Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The trade agreement between the US and Vietnam provides a sample for subsequent trade negotiations between other countries, leaving uncertainties for future China-US negotiations. China may face difficulties in countering the increased costs of re-export trade tariffs. Attention should be paid to trade agreement news before July 9. The non-farm payroll data released today is also a key focus [6][9][12]. - Due to the influence of news, the "anti-involution" seems to bring a new round of supply-side reform in cyclical industries, with traditional sectors rising. However, the sustainability of the rise in oversold sectors is questionable, and it is more likely to be a structural market. The index will fluctuate between 3400 - 3500 points. Given the intertwining of overseas tariffs, Fed rate cuts, and domestic policies, the subsequent market is likely to continue with a structural trend. A dumbbell strategy should be adopted, and attention should be paid to the linkage between Hong Kong stocks and A-shares [2][4][12]. Summary by Relevant Catalogs 1. Market Views 1.1 Overseas Overnight - The US ADP employment change in June was -33,000, significantly lower than the expected 95,000 and the previous value of 29,000. This was the first employment contraction since March 2023, indicating weakness in the US labor market. As the employment data weakened, the market increased its bets on a Fed rate cut in July, with the probability rising from 20% to 27.4% [6]. - Trump announced a trade agreement with Vietnam. Vietnam will implement a 0% tariff on US imports, while Vietnamese goods exported to the US will face a 20% tariff, and goods deemed to be "transshipped through Vietnam" will be subject to a 40% tariff, targeting China. The previous agreement framework with China may face uncertainties. In the overnight market, although the US employment data was weak, the trade news had a greater impact. The US dollar index rose, US Treasury yields declined at both short and long ends, gold prices increased, the Dow Jones Industrial Average slightly fell, the Nasdaq and S&P 500 rose, the Nasdaq Golden Dragon China Index slightly increased, and the offshore RMB exchange rate remained basically flat. Attention should be paid to the US non-farm payroll data today, as the weak ADP data does not necessarily mean the non-farm payroll data will be weak [6]. 1.2 Domestic Market Review - On Wednesday, the broader market opened lower, fluctuated, and slightly declined by 0.09%. The Shenzhen Component Index fell by 0.61%, and the ChiNext Index dropped by 1.13%. The market showed a differentiated adjustment trend. Although the broader market was supported by banks and did not decline, individual stocks tumbled. Similar to the previous rise of Guotai Junan International in Hong Kong stocks, Chongqing Iron & Steel Co., Ltd. in Hong Kong stocks soared by 91.11%, mainly affected by a 30% limit on sintering machines in Tangshan, which also drove up the A-share steel sector and other cyclical sectors. Cyclical industries seem to be starting a new round of supply-side reform, consistent with the "anti-involution" tone. However, the sustainability of the rise in oversold sectors may be problematic. Among sectors, steel, coal, building materials, agriculture, forestry, animal husbandry, and banking rose, while electronics, communications, military, computer, and beauty care sectors led the decline. There were 1,943 rising stocks and 3,282 falling stocks in the entire market [2][7]. - The People's Bank of China issued the "Administrative Measures for Anti-Money Laundering and Anti-Terrorist Financing of Precious Metals and Gemstone Industry Institutions," requiring industry institutions to submit large transaction reports within 5 working days for transactions with a single or daily cumulative amount of over RMB 100,000 [7]. 