The CSOP Nikkei 225 Daily (2x) Leveraged Product (07262) saw its shares drop sharply during Friday's trading session. After initially gaining more than 4% earlier in the day, the ETF reversed course to fall 5.18%, trading at HK$190.40 with a turnover of HK$1.7089 million at the time of writing.

Japanese equities came under pressure today, with the Nikkei 225 index closing down 2.54% at 67,460.73 points. The downturn in Tokyo coincided with rising global bond yields, as the US 30-year Treasury yield climbed to its highest level since June 2007, briefly touching 5.326% on Tuesday.

With recent economic data pointing to softer momentum, a growing number of traders are betting that the Federal Reserve will refrain from raising interest rates to curb inflation. Meanwhile, Japan's 10-year government bond yield advanced 2.5 basis points to 2.945%, marking a fresh 30-year high in the country's long-term borrowing costs.