Today, the A-share market shows a clear divergence, with the ChiNext Index falling by 2.23% and the Shanghai Composite Index down by 0.51%. Although more than 4,000 stocks in the Shanghai, Shenzhen, and Beijing markets have declined, the trading volume of 2.15 trillion indicates that market funds are still actively participating and not fully withdrawing.

The highlights in the market are mainly focused on safe-haven assets. Gold stocks performed outstandingly, with several individual stocks such as Western Gold and Hengbang Shares hitting the daily limit. This is closely related to the increase in global uncertainty and reflects investors' rush for safe assets. The real estate and banking sectors also showed strong momentum, with Suning Universal and Binjiang Group hitting the daily limit, and Xi'an Bank rising more than 6%. These sectors have become safe havens for funds, demonstrating the effects of policy support.

However, the technology sector, especially the semiconductor industry, is under pressure. The stock price of SMIC fell by more than 10%, drawing market attention. This adjustment reflects that the global semiconductor industry is still in a cyclical adjustment phase, and demand has not fully recovered. Discrepancies in market expectations regarding supply and demand dynamics, along with some investors choosing to take profits, have collectively led to significant fluctuations in stock prices. Nevertheless, domestic substitution in semiconductors remains a long-term development direction, and short-term fluctuations do not alter the long-term development logic of the industry.

The innovative drug sector has also seen adjustments, with Huahai Pharmaceutical falling to the limit. This reflects the market's concerns about short-term performance, but in the long term, continuous R&D innovation remains the core competitiveness of pharmaceutical companies.

Overall, the current market exhibits a clear sector rotation characteristic. While investors pay attention to the performance of safe-haven assets, they should also closely monitor the long-term development opportunities in the field of technological innovation, especially the recovery in demand and technological breakthroughs in the semiconductor industry. In the midst of market fluctuations, maintaining rationality and a long-term perspective is particularly important.