本周精华总结：A股 & H股：调整周期或近尾声，关注潜在反转信号

Group 1 - The overall attitude towards A-shares and H-shares is changing due to significant challenges in the Chinese economy, including negative inflation data and slowing export growth [2] - A-shares have been in a continuous adjustment phase for eight months since October 8 of the previous year, indicating a difficult market environment [2] - Current A-share valuations are at the 55th percentile, which is not significantly cheaper compared to the Nasdaq at the 58th percentile, leading to a cautious outlook [2] Group 2 - Future movements of A-shares could either be a decline followed by a rise or a direct reversal upwards, with strategies prepared for both scenarios [3] - The Hong Kong stock market is closely related to A-shares and has recovered from previous declines, nearing new highs, but is currently at the 70th percentile in terms of valuation, indicating high market expectations [3]