隔夜外围资产全部下跌，假后 A 股割裂式突破 2025 年 10 月 10 日 股指期货早报 2025.10.10 报告摘要： 海外方面，因美国联邦政府陷入停摆，周四美初请失业金人数未 公布。另外隔夜美联储官员发表的言论指向其内部对于后续降息的割 裂。威廉姆斯表示因劳动力市场放缓，支持进一步降息。巴尔表示应 谨慎降息。卡什卡利表示同意巴尔的看法。因失去数据的指引以及对 未来不确定性，隔夜外围资产基本下跌，美元指数上涨，美债收益率 短端长端上行，黄金下跌，美三大股指集体下跌，纳斯达克中国金龙 指数下跌，离岸人民币汇率升值。地缘政治环境的变化以及美联储对 于降息的态度依旧是后续需要跟踪的要点。 国内盘面上看，周四节后迎来开门红，大盘高开震荡上涨 1.32%， 深成指上涨 1.47%，创业板指上涨 0.73%，市场呈现指数大反弹，但 个股两极分化的走势。因受益假期外围黄金走强，昨日周期板块上行， 科技板块内部分化。市场走势割裂。板块上看，有色、钢铁、煤炭、 公共事业涨幅居前，传媒、房地产、社会服务、汽车跌幅居前。全市 场 3109 只个股上涨，2184 只个股下跌。虽然有 100 只个股涨停，但 上一交易日连板的个 ...

美经济数据韧性打压降息预期，A 股科技结构性行情 2025 年 9 月 26 日 股指期货早报 2025.9.26 报告摘要： 海外方面，美第二季度实际 GDP 年化季率终值为 3.8%，高于预 期和前值 3.3%；第二季度实际个人消费支出季率终值为 2.5%，高于 预期 1.7%和前值 1.6%；美二季度核心 PCE 物价指数年率季化终值为 2.6%，高于预期和前值 2.5%；美 8 月耐用品订单月率录得 2.9%，高 于预期-0.5%和前值-2.7%。数据均指向美经济的韧性，进一步打压美 联储降息预期。在前期美联储降息被市场充分反映下，市场走出相反 走势，隔夜美元指数延续上涨，美债收益率短端长端均上行，黄金回 落后上涨最终收微涨，美三大股指集体收跌，纳斯达克中国金龙指数 上涨，离岸人人民币汇率贬值。 国内盘面上看，周四大盘低开震荡微跌 0.01%，深成指上涨 0.67%，创业板指上涨 1.58%，市场呈现出震荡分化走势。主要指数基 本都上涨，但个股却是普跌。拖累指数主要是传统板块，科技板块活 跃市场氛围。且科技与银行的跷跷板明显，调控力度可见。板块上看， 传媒、通信、有色、电力、计算机涨幅居前，纺织服饰、 ...

股指早报 A 股缩量反弹，股指维持震荡整固 2025 年 9 月 25 日 股指期货早报 2025.9.25 报告摘要： 海外方面，美 8 月新屋销售总数年化 80 万户，高于预期 65 和前 值 66.4，数据指向美房地产的韧性。另外美联储官员古尔斯比表示 下次会议不愿支持降息。在昨日美联储主席鲍威尔向市场释放对后续 美联储货币政策不确定信号后，美联储官员释放的鹰派信号指向目前 美联储官员内部观点差异较大。打压了市场对于美联储降息预期。隔 夜美元指数上涨，美债收益率短端和长端上行，黄金下跌，美三大股 指集体下跌，纳斯达克中国金龙指数上涨，离岸人民币汇率贬值。目 前地缘政治不确定性增加，俄罗斯被制裁风险也在上升，资产波动率 在上升。 国内盘面上看，周三大盘上涨 0.83%，深成指上涨 1.8%，创业板 指上涨 2.28%，市场呈现反弹走势。在 924 一周年，上一轮指数快涨， 此轮明显节奏慢下来，且主要是围绕科技板块的结构性行情。板块上 看，电力设备、电子、传媒、计算机、房地产涨幅居前，银行、煤炭、 通信下跌。全市场 4457 只个股上涨，852 只个股下跌。消息上看， 阿里 CEO 吴泳铭表示在推进三年 3 ...

