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Liquidity mining is an investment method that earns returns by providing trading liquidity. Participants deposit tokens into trading platforms and receive platform tokens and trading fees in return. Although liquidity mining does not require hardware, it faces challenges such as scam risks, smart contract vulnerabilities, and impermanent loss. It is suitable for investors who hold tokens long-term, but risk management should be emphasized, and it is recommended to allocate 30% of your investment to this. Choosing large, secure, and audited platforms and major cryptocurrencies is an effective strategy to reduce risk.

After more than two years of silence, construction stocks experienced a clear market reversal in 2024. Capital has gradually shifted away from the previously overly concentrated technology sector toward domestic demand-related construction stocks. What investment logic does this reflect? This article will analyze in depth the investment opportunities, leading stock selection, and risk management strategies for construction stocks.
Three Major Drivers Behind the Construction Stock Rally
1. The Direct Impact of Improved Housing Market Conditions
According to data from Taiwan's Ministry of the Interior, residential transaction volume in the first quarter of 2024 increased by 28.3% year-on-year, with housing prices remaining high. This indicates that the revenue and profitability of construction companies will see a significant boost, laying a performance foundation for stock price increases.
2. Continuous Policy Support
Although the government has introduced measures to curb housing market speculation, long-term homebuyers are minimally affected. More importantly, policies such as "New Qing An" and other home purchase incentives continue to stimulate housing demand, further boosting the performance of construction stocks.

Short selling stocks is a trading strategy that profits from a decline in stock prices, but it carries very high risks. Investors borrow assets to sell first and buy back later to profit from the price difference. The short selling strategy requires selecting bearish targets, accurately timing the market, engaging in short-term trading, and setting stop-losses to control risk. The key is to understand its risk mechanisms and market dynamics. It is recommended for beginners to practice in a simulated environment, and only proceed to real trading after gaining familiarity.

The yen's continued depreciation has attracted market attention, with EUR/JPY reaching a record high. Japan's new Prime Minister hinted that monetary policy might slow down, weakening the yen's attractiveness. Market intervention expectations vary; Bank of America believes intervention is needed only when it reaches 158, while Goldman Sachs thinks it needs to hit the 161-162 range. Moving forward, the exchange rate trend will be influenced by US economic data and Japan's stimulus measures.

Which Hong Kong brokerage should you choose for investing in Hong Kong stocks? Fees, features, and account opening thresholds vary. This article compiles and organizes the characteristics, costs, and user experiences of five mainstream Hong Kong stock trading platforms to help different types of investors find the most suitable option.
Overview of Five Hong Kong Brokers: Features and Trading Markets
| Broker | Core Features | Tradable Markets |
|--------|----------------|------------------|
| Changqiao Securities | Strong social interaction features, suitable for beginners | Hong Kong stocks, US stocks, A-shares, Singapore, Germany, Japan, UK, Australia |
| Interactive Brokers | The most comprehensive products, full professional tools | 135 markets worldwide |
| Huasheng Securities | No Hong Kong card needed, abundant financial information | Hong Kong stocks, US stocks, A-shares |
| Webull Securities | Lowest fee structure | Hong Kong stocks, US stocks, A-shares |

In the foreign exchange market, quickly identifying currency symbols is a fundamental skill for traders, affecting trading efficiency. Understanding the meaning of currency symbols and shortcut keys can improve execution speed and avoid confusion (such as the various uses of $ and ¥). Knowing the trading logic of currency pairs helps in accurately judging price fluctuations. By mastering these skills, traders can conduct global trading more efficiently.

The "Earthquake Effect" in the Taiwan Stock Market
On April 3, 2024, the day Taiwan experienced an earthquake, the Taiwan stock market opened down by 158 points, dropping to 20,270 points. Interestingly, the entire market showed a clear divergence: while stocks in traditional industries generally suffered setbacks, a group of special stocks rose against the trend, with China Steel Structure hitting the daily limit up, and steel, cement, and electrical wire and cable stocks also turning red. These rising stocks, riding the trend, are known as the "Earthquake Concept Stocks."
Why does an earthquake drive these stocks higher?
The reason why earthquake concept stocks perform remarkably during disasters actually reflects a simple market logic: natural disasters often mean reconstruction opportunities.
When an earthquake damages buildings, infrastructure, and various facilities, a large amount of building materials, engineering services, and equipment are needed for recovery. This expectation naturally causes investors to focus on companies related to the following sectors:
Construction and Building Materials Companies

The Japanese yen experienced intense volatility in 2025, rapidly depreciating from a high near 160 at the beginning of the year to 140.477 in April, then fluctuating repeatedly, and falling below 157 in November to hit a new low for the second half of the year. This series of changes has shaken global financial markets and raised a core question among many investors: what is the outlook for the yen? Is there still room for appreciation?
Key Drivers of the Yen Outlook
Whether the yen can reverse its downward trend mainly depends on three core factors:
Central Bank Policy Shift is the Decisive Force
The direction of the Bank of Japan's monetary policy will directly determine the yen's outlook. To achieve a genuine appreciation of the yen, the Bank of Japan needs to send clear and firm signals of policy normalization, especially by providing a clear timetable for interest rate hikes. The current market focus has shifted to the December policy meeting—whether the central bank will raise interest rates will be a critical turning point for the yen's movement. Ueda Kazuo has already signaled strongly during a parliamentary inquiry that the central bank will...

