A股主要股指全线走低，银行板块拉升，电力股崛起

Market Overview - The Asia-Pacific stock markets mostly declined on November 4, with the Nikkei 225 index falling by 1.74% to 51497.2 points, the South Korean Composite Index down by 2.37% to 4121.74 points, and the Australian S&P 200 index decreasing by 0.78% to 8813.7 points [1] - A-shares saw all major indices drop, with the ChiNext Index briefly falling over 2%, and total trading volume in the A-share market shrinking below 2 trillion yuan [1] A-share Performance - The Shanghai Composite Index closed down 0.41% at 3960.19 points, the Shenzhen Component Index fell by 1.71% to 13175.22 points, and the ChiNext Index decreased by 1.96% to 3134.09 points [1] - The North Stock 50 Index dropped by 2.45%, with total trading volume in the Shanghai and Shenzhen markets combined at 193.86 billion yuan, a decrease of 19.45 billion yuan from the previous day [1] Sector Performance - Over 3600 stocks in the market were in the red, with the semiconductor sector experiencing significant declines, including a drop of over 9% for Baiwei Storage and over 5% for Demingli and Jiangbolong [2] - The pharmaceutical sector also fell, with Changshan Pharmaceutical hitting a 20% limit down at the close [2] - Conversely, the banking sector saw gains, with Xiamen Bank rising nearly 6% and other major banks like China Merchants Bank and Industrial and Commercial Bank of China increasing by about 3% [4] Concept Stocks - The cross-strait integration concept surged, with stocks like Pingtan Development hitting a 20% limit up, and others such as Haixia Innovation and Zhangzhou Development also reaching their daily limits [6] - The short drama game concept became active again, with Yue Media achieving three consecutive limit ups and Jishi Media securing two consecutive limit ups [2] - The smart grid concept saw a strong rise, with Zhongneng Electric and Shenma Electric both hitting their daily limits [10] Banking Sector Insights - The banking sector's performance was supported by stable third-quarter financial reports, showing a year-on-year revenue growth of 0.9% and a net profit growth of 1.5% [4] - Analysts expect continued improvement in revenue and profit growth for the year, with low valuations indicating significant value potential [4] Smart Grid Investment - The State Grid Corporation completed fixed asset investments exceeding 420 billion yuan from January to September, marking an 8.1% year-on-year increase [10] - Major projects in ultra-high voltage direct current engineering have been operational, with expectations for total annual investments to exceed 650 billion yuan [10][12] - The ultra-high voltage sector is anticipated to enter a new round of equipment bidding, with several projects expected to begin approval and bidding phases by the end of the year [12]