股指早报 外围地缘政治不确定性上升，股指维持震荡整固 2025 年 9 月 24 日 股指期货早报 2025.9.24 报告摘要： 海外方面，美 9 月标普全球制造业 PMI 初值录得 52，符合预期 但低于前值 53；9 月标普全球服务业 PMI 录得 53.9，低于预期 54 和 前值 54.5；美 9 月里奇蒙德联储制造业指数录得-17，大幅低于预期 -5 和前值-7。数据指向美经济边际回落但保持韧性。另外美联储主 席鲍威尔演讲表示对美经济放缓，失业率上升，通胀回升保持忧虑， 为应对经济变化，美联储在最近的会议上将联邦基金利率下调 25BP， 但鲍威尔并未承诺在下次议息会议上继续降息，表示其利率立场"依 然适度限制"。同时在回答问题时，鲍威尔表示股市价格目前相对偏 高。左右摇摆且不明确的后续货币政策路径削弱了近期降息逻辑。另 外美地缘政治方面策略有所改变，美国总统特朗普首次表态称乌克兰 有望收复全部领土，并鼓励盟国在俄罗斯军机闯入北约领空时将其击 落。这指向后续地缘政治不确定性增加。隔夜资产走势来看，美元指 数收跌，美债收益率 2 年 10 年期回落，黄金创新高，美三大股指齐 下跌，VIX 波动率上升， ...

Report Summary 1. Report Industry Investment Rating No information provided in the given content. 2. Core View of the Report - The preventive interest rate cut by the Federal Reserve will boost subsequent risk assets and equity markets. A-shares rebounded on Wednesday, with the Shenzhen market performing significantly stronger than the broader market, and a clear structural market in technology stocks. In the short term, stock index futures may seek to break through the upper limit of the trading range. The strategy remains unchanged, focusing on technology growth and large financial sectors, such as computing power and robotics in specific sectors, and maintaining a long position in the SSE 50 and CSI 1000 in stock index futures [2][3][5]. 3. Summary by Relevant Catalogs 3.1 Market Review - **Overseas Market**: In August, the annualized total of new housing starts in the US was 1.307 million units, lower than the expected 1.365 million and the previous value of 1.429 million. The total number of building permits was 1.312 million units, lower than the expected 1.37 million and the previous value of 1.362 million, indicating a weakening of the US real estate market. The Federal Reserve announced a 25 - basis - point interest rate cut at its September meeting, and the market's expectation for the number of subsequent interest rate cuts this year increased from 1 to 2. The Fed's statement showed a dovish stance, but Powell's speech was hawkish, leading to significant fluctuations in overnight assets [2][7]. - **Domestic Market**: On Wednesday, the broader market opened lower, fluctuated, and then rose 0.37%. The Shenzhen Component Index rose 1.16%, and the ChiNext Index rose 1.95%. The market showed a pattern of index rebound but stock differentiation. Traditional heavy - weight stocks pressured the index, while technology stocks supported the market, with a clear structural market in technology stocks. Among sectors, power equipment, automobiles, household appliances, coal, and machinery had the highest gains, while agriculture, forestry, animal husbandry, and fishery, commerce and retail, social services, food and beverages, and textile and apparel had the largest losses [3][8]. 3.2 Important News - **Federal Reserve Meeting**: The Fed cut interest rates by 25 basis points in September, with only Milan opposing and supporting a 50 - basis - point cut. Powell said the labor market risk was skewed downward, and this rate cut could be seen as a risk - management measure. The median of the dot - plot implied a total of 3 interest rate cuts (75 basis points) this year and 1 cut next year. Milan hoped for a total of 150 basis points of cuts this year. Powell also implicitly expressed concerns about stagflation [9][10]. - **Other