Changxin Technology’s trading volume of 1400+ billion yuan today is basically sucking the liquidity out of the entire semiconductor sector. 💸

Although the overall market looks lively, if you break down the data carefully, you’ll find that after excluding Changxin, the semiconductor sector is actually seeing net outflows. Zhaoyi Innovation hit the daily limit at one point during the session—this is a typical “siphon effect.” Capital is also quite snobbish: once there’s a “new king” with a market cap of 3.28 trillion yuan, who would still be willing to run along with those old stories?

But that doesn’t mean other chip stocks have no chance. Look at upstream equipment and materials stocks—they’re rising as well, because Changxin’s capacity expansion is a real and solid positive. The market is shifting from “trading on concepts” to “looking at performance and industrial-chain position.” For friends who hold other storage-related names, today may be a window to re-examine the logic behind your positions: is the company you hold supplying Changxin, or is it going head-to-head with it? #长鑫开盘跌7.7%