全球股市调整或仍将延续

Group 1 - The market experienced a weak rebound followed by continued adjustment, aligning with previous cautious predictions, with the Shanghai Composite Index declining by 0.40% and the CSI 500 Index down by 0.94% [2][3] - The fundamental outlook indicates increasing warning signs in the US economy, with challenges expected for China's economy due to rising tariffs and weakening domestic demand, particularly in real estate sales [2][3] - The technical analysis suggests that the market remains in a downward adjustment trend, with small-cap stocks showing weakness, confirming the ongoing market conditions [2][3] Group 2 - The domestic fundamentals and technical indicators support the continuation of adjustments in the A-share market, with expectations of further declines in the short term [3] - The small-cap sector is beginning to underperform compared to the main board, suggesting a shift in investment style towards larger-cap stocks [3] - Short-term momentum models recommend focusing on industries such as automotive and banking [3]