1.3 Important News - Trump announced a trade agreement with Vietnam, where the Vietnamese market will fully open to the US. Vietnam will pay a 20% tariff on any goods entering US territory, and a 40% tariff will be imposed on transshipped goods. Vietnamese state media reported that the US will significantly reduce tariffs on various Vietnamese products [9]. - Richmond Fed President Barkin stated that there is currently no urgency to change policies [10]. - Vice Premier Zhang Guoqing conducted research in Hubei, emphasizing technology empowerment, accelerating industrial innovation, and continuously promoting high-quality development of the manufacturing industry [10]. - The National Development and Reform Commission allocated over RMB 300 billion to support the third batch of "two major" construction projects in 2025. So far, the RMB 800 billion list of "two major" construction projects for this year has been fully issued [10]. - European Commission President von der Leyen met with Wang Yi. Wang Yi said that the upcoming China-EU leaders' meeting is an important meeting at a critical juncture [10]. - The China Securities Regulatory Commission stated that it will prevent and control risks in areas such as bond defaults and private funds in an orderly manner, and continuously optimize capital market mechanisms such as stock and bond financing and mergers and acquisitions to promote the efficient concentration of factors in the most promising areas [10]. - In the first half of this year, 12.6 million new A-share accounts were opened, a year-on-year increase of 32.77% [11]. - The China Passenger Car Association estimated that the wholesale sales of new energy passenger vehicles by manufacturers nationwide in June were 1.26 million, a year-on-year increase of 29% [11]. 1.4 Today's Strategy - The trade agreement between the US and Vietnam provides a sample for subsequent trade negotiations between other countries, leaving uncertainties for future China-US negotiations. China may face difficulties in countering the increased costs of re-export trade tariffs. Attention should be paid to trade agreement news before July 9. The non-farm payroll data released today is also a key focus. In the A-share market, due to the influence of news, the "anti-involution" seems to bring a new round of supply-side reform in cyclical industries, with traditional sectors rising. However, the sustainability of the rise in oversold sectors is questionable, and it is more likely to be a structural market. The index will fluctuate between 3400 - 3500 points. Given the intertwining of overseas tariffs, Fed rate cuts, and domestic policies, the subsequent market is likely to continue with a structural trend. A dumbbell strategy should be adopted, and attention should be paid to the linkage between Hong Kong stocks and A-shares [12]. 2. Futures Market Tracking - The report provides detailed data on the performance, trading volume, and open interest of various stock index futures contracts, including the Shanghai 50 Index, CSI 300 Index, CSI 500 Index, and CSI 1000 Index, as well as their corresponding futures contracts such as IH2507, IF2507, IC2507, and IM2507 [14][15]. 3. Spot Market Tracking - The report presents data on the performance of the spot market, including the trading volume, current points, daily, weekly, and monthly returns of major indices such as the Wind All A Index, Shanghai Composite Index, Shenzhen Component Index, ChiNext Index, Shanghai 50 Index, CSI 300 Index, CSI 500 Index, and CSI 1000 Index, as well as the performance of various sectors [39]. - It also analyzes the impact of market styles (cyclical, consumer, growth, financial, and stable) on the performance of major indices [40][41]. - Additionally, the report shows the valuation levels of important indices and Shenwan sectors, as well as data on market trading volume, turnover rate, the number of rising and falling stocks, index trading volume changes, stock-bond relative returns, Hong Kong Stock Connect, margin trading balance, and net margin trading purchases [43][47][49]. 4. Liquidity Tracking - The report provides data on central bank open market operations and Shibor interest rate levels to track market liquidity [54][55][56].

