On the morning of August 10th, during Monday's trading session, several Listed Open-Ended Funds (LOFs) that had previously traded at high premiums experienced synchronized pullbacks. Notably, the Global Chip LOF plummeted to its limit down, yet still maintained a premium of 18%. The SDIC Silver LOF also saw a significant drop, tumbling more than 8% at one point during the session, with its premium rate also exceeding 18%. This market volatility is likely linked to the new regulatory rules unveiled over the weekend. The Shanghai and Shenzhen Stock Exchanges jointly released a draft of new delisting regulations for LOFs for public comment, outlining the specific circumstances under which two categories of products will be mandatorily delisted. The objective is to tackle persistent issues in the on-exchange LOF market, such as speculative trading at high premiums, dwindling liquidity in mini-funds, and vulnerability to price manipulation.

A public fund professional based in Shanghai commented that for QDII (Qualified Domestic Institutional Investor) or commodity futures LOFs currently trading at high premiums, the prospect of delisting could directly curb speculative sentiment. This insight highlights the potential impact of the new regulations on market behavior and investor expectations.