Hong Kong Exchanges and Clearing (HKEX) Basic Introduction
Hong Kong Exchanges and Clearing (HKEX, stock code: 0388.HK) is the only securities trading platform in Hong Kong and one of the top ten exchanges in the world, as well as one of the three largest capital hubs in Asia. HKEX was established in 1989 and manages multiple business units including the Hong Kong Stock Exchange, Hong Kong Futures Exchange, and Central Clearing and Settlement System, providing comprehensive trading services for stocks, options, futures, and more.
As Asia's most active capital investment market, HKEX has ranked first globally in IPO fundraising seven times over the past 13 years. It also holds a stake in the London Metal Exchange in the metals trading sector. HKEX is owned by the Hong Kong Special Administrative Region and is regulated by the Hong Kong Securities and Futures Commission.
Complete Analysis of Hong Kong Stock Trading Hours
Core time arrangements that Hong Kong stock investors need to master are as follows:
| Trading Stage | Time | Description |
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How Does the Foreign Exchange Market Work? Understanding Its Unique Market Structure
The foreign exchange market (commonly known as the Forex market) is the largest financial market in the world, with an average daily trading volume exceeding $6 trillion. Unlike centralized exchanges such as the New York Stock Exchange, the Forex market is a decentralized over-the-counter (OTC) trading market with no unified trading venue.
The orderly operation of this market relies on an internal hierarchical system. Imagine this system as a pyramid — at the top are the world's most powerful big banks, in the middle are various institutional investors, and at the bottom are retail investors. Each layer has different trading conditions and entry barriers.
The interbank market at the top of the pyramid is composed of the world's leading banks, including Citibank, JPMorgan Chase, UBS, Barclays, Deutsche Bank, Goldman Sachs, HSBC, and Bank of America, among others. These banks trade directly with each other, either through phone communication or electronic brokerage platforms. The most famous in the market are

December 10, 2025, the NT dollar to Japanese Yen exchange rate is about 4.85. People who want to travel abroad or hedge their investments are starting to get restless. But the question is: Is it really cost-effective to exchange yen now? How can you exchange to save the most money?
Is it a good time to exchange yen now? Timing analysis
Since the beginning of the year, the NT dollar has appreciated by 8.7% against the yen (from 4.46 to 4.85). In other words, your exchange gains from converting yen now are already significant. Especially with the NT dollar facing depreciation pressure, many investors are adopting a strategy of gradually converting to yen as a hedge.
Latest data shows that Taiwan's foreign exchange demand has grown by 25% in the second half of the year, mainly driven by the recovery in tourism and hedging needs. The Bank of Japan Governor Ueda Kazuo recently issued hawkish comments, with market expectations of an 80% chance of interest rate hikes on December 19, potentially raising rates to 0.75% (a 30-year high). Japanese bond yields have hit a 17-year high of 1.93%, and USD/JPY has risen from the beginning of the year.

Update Notice - The United States entered Standard Time on November 2, 2025. The regular trading hours are from 10:30 PM to 5:00 AM Taiwan time; in Hong Kong, it is from 9:30 PM to 4:00 AM.
Why do you need to understand US stock market hours? Three key time points you must remember.
The biggest pitfall for Asian traders is the time difference. The trading hours for US stocks, Hong Kong stocks, and Taiwan stocks are completely staggered. If you're not careful, you might miss market movements or make mistakes. Especially since the US switches between Daylight Saving Time and Standard Time every year, causing the time correspondence to change frequently.
Currently, the situation is: The regular trading hours for US stocks (Eastern Time 9:30-16:00) correspond to 10:30 PM to 5:00 AM local Taiwan time. If you're in Hong Kong, it's from 9:30 PM to 4:00 AM.
US stock markets have three major exchanges, and their trading hours are all synchronized.
The US stock market and Taiwan

