Market Overview - The market experienced a significant decline, with the Shanghai Composite Index dropping 1.88% and falling below 3900 points, while the Shenzhen Component Index fell 2.72% and the ChiNext Index dropped 3.18% [1] - Nearly 5000 stocks declined across the two markets, with a half-day trading volume of 1.31 trillion yuan, an increase of 197.5 billion yuan compared to the previous day [1] - The ongoing risk aversion sentiment was influenced by the overnight performance of US stocks, leading to collective declines in the Asia-Pacific markets, with the South Korean KOSPI index down 4% and the Nikkei 225 index down over 2% [1] Sector Performance - The lithium resources and energy metals sectors saw significant pullbacks, with multiple stocks hitting the daily limit down [2] - The solid-state battery sector also faced major declines, with several concept stocks experiencing large drops [2] - The agriculture sector showed resilience, with stocks like Qianyin High-Tech and others hitting the daily limit up, driven by the emphasis on agricultural revitalization and biotechnological advancements [4] Institutional Insights - Zheshang Securities maintains a neutral to optimistic outlook on the market, suggesting a "systematic slow bull" trend, considering various factors such as foreign conditions and domestic policies [5] - Huaxi Securities notes that the market sentiment is cautious, with the potential for a policy-driven rally in sectors like service consumption and real estate as the macroeconomic window approaches its latter half [6] - Debon Securities emphasizes the need to monitor domestic and international economic data, indicating that the market may continue to exhibit a cautious style, focusing on defensive sectors like insurance and banking [6]