Suspended contrast refers to the phenomenon whereby sound change brings two phonemes into such close approximation that semantic contrast between them is suspended for native speakers of the language, without necessarily leading to complete merger or neutralization. The existence of suspended contrasts not only raises questions about the nature of the phonetics-phonology interface, but also for theories of sound change that assume sound change is biased toward selective maintenance of phonemes that contribute more to distinguishing existing lexical items in usage. Small differences supporting a suspended contrast are expected to disappear quickly given that they do not serve any apparent communicative functions. It remains a question whether a contrast can be suspended for a considerable period of time. This study revisits a case of suspended contrast in Cantonese between the lexical high rising tone and the high rising tone derived through morphological tone change (pinjam). We use an apparent-time approach to investigate the diachronic trajectory of this neutralization by comparing the distribution of this suspended contrast along both F0 and durational dimensions across two generations of Hong Kong Cantonese speakers. While this case of suspended tonal contrast has been in circulation for almost a century, our findings suggest that the distinction might be disappearing among the younger speakers. Only older speakers maintain a distinction between the lexical and derived rising tones, albeit in very restricted tonal contexts. The fact that this suspended tonal contrast exhibits great sensitivity to contextual and morphological influences may help explain the progression of this case of merger-in-progress.