News**: The EU announced sanctions against Israel; the US Treasury Secretary's property issue was similar to the reason for Cook's removal; the Bank of Canada cut the benchmark interest rate by 25 basis points to 2.50%; the State - owned Assets Supervision and Administration Commission will promote strategic and specialized restructuring and integration of state - owned enterprises; from January to August, the securities transaction stamp duty revenue increased by 81.7% year - on - year, and the national general public budget revenue was 14.8198 trillion yuan, up 0.3% year - on - year; Li Jiachao aims to make Hong Kong an international gold trading market; the Ministry of Industry and Information Technology solicited opinions on standards for intelligent connected vehicle combined driving assistance [11][12]. 3.3 Today's Strategy - The Federal Reserve cut interest rates by 25 basis points as expected, and there will be 2 more cuts in the second half of the year. Although overnight asset prices fluctuated significantly due to Powell's hawkish remarks, the preventive interest rate cut will boost the subsequent equity market. The strategy remains unchanged, focusing on technology growth and large financial sectors, such as computing power and robotics in specific sectors, and maintaining a long position in the SSE 50 and CSI 1000 in stock index futures [2][5][13]. 3.4 Futures Market Tracking - **Futures Performance**: Data on the closing prices, settlement prices, price changes, price change rates, basis, and other indicators of various stock index futures contracts such as the SSE 50, CSI 300, CSI 500, and CSI 1000 are provided, showing the performance of different contracts on a specific day [15]. - **Trading Volume and Open Interest**: Data on the trading volume, trading volume changes, turnover, turnover changes, open interest, open interest changes, and other indicators of various stock index futures contracts are provided, as well as the changes in the net positions of the top 20 member institutions [16]. 3.5 Spot Market Tracking - **Market Index Performance**: Information on the current points, daily, weekly, monthly, and annual price changes, trading volume, price - to - earnings ratios, and other indicators of major market indices such as the Wind All - A, Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index is provided [39]. - **Sector Performance**: The performance of various sectors, including upstream, mid - stream, consumer, TMT, finance, and public utilities sectors, is presented, including price changes, trading volume, and price - to - earnings ratios [39]. - **Market Style Impact**: The impact of different market styles (cyclical, consumer, growth, financial, and stable) on major market indices such as the SSE 50, CSI 300, CSI 500, and CSI 1000 is analyzed, including the number of stocks, weights, and daily, weekly, monthly, and annual contributions [40][41]. 3.6 Liquidity Tracking - **Central Bank Operations**: Information on the central bank's open - market operations, including money injection, money withdrawal, and net money injection, is presented [52][53]. - **Shibor Rates**: The levels of Shibor rates for different tenors (overnight, 1 - week, 2 - week, and 1 - month) are shown [52][53].

