On January 16th, the Nikkei ETF (513520) staged a high platform dive, with a rapid reversal in the final trading session, rising by over 9% in the early session, but ultimately falling by over 4% by the close. The turnover rate for the day reached 607.18%, nearly reaching a frenzy. The premium rate at one point rose to over 24% during the trading session, but fell to 9.45% by the close. Yesterday, the Nikkei 225 Index closed up by 0.91% at 35901.79 points, reaching over 36000 points at one point during the trading session for the first time since February 1990, hitting a new high in nearly 34 years. Recently, with the continuous rise of the Japanese stock market, there has been a sharp increase in short-term speculative demand for market funds. The recent surge of the Nikkei ETF has sparked widespread discussion in the market. Some investors believe that the Nikkei ETF is overheated in the short term and advise caution, while others are willing to stay atop the mountain even if it means taking risks. Financial commentator Guo Shiliang pointed out that the high premium trend of the Nikkei ETF is largely driven by the profit-seeking effect of A-share investors. The underwhelming performance of A-shares has also accelerated the flow of funds towards investment channels like the Nikkei ETF that have profit-making effects. Market analysts believe that even if investors are bullish on overseas assets, the higher the premium rate, the greater the risk. Therefore, the more prudent approach would be to either choose ETFs with lower premiums to buy or wait for a round of adjustment before bottom fishing.