Morning Trend | YUEXIU REIT hovers at a low level, is there potential for bottom-fishing opportunities?

YUEXIU REIT (405.HK) continued to experience weak fluctuations at low levels yesterday, with intraday trading volume hitting a recent low. The outflow of main funds from the entire real estate trust sector is evident, and the sentiment for bottom-fishing is low. Recent tightening policies and a shrinking list of refinancing entities have become new concerns, which are unfavorable for the sector's recovery. Currently, most funds in the market have shifted towards stable products, engaging in only short-term arbitrage with real estate trusts, lacking a willingness for strategic allocation. The daily MACD death cross structure continues, with prices testing historical lows twice, and market sentiment is highly cautious. The sector is experiencing severe rotation, and any minor fluctuations could lead to another round of volatility or a plunge. In terms of operations, short-term attention should be paid to bottom-level sporadic movements in conjunction with policy news. If there is a large order surge or positive policy stimulus, there may be a window for a short-term rebound; otherwise, the volume is unlikely to recover, increasing the risk of a plunge. Overall strategy: "No story bottom-fishing" carries significant short-term risks, and it is recommended to strictly control positions. If signs of market support appear along with policy expectations, one can tentatively test the right side, focusing on low support levels and increased trading volume. If the low sentiment persists, one should be wary of a pullback after a sideways breakdown. Policy and large fund flows remain core variables, and intraday signals and announcement information need to be continuously tracked and verified