午评：沪指跌0.38%，保险、券商板块走低，锂电池概念等逆市活跃

Market Overview - The stock indices experienced fluctuations, with the Shanghai Composite Index narrowly holding above 4000 points, while the ChiNext and Sci-Tech 50 indices fell nearly 1% [1] - As of the midday close, the Shanghai Composite Index decreased by 0.38% to 4003.17 points, the Shenzhen Component Index fell by 0.52%, and the ChiNext Index dropped by 0.74%, with a total trading volume of 12,681 billion yuan across the three markets [1] Sector Performance - Coal, insurance, and brokerage sectors declined, while gas, chemicals, oil, and real estate sectors saw gains [1] - Active sectors included cultivated diamonds, perovskite batteries, rare earths, and lithium battery concepts [1] Investment Insights - Galaxy Securities noted that the current technology sector is undergoing adjustments, with some thematic trends showing signs of recovery, although sustainability remains insufficient [1] - The market is expected to maintain rapid rotation of hotspots, with electric grid equipment, lithium batteries, and chemicals showing upward trends during this rotation [1] - The underlying theme reflects a gradual confirmation of the anti-involution narrative, with rising price levels boosting mid-term economic improvement expectations [1] Corporate Earnings and Policy Outlook - The third-quarter reports from listed companies demonstrate resilience in fundamentals, highlighting structural strengths [1] - The "14th Five-Year Plan" draft emphasizes high-quality development and technological self-reliance, aiming to enhance macroeconomic governance effectiveness [1] - As subsequent policy implementations become clearer, expectations for price recovery will solidify the anti-involution sector logic, with the technology sector's trends and performance entering a verification phase [1] - The long-term positive trend in the A-share market remains unchanged [1]