Report Investment Rating - The report does not provide an investment rating for the industry. Core Viewpoints - The easing of the Israel - Iran conflict alleviated market concerns, boosting the risk appetite of A - shares on Tuesday. The decline of A - share sectors related to the Israel - Iran conflict indicates that the impact of external events on A - shares has ended, and A - shares will return to their own rhythm and logic. The market should maintain a neutral attitude, with a balanced allocation of blue - chips and technology, and a balanced allocation of Shanghai Stock Exchange 50 and CSI 1000 in stock index futures [4][13]. Summary by Directory 1. Market Views 1.1 Overseas Overnight - US economic data shows a slowdown, with the June Conference Board Consumer Confidence Index at 93, lower than the expected 100 and the previous value of 98.4; the April FIFA House Price Index monthly rate at - 0.4%, lower than the previous value of 0; and the April SPCS20 City Unadjusted House Price Index annual rate at 3.4%, lower than the expected 4% and the previous value of 4.07%. Fed Chairman Powell's attitude is neutral. Overnight, US stocks and bonds rose, the US dollar index, gold, and crude oil fell, the Nasdaq Golden Dragon China Index rose 3.31%, and the offshore RMB exchange rate appreciated [2][6]. 1.2 Domestic Market Review - On Tuesday, the market showed a large - volume upward trend, with the broader market rising 1.15%, the Shenzhen Component Index rising 1.68%, and the ChiNext Index rising 2.3%. The direct cause of the market rise was the easing of the Middle East situation, and the indirect cause was the release of pent - up emotions of internal funds after a long - term consolidation. The sectors related to the Israel - Iran conflict, such as oil and gas and shipping, fell, while solid - state batteries, robots, automobiles, and securities led the gains. The Ministry of Commerce will organize a new - energy vehicle consumption season in thousands of counties and towns in 2025 [3][7]. 1.3 Important Information - **Middle East Situation**: Trump's views on the Israel - Iran cease - fire agreement, the erasure of oil - price increases since the June 13 Israeli attack on Iran, US intelligence reports on the strike on Iran, the halt of further Israeli military strikes on Iran after the US - Israeli leaders' call, and Iran's readiness for dialogue [8]. - **Federal Reserve**: Different Fed officials have different views on interest - rate adjustments, with some believing that a wait - and - see approach is appropriate, and some expecting a rate cut later this year [9]. - **US Senate**: The Republican leader in the US Senate plans to vote on Trump's "Beautiful Big Bill" on Friday [9]. - **Central Bank**: On June 25, the central bank conducted 300 billion yuan of MLF operations with a term of 1 year, and six departments including the central bank jointly issued a guidance on financial support for boosting and expanding consumption. The central bank will also formulate a new - stage financial technology development plan [10][11]. - **Ministry of Commerce**: It will organize the 2025 New - Energy Vehicle Consumption Season in Thousands of Counties and Towns [12]. 1.4 Today's Strategy - The market should maintain a neutral attitude, with a balanced allocation of blue - chips and technology, and a balanced allocation of Shanghai Stock Exchange 50 and CSI 1000 in stock index futures. In the short term, focus on the activity of AI and large - finance sectors, and operating according to the 20 - day moving average has a relatively high winning rate [13]. 2. Futures Market Tracking - The report presents multiple charts related to the basis and inter - period spreads of CSI 300, Shanghai Stock Exchange 50, and CSI 500 contracts, including the basis of each contract and the inter - period spreads between different contract months [15][20][22]. 3. Spot Market Tracking - The report shows charts of important index valuations, Shenwan valuations, market average daily trading volume and turnover rate, the number of rising and falling stocks in the two markets, index trading volume changes, stock - bond relative returns, Hong Kong Stock Connect, margin trading balances, and margin trading net purchases and their proportion in A - share trading volume [35][37][39]. 4. Liquidity Tracking - The report includes charts of central bank open - market operations and Shibor interest - rate levels [44].

中东地缘政治动荡，A 股等待后寻找机会 2025 年 6 月 20 日 股指期货早报 2025.6.20 报告摘要： 海外方面，隔夜美未有重大数据发布。在中东方面，特朗普政府 表示将在两周内作出决定是否直接打击伊朗。而市场也因各方态度不 明，处于被"勒住"的状况，从原油价格近期长上影线长下影线可看 出市场的纠结。隔夜市场走势来看，美元指数收跌，美债收益率短端 和长端下跌，黄金微涨，原油低开高走最终收跌，美股休市，离岸人 民币汇率升值。地缘政治消息的变化使得资产处于较大波动状况。 国内盘面上看，周四大盘低开低走下跌 0.79%，深成指下跌 1.21%，创业板指下跌 1.36%，市场呈现下跌走势。在金融会议未释放 经济方面利好政策且中东地缘政治动荡下，A 股回落。板块上看，一 级板块仅石油石化上涨，纺织服饰、美容护理、轻工制造、有色跌幅 居前。全市场 716 只个股上涨，4643 只个股下跌。消息上看，商务 部表示将依法依规不断加快对稀土相关出口许可申请的审查。 整体来看，隔夜外围美股休市，原油价格走势指向中东地缘政治 影响持续。A 股昨日放量下跌，走势与 5 月 23 日类似，短期看双头 的走势似要形成。后续走 ...

