STOCKS | CSOP SK Hynix Daily Leveraged (2x) Product Warns of Secondary-Market Premium

CSOP Asset Management issued a notice warning unitholders of market trading risks for its CSOP SK Hynix Daily Leveraged (2x) product (7709), citing a sharp premium in the secondary-market price, according to Ming Pao. As of yesterday, the product’s net asset value (NAV) per unit was $11.9344 (about HK$93.088). As of 12:01 PM today, the estimated intraday NAV per unit was HK$103.4664. Based on the current secondary-market trading price of HK$116, the product was trading at a 12% premium to the midday NAV.