弱美元环境叠加科技事件密集催化，6月或是新一轮东升西落交易的起点？

Group 1 - The core viewpoint is that June may mark the beginning of a new trading cycle favoring technology growth stocks, driven by a weak dollar environment and upcoming catalysts in the tech sector [1][12] - The semiconductor equipment ETF focuses on 40 companies in the semiconductor equipment and materials sector, with the top ten stocks accounting for approximately 76% of the index, indicating a high concentration [2][4] - The index is heavily weighted towards upstream semiconductor equipment and materials, with "semiconductor materials and equipment" making up about 68% of the index [2][4] Group 2 - Recent restrictions from the U.S. government on chip design software for China have caused market fluctuations, and these external limitations are expected to drive supply chain restructuring and increase domestic demand for advanced semiconductor production capacity [9][10] - Morgan Stanley reports that China's self-sufficiency in AI GPUs is projected to rise from 34% in 2024 to 82% by 2027, indicating rapid improvement in the hardware computing sector [10] - The upcoming semi-annual index rebalancing will remove certain stocks and add others, with a focus on increasing the representation of semiconductor materials and equipment in the index [7][8]