QDII funds continue to diverge from net asset value with extremely high premiums; quota restrictions lead to the failure of arbitrage mechanisms

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【Caixin.com】 On May 18, multiple products, including the Nasdaq Technology ETF Invesco (159509.SZ), the Global Chip LOF (501225.SH), and the China-Korea Semiconductor ETF Huatai Bairui (513310.SH), saw large premiums in the secondary market. An emergency trading halt was implemented at the market open, with trading resuming at 10:30; during the suspension period, redemption services remained normally available.

As of the close on May 18, according to Tonghuashun iFind data, the IOPV (fund share reference net asset value) premium rate of the Nasdaq Technology ETF Invesco was 12.88%, while the IOPV premium rate of the China-Korea Semiconductor ETF Huatai Bairui remained as high as 25.73%. Both are at relatively high levels.

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