Once he even tried out begging, just to experience life at its nadir, he said.

In Europe, indexes of the manufacturing and services sectors went down and reached a short-term nadir in October, but experienced rebounds in November and December.

This year's real estate performance will not see an immediate V-shaped recovery following the optimization of COVID-19 management measures and property policy adjustments, and instead, may recover slowly after approaching a nadir before rebounding at a certain point.

Upon better containment of COVID-19 and proactive policy support, the Chinese economy is poised to stage a strong rebound after hitting a nadir in April, said Yin Yue, a macroeconomic analyst at Hongta Securities.

Luo expects a V-shaped recovery in 2022, with second-quarter GDP growth marking a nadir in full-year performance, saying the economy will gradually stabilize in the second half.

However, due to COVID-19 resurgences in some regions in March, property sales growth rates dropped sharply again in March, hitting the nadir of the downturn later than expected.

Qin Peijing, chief strategist of CITIC Securities, said large-scale buybacks had boosted market sentiment as well as share prices in the past when the market was at a nadir.

Researchers from the company said that the A-share market is already at a near-term nadir compared with historical data.

Analysts from PE firm StaRock Investment wrote in a report that both investor sentiment and A-share indexes may have also approached a near-term nadir.

Although key economic data of these economies in the first two months showed more resilience than expected, the effect of monetary tightening has not yet been fully released and the overall slowdown may not have hit its nadir yet.

But compared with the market nadir in April, the impact of less-than-stellar profitability may exert milder impact on the market, he said.

The Chinese economy may hit a nadir in the second quarter and rebound in the second half, when the COVID-19 resurgence is expected to be further brought under control and stronger fiscal support is likely to boost investment and consumption, she said.