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoint of the Report Supported by biodiesel policies, oils and fats are expected to be prone to rising and difficult to fall. In the short term, the market will return to a volatile trend. For oils and fats to rise again, new drivers are needed, specifically problems on the supply side; otherwise, the upward momentum will be weak. It is recommended to look for long - position opportunities on dips [92]. 3. Summary According to the Directory 3.1 Market Review - The prices of three major oils have risen alternately. The spread between soybean oil and palm oil has fluctuated, affected by various factors such as USDA's yield and area adjustments, tariff policies, crude oil prices, and biodiesel policies [5][6]. 3.2 Soybean Oil - **USDA's Adjustment of U.S. Soybean Planting Area**: USDA unexpectedly and significantly reduced the estimated U.S. soybean planting area. The U.S. soybean balance sheet shows that the 2025 - 08 data has decreased compared to previous periods, and there is a possibility of further tightening of the balance sheet and lower inventories [9]. - **Pro Farmer Field Inspection Results**: The number of soybean pods in major producing states in 2025 shows a mixed trend compared to 2024, with some states having an increase and others a decrease. The estimated yield per acre of 53.6 bushels provides room for a downward adjustment [10]. - **Soybean Growth Indicators**: As of the week ending August 24, the U.S. soybean good - to - excellent rate was 69%, higher than expected. The pod - setting rate was 89%, and the defoliation rate was 4%. As of the week ending August 26, about 11% of the U.S. soybean planting area was affected by drought [20]. - **SRE Announcement**: On August 22, EPA announced the handling of 175 small refinery exemption (SRE) applications from 38 small refineries in the 2016 - 2024 compliance years. It is expected not to affect the demand for biofuels [22]. - **South American Exports**: Brazil's soybean exports in July were 12.2573 million tons, a year - on - year increase of 8.95%. Argentina adjusted its soybean, soybean oil, and soybean meal export tariffs [31][32]. - **Domestic Situation in China**: China's soybean imports in July were 11.666 million tons. The soybean oil mill operating rate remained high, and soybean oil was expected to continue to accumulate inventory. In late August, China exported soybean oil again, with an expected monthly average export volume of 3 - 50,000 tons from September to December [37][40]. 3.3 Palm Oil - **Malaysian Inventory and Production**: In July, Malaysia's palm oil production was slightly lower than expected, exports met expectations, and inventory was lower than expected. From August 1 - 25, 2025, production decreased by 1.21% compared to the same period last month, and exports increased by 10.9%. Malaysia plans to replant palm trees [50]. - **Indonesian Production and Policy**: In June, Indonesia's palm oil production increased by 15.96% month - on - month, contrary to rumors. The government's crackdown on illegal palm plantations may affect future production. Indonesia plans to implement the B50 policy in 2026, but it is unlikely to be implemented in the short term [53][58]. - **Indian Imports**: India imported palm oil, soybean oil, and sunflower oil in July. It is rumored that India purchased palm oil from Latin America and imported rapeseed oil from the UAE. The Indian government may reduce the import tariff on rapeseed oil [66]. - **Chinese Imports and Inventory**: China's palm oil imports in July were 180,000 tons, a year - on - year decrease of 48.57%. With the decline in imports, inventory is expected to peak and decline [76]. 3.4 Rapeseed Oil - **Canadian Rapeseed Production**: Canada's estimated rapeseed production for the 2025/26 season is expected to increase by 3.6% year - on - year, as the increase in yield per unit offsets the decline in area [86]. - **Anti - Dumping Preliminary Ruling**: On August 12, 2025, China's Ministry of Commerce announced a preliminary ruling on anti - dumping investigations into Canadian rapeseed, setting a 75.8% deposit ratio. This will increase the cost of importing Canadian rapeseed and tighten domestic rapeseed supply. China will purchase Australian rapeseed, and domestic rapeseed imports will continue to tighten before the end of this year, accelerating the pace of rapeseed oil inventory reduction [89].

