Morning Trend | TIANYU SEMI gently rises, is the mid-term capital layout accelerating or is it a short-term tug-of-war?

The Hong Kong stock chip sector continues to show differentiation, with TIANYU SEMI (2658.HK) performing steadily and rising. Despite a relatively calm news environment, the theme of domestic substitution has attracted some funds for medium-term involvement, leading to a gradual increase in stock prices during the day. Overall trading volume remained neutral, with no significant short-term breakout. Technical indicators continue to lean bullish, but there are no obvious signs of large orders targeting the market, and the trend remains primarily within a range. Short-term fund rotation is evident, and participation enthusiasm in the sector is moderate. Yesterday, there was significant differentiation within the semiconductor sector, with major funds concentrated on certain targets. With limited event-driven factors, the willingness of high-position funds to take profits has increased. Attention should be paid to intraday fluctuations and signals of sector style switching; a technical correction is not unexpected, and right-side participation requires continuous observation of news catalysts and fund trends. It is recommended to focus on high-low switching, sector differentiation, and trend sustainability to prevent risks from chasing highs