股指早报 政策侧重顶层设计，A 股仍需震荡整固 2025 年 6 月 19 日 股指期货早报 2025.6.19 报告摘要： 海外方面，今日凌晨，美联储公布 6 月议息决议维持利率不变， 对今年预期依旧降息两次，但从点阵图来看，预期今年降息 2 次的人 数变得少，相比 3 月美联储官员整体边际转鹰。对经济展望来看，美 联储对今年 GDP 预估下调至 1.4%，将通胀预期上调至 3%。这也意味 美联储对美经济陷入滞涨的担忧上升。之后美联储主席鲍威尔在发言 中罕见提及关税的负面影响。综合来看，此次美联储释放的信号只想 后续美联储不会贸然行动，更多会是数据追踪来决策后续货币政策。 另外中东地区地缘政治继续动荡。从隔夜市场走势来看，美元指数收 涨，美债收益率先跌后涨，10 年期美债收益率最终收微跌，黄金收 跌，原油收跌，美三大股指涨跌不一，道指标普收跌，纳指收涨，纳 斯达克中国金龙指数下跌，离岸人民币汇率震荡收涨。从资产走势来 看，目前市场焦点依旧是中东方面。 国内盘面上看，周三大盘低开震荡微涨 0.04%，深成指上涨 0.24%，创业板指上涨 0.23%，市场呈现指数探底回升但个股却下跌 的走势。市场对陆家嘴论坛的 ...

Report Industry Investment Rating - Not provided in the document Core Viewpoints - Overseas data shows the cooling of the US economy, but it's not enough to change the Fed's stance. The Middle - East geopolitical instability has raised market risk - aversion. Domestic A - shares are in a state of stock game, with expectations of index repair and attention to policies from the Lujiazui Financial Forum and foreign capital inflows [1][2][11] Summary by Directory 1.行情观点 1.1 Overseas Overnight - The US May retail sales monthly rate was - 0.9%, lower than expected and the previous value, the largest decline since March 2023, mainly due to the drop in car purchases. The May industrial output monthly rate was - 0.2%, also lower than expected and the previous value. The Fed is more concerned about labor - market data and is delaying interest - rate cuts due to internal contradictions. Overnight, the US dollar index rose, US bond yields increased, gold slightly rose, crude oil rose, US stock indexes fell, and the Nasdaq Golden Dragon China Index dropped, with the offshore RMB exchange rate depreciating. Middle - East geopolitical fluctuations increased market risk - aversion [1][4] 1.2 Domestic Market Review - On Tuesday, the Shanghai Composite Index fell 0.4%, the Shenzhen Component Index fell 0.12%, and the ChiNext Index fell 0.36%. The market showed a volatile correction. Although the index decline was limited, individual - stock declines widened. The market was mainly affected by news and in a state of stock game with sector rotation. Coal, public utilities, etc. rose, while pharmaceutical biology, beauty care, etc. fell. The Lujiazui Forum is being held, and policy news is to be focused on [2][5] 1.3 Important News - The US Senate passed a stablecoin bill. Trump mentioned upcoming drug tariffs. 95% of central banks expect gold reserves to rise in the next 12 months. The "Fed whisperer" said the Fed would have been ready to cut interest rates this week without tariff risks. There are ongoing developments in the Israel - Iran conflict, and China announced evacuating citizens from Iran and Israel. China's new - generation manned spacecraft had a successful test [6][7][9] 1.4 Today's Strategy - Pay attention to whether the US will directly attack Iran and the intensification of great - power games. Domestic A - shares are in a stock game. With the expectation of policies from the Lujiazui Financial Forum, the index is expected to repair. Focus on policy news' impact on index trading volume and foreign capital inflows when gold prices are high [11] 2. Futures Market Tracking - The document presents the performance, trading volume, and positions of futures contracts for the Shanghai 50, CSI 300, CSI 500, and CSI 1000 indexes, including data such as closing prices, settlement prices, trading volume changes, and position changes [13][14] 3. Spot Market Tracking - It shows the current points, daily, weekly, monthly, and annual changes, trading volume, and valuation of major stock indexes and sectors. Market - style contributions to the Shanghai 50, CSI 300, CSI 500, and CSI 1000 indexes are also presented, along with charts on market trading volume, turnover rate, and other indicators [36][37][38] 4. Liquidity Tracking - Charts on central - bank open - market operations and Shibor interest - rate levels are provided [53]

股指早报 隔夜外围走势倾向中东矛盾不会升级，A 股反复震荡 2025 年 6 月 17 日 股指期货早报 2025.6.17 报告摘要： 海外方面，美 6 月纽约联储制造业指数录得-16，大幅低于预期 -5.5 和前值-9.2，数据指向美制造业的降温。另外在关税方面，特朗 普宣布英美签署贸易协议；媒体称欧盟准备有条件接受美国 10%的统 一关税。关税目前反而不是重点了。中东地缘政治方面依旧焦灼，未 出现如封锁霍尔木兹海峡的极端情况。从隔夜资产走势来看，市场情 绪有所降温，美元指数保持平稳下收跌，美债收益率短端长端均回落， 黄金收跌，原油下跌，美三大股指均上涨，纳斯达克中国金龙指数上 涨，离岸人民币汇率震荡小幅升值。市场定价倾向中东地区矛盾不会 升级。 国内基本面上看，5 月规模以上工业增加值增长 5.8%，低于前值 6.1%；5 月社零同比增长 6.4%，高于预期 5%和前值 5.1%。假期和国 补对于消费支撑明显。盘面上看，周一大盘低开震荡上涨 0.35%，深 成指上涨 0.41%，创业板指上涨 0.66%，市场呈现震荡修复走势。早 盘指数开盘低开后就展开反弹，但攻击性不强，之后基本保持走横盘 的态势。银行 ...

