午评：沪指失守3800点，地产、医药等板块走低，银行板块逆市拉升

Core Viewpoint - The major stock indices in the market experienced a downward trend, with the Shanghai Composite Index falling over 1% and breaching the 3800-point mark, indicating a bearish sentiment among investors [1] Market Performance - As of the midday close, the Shanghai Composite Index decreased by 1.23% to 3781.61 points, the Shenzhen Component Index fell by 1.84%, and the ChiNext Index dropped by 1.75%. The Northbound 50 Index saw a decline of over 3% [1] - The total trading volume across the Shanghai, Shenzhen, and Northbound markets reached 171.37 billion yuan [1] Sector Analysis - Various sectors such as tourism, real estate, pharmaceuticals, brokerage, and liquor all experienced declines, while the banking sector showed resilience and increased [1] - The concept of "special valuation" (中特估) was active during this trading session [1] Future Market Outlook - According to CITIC Securities, following the Federal Reserve's interest rate cut, the "15th Five-Year Plan" is expected to become a focal point for the market, emphasizing "anti-involution," service consumption, boosting domestic demand, and industrial upgrades [1] - The market is currently at a high level without a clear trend of topping or retreating, with intensified rotation among previously popular sectors. The overall index is in a phase of horizontal consolidation, with potential support at the 60-day moving average [1] - It is anticipated that the market will continue to exhibit characteristics of rotation and declines in previously high-performing stocks. A cautious approach is recommended, focusing on sector rotation and individual stocks rather than the overall index [1]