Several previously high-premium LOFs (listed open-ended funds) retreated in Monday morning trading after new draft delisting rules from the Shanghai and Shenzhen exchanges appeared to unsettle speculative positioning. The Global Chip LOF fell by the daily limit, though its premium remained high at 18%, while the SDIC Silver LOF at one point dropped more than 8%, with its premium rate also exceeding 18%. The market move may have been triggered by the exchanges' weekend release of a consultation draft on new LOF delisting rules, which sets out two categories of mandatory delisting scenarios and directly targets long-running issues in the on-exchange LOF market, including speculation driven by persistent premiums, liquidity depletion in mini-funds and susceptibility to price manipulation. A Shanghai-based public fund industry source told Yicai that for QDII (Qualified Domestic Institutional Investor) or commodity futures LOFs currently trading at relatively high premiums, delisting expectations could directly damp speculative sentiment.