The central bank has recently introduced a series of digital yuan policies, promoting the internationalization of the RMB and accelerating the layout of foreign clearing banks; at the same time, it is enhancing consumption through internal cooperation, and digital yuan interest calculation will be launched next year. In response to the threat of stablecoins, the central bank has chosen to develop the digital yuan, combining the internal and external circulation strategies with smart contract technology to promote financial innovation, expand application scenarios, and enhance the global competitiveness of the RMB.

There is a story circulating in the crypto world, regarded as the deepest metaphor in this industry.
An investor bought nearly worthless PEPE tokens for $27. Over time, his wallet balance today shows $67 million. But this wealth is like being separated by an invisible wall — he cannot withdraw, transfer, or exchange it for any tangible assets.
With a simple keystroke, the developer just added his address to the blacklist. The digital remains, but it forever becomes an illusionary symbol.
Illusion of Control and Ownership
This case exposes a common misconception: owning the private key equals owning the asset. In reality, in this PEPE tragedy, no matter how much control the victim has over the wallet, the locked-in outcome cannot be changed.
It reveals the first layer of risk in the crypto world — opacity at the contract level. Developers hold absolute power, and users’ asset security is built on others’ "conscience."

Dogecoin (DOGE), as a somewhat controversial cryptocurrency, relies on community consensus, commercial potential, and technological advancements for its success. However, it faces challenges such as inflation pressure, regulatory risks, and celebrity influence. Although it has achieved some success in payment applications, real commercial expansion remains slow, and whether technological upgrades can proceed as scheduled is uncertain. Investors should exercise caution, control their positions, and monitor key indicators.

The essay explains the differences between APY and APR in cryptocurrency investments, emphasizing the significance of understanding these terms for accurate return calculations. It outlines how compounding affects profits and when to use each metric for informed investment decisions.

Why Are Defense Stocks Worth Watching Now?
In 2024, the global situation is turbulent, from the Ukraine-Russia conflict to escalating tensions in the Middle East. Modern warfare no longer relies solely on manpower. Drones, precision missiles, information warfare—these high-tech weapon systems have become the focus of military competition among countries. Alongside this, national defense budgets are increasing year after year.
There is a simple logic behind this: if technology can replace human labor, countries are willing to invest money in this era of declining birth rates. As a result, a large number of companies producing military equipment are entering a period of prosperity.
So, which defense stocks are worth buying? How to determine if a company truly benefits? This article starts from industry characteristics to outline the investment logic of defense stocks.
What are defense stocks? Who is in this business?
The definition of defense stocks is broad—any listed company providing products or services to the military counts. From small items like military uniforms and water bottles to large systems like fighter jets and missile systems, as long as the clients are the Ministry of Defense or government agencies.

Many newcomers entering the cryptocurrency market often feel confused—what exactly is the difference between a Token and a Coin? Why do people sometimes refer to them as "tokens"? The root of this question lies in the rapid evolution of the cryptocurrency ecosystem.
Token Meaning Explanation: More Than Just a Name, It Represents Rights
The meaning of token encompasses multiple interpretations such as pass, token, and digital asset. Essentially, a token represents a specific right, credential, or digital asset carrier that can be traded, transferred, and exchanged on its corresponding blockchain network.
This concept truly gained popularity after Ethereum launched the ERC-20 standard in 2015. Before that, the cryptocurrency world was mainly composed of "Coins" like Bitcoin, Litecoin, Dogecoin, and others, with no confusion. However, with the explosion of the Ethereum ecosystem, anyone can build on Ethereum

Start by understanding commodity trading through investment methods
Many beginners are often intimidated by the vast variety of commodities when first approaching commodity trading. However, in reality, approaching it from the perspective of investment methods can help you understand the market logic more quickly.
Derivatives trading is the main way to participate in commodity trading, with futures and options being the most core tools. For beginners, commodity futures are an essential entry point. Each futures contract corresponds to a specific spot commodity, for example, buying crude oil futures is essentially betting on the spot price of crude oil for a certain month.
This means that before participating in commodity trading, you need to clarify two elements: what is the investment target (crude oil or copper?), and when does the contract expire. The latter is crucial because the logic of futures pricing is based on the market’s forecast of future spot prices.
Core logic of commodity trading: driven by fundamentals
Influences on commodities

Bank of Japan Governor Kazuo Ueda's hawkish stance has sparked strong market expectations of a rate hike in December, with the probability exceeding 80%. Analysts generally interpret his remarks as a signal of a rate increase, causing USD/JPY to fall back to 154.66. As the interest rate differential narrows, market forecasts for the yen's appreciation continue to heat up and may drop to the 150 level by early 2026.

The EUR/USD pair remains positive at 1.1755, supported by ECB policies and technical indicators. Key resistance is at 1.1820 while 1.1655 offers support. Traders should consider these levels as favorable buying opportunities continue.