股指早报 特朗普罢免美联储理事，A 股缩量十字星 2025 年 8 月 27 日 股指期货早报 2025.8.27 报告摘要： 海外方面，美 8 月咨询会消费者信心指数录得 97.4，高于预期 96.2，低于前值 98.7；美 6 月 SPCS20 座大城市未季调房价指数年率 录得 2.1%，与预期一致低于前值 2.79%。数据是想美消费和房地产的 边际降温。在美联储方面，特朗普试图罢免美联储理事库克，媒体报 道特朗普政府正在权衡影响地方联储的方案。特朗普的动作影响过于 重要，隔夜市场对此反馈不同，长期会影响美联储的独立性，短期会 带来美联储的降息预期抬升，对此美元指数下跌，美债收益率走陡， 黄金收涨，美三大股指集体收涨，纳斯达克中国金龙指数上涨，离岸 人民币汇率升值。目前市场在观察该事件后续发展，如果特朗普真正 成功，那么可能美股债汇三杀的情况会重新上演。 国内盘面上看吧，周二大盘低开震荡下跌 0.39%，深成指上涨 0.26%，创业板下跌 0.76%，市场呈现震荡分化走势。大金融权重拖累 大盘，热点题材虽活跃，但未形成板块效应。消费电子内部分布不均， 盘面更多是强势个股的独立行情。板块上看，农林牧渔、美容 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints - A-shares showed an independent market trend, with Monday's sharp rise driven more by sentiment. The view of a long-term slow bull market remains unchanged. In the short term, if the market fails to break through 3900 points, it may adjust, with an expected adjustment range of 3700 - 3750. It is advisable to avoid micro-cap stocks in late August, and focus on core blue-chip dividends such as dual innovation leaders and securities firms [2][11]. Summary by Directory 1. Market Views 1.1 Overseas Overnight - The annualized total of new home sales in the US in July was 652,000 units, higher than the expected 630,000 but lower than the previous value of 656,000, indicating the resilience of the US real estate market. Market expectations for a Fed rate cut have declined, with the probability of a 25BP rate cut in September dropping from 92% after Powell's speech to 82%. The decline in rate cut expectations affected the overnight capital market, with the US dollar index rising and other assets falling. The Nasdaq Golden Dragon China Index rose, and the offshore RMB exchange rate appreciated [1][5]. 1.2 Domestic Market Review - On Monday, the broader market rose 1.51%, the Shenzhen Component Index rose 2.26%, and the ChiNext Index rose 3%, with market trading volume exceeding 3 trillion. The rise of Cambricon drove the chip sector, and technology was the main market theme. Communication, non-ferrous metals, real estate, and steel led the gains, while beauty care, textile and apparel, petroleum and petrochemicals, and light manufacturing led the losses. There were 3349 rising stocks and 1896 falling stocks in the entire market. Shanghai's new real estate policies significantly boosted the sentiment of the real estate sector and brought structural opportunities [2][6]. 1.3 Important News - Trump plans to cut drug prices by 1400% - 1500% and impose tariffs on drugs; he hopes to meet with Kim Jong-un this year; Intel believes that government shareholding poses a risk to its business, and the government shareholding may increase to 15%, while Trump will continue to make similar deals. The Fed's Logan said there is still room to reduce bank system reserves, and the standing repo facility may be reopened in September. The National Development and Reform Commission will improve policies to expand domestic demand, and the CPC Central Committee and the State Council issued opinions on promoting green - low - carbon transformation and strengthening the national carbon market. Shanghai optimized real estate policies and mortgage rate pricing mechanisms [7][9][10]. 1.4 Today's Strategy - The Fed's rate cut expectations affect the overnight capital market, while A - shares have an independent trend. Currently, A - shares are driven by policies and liquidity. In the short term, if the market fails to break through 3900 points, it may adjust, with an expected adjustment range of 3700 - 3750. Avoid micro - cap stocks in late August and focus on core blue - chip dividends [11]. 2. Futures Market Tracking - Data on the performance, trading volume, and positions of various futures contracts such as the Shanghai 50, CSI 300, CSI 500, and CSI 1000 are presented, including closing prices, settlement prices, price changes, trading volumes, and open interest [13][14]. 3. Spot Market Tracking - Information on the performance of the spot market, including the current points, daily, weekly, monthly, and annual price changes, and trading volumes of major indices such as the Wind All - A, Shanghai Composite Index, and Shenzhen Component Index, as well as various sectors, is provided. The impact of market styles on major indices and the valuation of important indices and Shenwan sectors are also analyzed [32][33][34]. 4. Liquidity Tracking - Data on the central bank's open market operations and SHIBOR interest rates are presented to reflect market liquidity [46][47][48].

