[Featured Stock] Nickel's 'Soaring'... ETN 'Surges'

[Asia Economy Reporter Hwang Junho] Nickel prices have surged, causing the stock prices of related Exchange Traded Notes (ETNs) to soar.

According to the Korea Exchange on the 24th, the Daishin 2X Nickel Futures ETN (H) was trading at 41,000 won, up 23.42% as of 10:21 AM.

As nickel prices rose, ETN prices also surged in the Korean market.

On the 23rd (local time), nickel surged 15% on the London Metal Exchange in the UK, reaching the exchange limit price of $32,380 per ton.

However, foreign media were unable to find a clear cause for the nickel price increase and estimated it was due to an automated trading system-driven rally. In this regard, the London Metal Exchange recently set a 5% price limit after the nickel price surge, but since last week, it raised the limit from 8% to 12%, and then to 15%.

This content was produced with the assistance of AI translation services.