收评：创业板指跌近2%，医药等板块疲弱，保险、零售板块逆市拉升

Core Viewpoint - The A-share market is currently experiencing a correction, with major indices declining, but the overall trend remains in an upward channel due to stable macro expectations and policy transitions [1] Market Performance - On the 15th, major indices saw significant declines, with the Shanghai Composite Index down 0.55% to 3867.92 points, the Shenzhen Component Index down 1.1%, and the ChiNext Index down 1.77% [1] - Nearly 3000 stocks in the A-share market were in the red, indicating widespread selling pressure [1] Sector Analysis - Sectors such as semiconductors, media, and pharmaceuticals experienced declines, while insurance, retail, food and beverage, steel, and liquor sectors showed gains [1] - Commercial aerospace and gold concepts were noted as active sectors during this trading session [1] Future Outlook - According to Zhongyin Securities, the A-share market is expected to transition from being driven by policies and funds to being driven by fundamental earnings as macro expectations stabilize [1] - The market is currently in a "bull market continuation" phase, with long-term policy benefits anticipated by 2026, alongside a recovery in domestic demand and innovation-driven profit growth [1] - Short-term focus will be on the selection of the new Federal Reserve chair and the implementation of domestic monetary and fiscal policies [1] - The easing of geopolitical risks and the gradual realization of Sino-US policy expectations are expected to lead to an early start of the cross-year allocation in the A-share market, with a focus on technology and "anti-involution" themes [1]