关注双焦的边际变化 研究院黑色建材小组 01 行情回顾 核心交易焦煤仓单与季节性需求见顶 螺纹 热卷 铁矿 焦炭 焦煤 黑色商品05合约5月涨跌幅（收盘价） 02 总体来说，5月黑色的交易 与4月基本类似，核心就在 于焦煤宽松的确认以及仓 单的下移。于此同时，5月 动力煤现货价格的加速下 跌，以及铁水的季节性见 顶回落，所引发的对于动 力煤未来快速悲观和对钢 材需求环比走弱预期的增 强，引起了更多其他资金 的入场，进而加速了5月焦 煤的价格下跌并带动整体 黑色价格中枢的下移。 但进入6月以来，这一逻辑 开始出现变动。核心在于 宏观预期的边际改善，中 美领导人开启对话，于此 同时蒙古6月初政坛动荡也 突发出现、国内安全生产 月活动展开，从而市场开 始不断关注供给减量、环 保、水资源保护、成材需 求持稳等等。进而带来了 此前打过头的焦煤反弹收 基差。 2025-05-25 2025-05-26 2025-05-27 2025-05-28 2025-05-29 2025-05-30 2025-05-31 2025-06-01 2025-06-02 2025-06-03 2025-06-04 2025-06-05 2 ...

股指早报 中美贸易谈判，隔夜美方释放积极信号，中方中性 2025 年 6 月 11 日 股指期货早报 2025.6.11 报告摘要： 海外方面，美 5 月 NFIB 小型企业信心指数录得 98.8，高于预期 95.9 和前值 95.8，数据指向美企业信心有所回升。另外中美在伦敦 谈判在昨日下午北京时间 5 点开始，今天凌晨 4 点结束。美财政部长 贝森特表示中美进行了 2 天富有成效的谈话，向市场释放积极信号。 中国商务部副部长李成钢表示过去两天中美双方进入了很深入的交 流，中美沟通专业、深入、理性、坦诚 。从隔夜市场走势来看，美 元指数收涨，美债收益率短端长端均回落，黄金收跌，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。隔夜市 场走势反映出市场对中美谈判信号偏向积极。 国内盘面上看，周二大盘高开震荡下跌 0.44%，深成指下跌 0.86%，创业板指下跌 1.17%，市场呈现震荡回调走势。早盘指数呈现 红盘，主要在于银行的支撑，午后股指快速回落。从盘面走势反映似 乎是中美贸易谈判出了利空消息，稀土、种业大幅拉升，但因时差， 中美在交易时间并未谈判，谈判在下午收盘后 5 点才开始，急跌的 ...