For Taiwanese investors, Hong Kong stocks are not only a convenient gateway to the international capital markets but also a strategic window to participate in China's and the global economic growth. This article will start from the current state of the Hong Kong stock market, analyze its trading system in detail, benchmark it against international markets, select Hong Kong stocks with investment value, and guide Taiwanese investors on how to effectively deploy in the Hong Kong stock market.
Unique Advantages and Investment Value of the Hong Kong Stock Market
Market Maturity and Regulatory Norms as Fundamental Guarantees
The development history of the Hong Kong securities market can be traced back to 1866. The first formal exchange was established in 1891. After more than 150 years of evolution, it has become one of the most regulated and mature markets in the world. Compared to other Asian markets, the HKEX has established a strict regulatory system and transparent trading mechanisms, creating a highly fair trading environment for investors. This institutional guarantee allows global institutional and individual investors to participate with confidence.
Geographical advantages and

In the long history of capital markets, stock prices fluctuate in cyclical tides. Investors often look forward to the upward dividends of a bull market but tend to panic during a bear market. However, a deeper understanding of bear market characteristics can actually help investors seize opportunities during market downturns.
Core Definition of Bear Market Characteristics
A bear market is defined as: when the price of the underlying asset drops more than 20% from its recent high, signaling the onset of a bear market phase. This definition applies not only to stocks but also to bonds, real estate, precious metals, commodities, exchange rates, and all categories of cryptocurrencies.
It is important to note that a bear market is fundamentally different from a "market correction." A market correction refers to a short-term decline of 10% to 20%, usually a temporary adjustment; whereas a bear market involves a long-term, systemic downturn that can last months or even years, with far-reaching impacts on asset allocation and psychological expectations.

The daily limit up and limit down of stocks reflect market sentiment. Investors should rationally assess the reasons and avoid blindly following the trend. Limit up allows normal trading, but selling is easy and buying is difficult; conversely, limit down has the opposite effect. Operational strategies include trading related stocks and evaluating the sustainability of positive news. Avoid blindly chasing highs and selling lows; risk control and rational investing are essential.

Blockchain technology has transformed from an obscure topic in recent years to a popular option in the investment circle. However, many people still have only a superficial understanding of "how to invest in blockchain." Besides directly buying coins on trading platforms, what other ways are there to invest in blockchain? Today, we will provide a comprehensive breakdown.
What exactly is blockchain?
Simply put, blockchain is a distributed public ledger. Whenever a transaction occurs, the details of that transaction are recorded and linked together using cryptographic techniques into a "block." These blocks are then connected in chronological order to form a "chain." Rather than being just a financial tool, it is a new way to record and verify information—every participant holds a complete copy of the ledger, and no one can tamper with it.
Four Main Ways to Invest in Blockchain
Currently, the most mainstream methods of blockchain investment in the market include the following categories:
Direct Purchase of Cryptocurrency
This is the most straightforward and common form of investment

For twenty years, China's economic strength has grown from $1.21 trillion to $17.7 trillion, surpassing Japan's $4.23 trillion, demonstrating a disruptive change in the development of both countries. In technology and R&D, China has taken the lead across the board, especially in aerospace, aviation, and new energy vehicles. This year, China ranks first globally in new energy vehicle production and sales. Additionally, China's infrastructure construction far exceeds that of Japan, becoming an important reflection of quality of life. These series of changes symbolize a reshaping of the global power landscape.

"Ethereum will surpass $10,000 in 2026!" — This number appears repeatedly in communities and analysis reports, almost as if it's a foregone conclusion. But do you know? Such predictions are often a double-edged sword; the more attractive the figure, the more hidden the risks.
When the entire market is spreading the same target, reality often takes a completely different direction. $10,000 is not impossible, but the path to reach this price is full of traps.
How are these predictions made?
Most bullish analyses follow a few common patterns:
Cycle analogy method: "The previous bull market saw Ethereum rise by X times, so this cycle should repeat" — this logic ignores a key fact: the market ecology of 2021 and 2026 are entirely different. The emergence of spot ETFs has changed the flow of funds, Layer 2 solutions have decentralized on-chain activity, and public chains like Solana have become real competitors. History will not be completely repli