股指早报 鲍威尔释放中性偏鸽信号，A 股顺势而为 2025 年 8 月 25 日 股指期货早报 2025.8.25 报告摘要： 海外方面，上周美国经济数据有所反弹，8 月服务业 PMI 和制造 业 PMI 均超预期，制造业回升至荣枯线上方。另外周五鲍威尔在杰克 逊霍尔央行年会上表示风险平衡的转变可能需要调整政策。其认为就 业风险趋于上行，关税引发的通胀或是一次性的，货币政策上美联储 需要在滞胀风险中取得平衡，暗示降息。但是对于长期货币政策上认 为应该回落正常，也就是长期 2%的通胀目标和充分就业，这意味降 息的幅度不会太大。中性偏鸽的信号超出市场预期，市场对今年降息 预期回升，上周美元指数下跌，美债收益率回落，黄金上涨，美三大 股指道指和标普上涨，纳指微跌。关注本周将公布 7 月 PCE 数据和经 济数据，如果经济活动回暖，那么又可能增加 9 月不降息的预期。 国内方面，在公布的 7 月经济数据工业增加值、零售销售和固定 资产投资均不及预期的前提下，上周 A 股走出反弹走势，创去年 924 以来新高。在经济数据低于预期下，市场对于后续经济政策加码的预 期增强，反而支撑 A 股，同样也能反映出 A 股围观资金的 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The significantly higher-than-expected US PPI in July dampened the market's expectation of substantial future interest rate cuts by the Federal Reserve, leading to a correction in risk assets that were previously priced too optimistically for rate cuts. The domestic A-share market experienced a single-day correction after reaching a new high without a clear market leader. The correction is normal, given the weak fundamentals and capital-driven nature of the A-share market, and there is no need for excessive concern. The report maintains a long-term bullish outlook, suggesting a short-term focus on individual stocks rather than the index, and emphasizes rotation opportunities within the technology growth sector. In terms of stock indices, it recommends going long on the Shanghai 50 and CSI 1000 [2][9]. Summary by Directory 1. Market Views 1.1 Overseas Overnight - The US PPI annual rate in July was 3.3%, significantly higher than the expected 2.5% and the previous value of 2.4%. The monthly rate was 0.9%, higher than the expected 0.2% and the previous value of 0. This indicates the impact of tariffs on the US production side. The unexpectedly high PPI has dampened the expectation of substantial future interest rate cuts by the Federal Reserve. According to the FedWatch tool, the probability of a 25-basis-point rate cut in September has slightly decreased to 92.1%, and the probability of a 50-basis-point cut has dropped from 64.4% to 55.2%. Overnight, US stocks and bonds declined, the US dollar index rose, and gold fell as the market adjusted its overly optimistic pricing of future Fed rate cuts. The Jackson Hole Symposium next week will be crucial to watch for the Fed's stance on future monetary policy [1][4]. 1.2 Domestic Market Review - On Thursday, the broader market opened higher but oscillated downward, with the Shanghai Composite Index down 0.46%, the Shenzhen Component Index down 0.87%, and the ChiNext Index down 1.08%. The market showed an adjustment trend. In the morning, while the index rebounded, individual stocks declined. The rally of core blue-chip stocks suppressed the risk appetite of other stocks, increasing capital divergence. With no clear market leader and approaching the mid-to-late performance reporting period, the market is concerned about whether individual stocks can support the index's gains. Among the primary sectors, only the non-bank financial sector rose, while military, communication, steel, and textile and apparel sectors led the decline. There were 734 rising stocks and 4,644 falling stocks in the entire market [2][5]. 1.3 Important News - US Treasury Secretary Janet Yellen stated that the US will retain gold as a store of value and is unlikely to reevaluate its gold reserves. Bitcoin reserves are valued at approximately $15 - 20 billion, and the US will stop selling its Bitcoin holdings. Yellen also clarified that she did not call for a 150-basis-point rate cut by the Fed but noted that models suggest a lower neutral interest rate [6]. - Fed officials refuted the expectation of a significant rate cut in September. Mary Daly said that a large rate cut next month seems inappropriate, and Rafael Bostic stated that a 50-basis-point cut does not align with the current economic situation or data [6]. - US President Donald Trump said that if his meeting with Russian President Vladimir Putin goes well, he will call Ukrainian President Volodymyr Zelensky; otherwise, he will not call anyone. The meeting with Putin lays the foundation for a second meeting, and if issues cannot be resolved, sanctions will be imposed. Market sources suggest that Western leaders are considering the possibility of hosting a tripartite summit among Russia, the US, and Ukraine in a European city [6]. - Russian President Vladimir Putin said that the US is seeking an