SHANGHAI, (Reuters) – Shares of energy companies and payment service firms rose sharply Monday on Chinese market as investors placed bets on stocks that could benefit from the conflict in Ukraine. A major fund house warned against speculation.

GF Fund Management released a statement Monday stating that the Dow Jones U.S. Index fund’s price was set at $1000 for qualified institutional investors. Select Oil Exploration and Production Index had a “significantly greater” net asset value.

The statement stated that blindly investing in funds at high premiums to net assets value could suffer significant losses. However, the fund continued to operate normally. This was the second risk statement by GF since Friday. Investors betting on a rise in oil prices pushed the fund’s share value higher in secondary market markets.

Chinese payments stocks rose as investors believed that America and Europe would kick Russia out of SWIFT’s global payment system. This would be a benefit to China’s cross-border system of payment and help accelerate development of its digital currency, the eCNY.

The United States and Europe have increased sanctions in response to Russia’s invasion Ukraine. They announced Saturday that they will banish large Russian banks from SWIFT.

Despite weakness in the broader markets, investors speculated on the effects of the news and drove shares of top Chinese companies that develop digital yuan payments infrastructure, such as Newland Digital Technology Co, Lakala Payment Co, and Client Service International (NYSE:) Inc higher.

The sub-index which tracks the Internet Finance Sector jumped above 2% during the first trading day, before losing its gains.

SWIFT’s sanctions on Russia are “a significant event that will accelerate and de-dollarization,” said Dang Congyu of Founder Securities.

This incident, even though it will not be possible to replace SWIFT immediately, is very good for yuan’s long-term globalization.”

Guosheng Securities echoed this view and recommended Chinese payment stocks. They cited the potential for China’s payment system CIPS (Chinese payment system) to overthrow the dominance of the US dollar.

The digital yuan, analysts Liu Gaochang & Yang Ran said that it will “play a critical role in promoting yuan’s worldwide status” against the backdrop of increased global power competition.

China’s CSI Defense subindex also soared Monday. It rose more than 2.5%, and energy shares rose 1.6% against a 0.35% decline in the blue-chip CSI300.