Today (May 31), several popular funds issued temporary trading suspension announcements and highlighted premium risks.
Invesco Great Wall Fund Management Co., Ltd. announced that the Invesco Great Wall Global Chip LOF will be suspended from the start of trading on June 1, 2026, until 10:30 AM on the same day. Notably, chip investments have been highly active this year, and this LOF has already issued over a hundred premium risk warnings.
Simultaneously, the secondary market trading price of the Invesco Great Wall Nasdaq Technology Market Cap Weighted Exchange Traded Open-End Index Securities Investment Fund (QDII) (ticker: Nasdaq Tech ETF Invesco) is significantly higher than its net asset value per share (IOPV), showing a substantial premium. To protect investor interests, this fund will be suspended from the start of trading on June 1, 2026, and will resume trading at 10:30 AM on the same day.
Huaan-PineBridge Fund announced that its Huaan-PineBridge CSI Korea Exchange China-Korea Semiconductor Exchange Traded Open-End Index Securities Investment Fund (QDII) (extended ticker: China-Korea Semiconductor ETF Huaan-PineBridge) has a secondary market trading price significantly higher than its net asset value per share, indicating a large premium. Investors are hereby reminded to be aware of the premium risk in secondary market trading. To protect investor interests, the China-Korea Semiconductor ETF Huaan-PineBridge will be suspended from the start of trading on June 1, 2026, until 10:30 AM on the same day.
Several other funds have also issued premium risk warnings.
Harvest Nasdaq ETF cautioned that its secondary market trading price has recently been significantly higher than its net asset value per share, showing a substantial premium. If the premium does not effectively decrease by June 1, the fund reserves the right to apply for measures such as a trading suspension to warn of risks.
Dacheng Fund announced that its Dacheng Nasdaq 100 Exchange Traded Open-End Index Securities Investment Fund (QDII) (ticker: Nasdaq 100 ETF Dacheng) has a secondary market trading price significantly higher than its net asset value per share, indicating a large premium. Investors are hereby solemnly reminded to closely monitor the premium risk in secondary market trading.
Bosera Fund announced that its Bosera Nasdaq 100 Exchange Traded Open-End Index Securities Investment Fund (QDII) (ticker: Nasdaq 100 ETF Bosera) has shown a significant premium in secondary market trading, and investors are hereby reminded to be aware of the premium risk.
On May 29, the Shanghai Stock Exchange announced that from May 25, 2026, to May 29, 2026, it had taken self-regulatory measures against 301 instances of abnormal trading behaviors, such as price manipulation and false reporting, with a particular focus on monitoring funds with high premiums, including the China-Korea Semiconductor ETF and Global Chip LOF.
Nearly 50% of U.S. Stock QDIIs Suspend or Restrict Subscriptions U.S. stock QDIIs are facing high demand and limited availability.
On May 22, 2026, after eight departments, including the China Securities Regulatory Commission, jointly issued the "Implementation Plan for Comprehensive Regulation of Illegal Cross-Border Securities, Futures, and Fund Business Activities," QDIIs have become the primary legitimate channel for most ordinary investors to participate in U.S. stock investments.
Since April, Wind data shows that as of May 25, the net inflow into just 24 U.S. equity QDII ETFs in the market reached 3.7 billion yuan. Among the 165 QDII funds targeting the U.S. market, nearly 50% are in a state of suspended subscriptions or restricted large subscriptions. Multiple U.S. stock QDIIs have collectively issued premium risk warnings for secondary market trading prices.
Regarding the outlook for U.S. stocks, most institutions recently agree that "the AI narrative is far from over." However, some investors have noted that the recent sharp rally in U.S. stocks is not solely driven by fundamentals, and attention should be paid to potential risks of crowded trades unwinding.
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