agreement acceptable to all parties, and it is possible to reach a new arms control agreement with the US. The Kremlin stated that there are no plans to sign a document on the results of the Russia-US summit [7]. - The central bank will conduct a 500 billion yuan outright reverse repurchase operation with a term of six months [8]. - The Regulations on the Administration of the Entry and Exit of Aliens have been amended to add a new K visa to the ordinary visa category, which will be issued to foreign young scientific and technological talents entering China [8]. - CK Hutchison Holdings stated that it does not expect to complete the port transaction this year and will invite mainland investors to participate in the much-anticipated port transaction [8]. - The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority issued a joint statement on the market volatility related to stablecoins. The HKMA reiterated that it will adopt a prudent approach when considering applications for stablecoin issuer licenses and set high thresholds [8]. 1.4 Today's Strategy - The significantly higher-than-expected US PPI in July dampened the market's expectation of substantial future interest rate cuts by the Federal Reserve, leading to a correction in risk assets that were previously priced too optimistically for rate cuts. The domestic A-share market experienced a single-day correction after reaching a new high without a clear market leader. The correction is normal, given the weak fundamentals and capital-driven nature of the A-share market, and there is no need for excessive concern. The report maintains a long-term bullish outlook, suggesting a short-term focus on individual stocks rather than the index, and emphasizes rotation opportunities within the technology growth sector. In terms of stock indices, it recommends going long on the Shanghai 50 and CSI 1000 [9]. 2. Futures Market Tracking - **Futures Market Performance**: The report provides detailed data on the closing prices, settlement prices, price changes, price change percentages, basis, premium/discount rates, annualized premium/discount rates, contract delivery dates, and remaining times for various futures contracts, including those for the Shanghai 50, CSI 300, CSI 500, and CSI 1000 indices [11]. - **Futures Trading Volume and Open Interest**: Data on trading volume, trading volume changes, trading value, trading value changes, open interest, open interest changes, weekly position increases, net positions, and changes in net positions, short positions, and long positions for each futures contract are presented. The total trading volume, trading value, open interest, and other aggregated data are also provided [12]. 3. Spot Market Tracking - **Spot Market Performance**: The report presents the current points, daily, weekly, monthly, and annual percentage changes, trading volumes, trading values, and other indicators for major stock indices such as the Wind All - A, Shanghai Composite Index, Shenzhen Component Index, ChiNext Index, Shanghai 50, CSI 300, CSI 500, and CSI 1000, as well as various industry sectors [35]. - **Influence of Market Styles on Index Fluctuations**: Analyzes the impact of different market styles (cyclical, consumer, growth, financial, and stable) on the fluctuations of the Shanghai 50, CSI 300, CSI 500, and CSI 1000 indices, including the number of stocks, weights, daily, weekly, monthly, and annual contributions of each style [36][37]. - **Valuation of Important Indices and Sectors**: Presents the current valuations and historical percentile rankings of important stock indices and Shenwan industry sectors [39][43]. - **Other Market Indicators**: Includes charts showing the Sunday average trading volume, Sunday average turnover rate, number of rising and falling stocks in the two markets, changes in index trading value, stock - bond relative returns, Hong Kong Stock Connect data, margin trading balance, and net margin trading purchases and their proportion in A - share trading value [45][47][48]. 4. Liquidity Tracking - **Central Bank's Open Market Operations**: The report provides a chart showing the central bank's open market operations, including currency injection, currency withdrawal, and net currency injection [52][53]. - **Shibor Interest Rate Levels**: A chart showing the levels of Shibor interest rates for different tenors is presented [52][54].