市场调整仍将持续

Group 1 - The market continues to experience a sideways adjustment, with the CSI 300 index down 0.28%, the Shanghai Composite index up 0.03%, and the CSI 500 index unchanged for the week, indicating an ongoing mid-term adjustment trend [3] - Both domestic and U.S. economic data have shown signs of weakness, with China's production, consumption, and real estate sales data in November continuing the previous adjustment trend, reflecting a lack of clear upward momentum since March [3] - The U.S. unemployment rate rose to 4.6% in November, suggesting the economy is "very close" to recession, while retail data and inflation indicators also declined, indicating a need for cautious adjustments to earnings expectations for U.S. stocks [3] Group 2 - The main board is recommended to maintain a low position due to structural differences in external and internal demand, despite a record trade surplus this year [4] - The small and mid-cap sector has shown volatility, but the overall mid-term trend remains cautious, suggesting a continued low position similar to the main board [4] - No specific industries are recommended for short-term momentum focus [4]