股指早报 中美贸易会谈中，A 股收 3399 2025 年 6 月 10 日 股指期货早报 2025.6.10 报告摘要： 海外方面，美 4 月批发销售月率录得 0.1%，低于预期 0.3%和前 值 0.8%；美 5 月纽约联储一年通胀预期录得 3.2%，低于前值 3.63%， 数据指向美经济的边际回落。另外美国与中国贸易会谈昨日在伦敦举 行第一轮谈判在今日凌晨 3 点结束，第二轮将在今日 10 点开始。市 场密切关注会谈信息，从隔夜市场走势来看，美元指数震荡走低，美 债收益率短端和长端均上涨，黄金收涨，美三大股指涨跌不一，道指 收平，纳指和标普收涨，纳斯达克中国金龙指数上涨，离岸人民币汇 率升值。从走势来看，市场处于谨慎乐观。此次谈判关注重点在于是 否会降低关税，以及 90 天关税暂停期是否会延长等。 国内基本面上看，周一统计局公布 5 月通胀数据，5 月 CPI 同比 录得-0.1%，与前值一致，5 月 PPI 同比录得-3.3%，前值-2.7%。农 产品和猪肉价格对 CPI 期到拖累，PPI 则更多受能源价格的拖累。通 胀数据指向目前国内总需求依旧偏弱，经济修复依旧需要政策支持。 盘面上看，周一大盘高开 ...

Report Industry Investment Rating No relevant content provided. Core View of the Report - Due to US tariffs and the Fed's stance, the probability of a divergence between the US dollar and US Treasury yields is high, which will trigger asset fluctuations. The domestic A-share market is expected to rebound after the Dragon Boat Festival or after filling the gap. The market may experience short - term fluctuations, and the real market trend will be observed after the festival [2][8] Summary by Directory 1. Market Views 1.1 Overseas Overnight - The revised annualized quarterly rate of real GDP in the US in Q1 was - 0.2%, higher than the expected and previous value of - 0.3%. The monthly rate of the existing home sales contract index in April was - 6.3%, lower than the expected - 1% and the previous value of 5.5%, indicating an economic slowdown in Q1 and a cooling real - estate market. Fed's Goolsbee said that if tariffs are avoided, the Fed may return to a rate - cut scenario. The probability of a rate cut in September is 52.4%. US tariffs are volatile, causing overnight market fluctuations. The US dollar index fell, US Treasury yields rose, gold rose, US stocks rose, the Nasdaq Golden Dragon China Index rose, and the offshore RMB exchange rate first depreciated and then appreciated. A divergence between the US dollar index and US Treasury yields is expected, and capital market volatility will increase [1][4] 1.2 Domestic Market Review - On Thursday, the market rebounded with the Shanghai Composite Index up 0.7%, the Shenzhen Component Index up 1.24%, and the ChiNext Index up 1.37%. Stocks generally rose, and trading volume increased. Brokerage and technology sectors were active. Computer, medicine, electronics, and military industries led the gains, while beauty care, banking, food and beverage, and petrochemical sectors declined. There were 4468 rising stocks and 831 falling stocks [2][5] 1.3 Important Information - The US Court of Appeals allowed Trump's tariff policy to continue temporarily. Trump's officials were confident of victory in the lawsuit and believed alternative ways to impose tariffs could be found. Three agreements are expected in the next few weeks. The US Treasury Secretary said trade partners' attitudes remained unchanged in the past 48 hours. Trump met Powell and asked for a rate cut, but Powell insisted on monetary policy independence. There is no plan for Putin to talk with Trump. The CPC Central Committee General Office and the State Council General Office issued an opinion on improving the market - based allocation system for resource and environmental elements. China's Ministry of Commerce responded to US semiconductor export controls and urged the US to cancel tariffs. The US decided to revoke Chinese student visas, and China's Ministry of Foreign Affairs criticized it. The Hongdao operating system was launched. Yushu's name change sparked listing speculation, and the company said it was a routine change [6][7] 1.4 Today's Strategy - Thursday's A - share and overseas market movements reflected news. Given US tariffs and the Fed's attitude, a divergence between the US dollar and US Treasury yields is likely, causing asset fluctuations. The domestic A - share market is expected to rebound after the Dragon Boat Festival or after filling the gap. The Thursday's rebound was unexpected, and the market may fluctuate in the short - term. The real market trend will be observed after the festival [8] 2. Futures Market Tracking Futures Market 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 Shanghai 50, CSI 300, CSI 500, and CSI 1000 are provided [10] Futures Trading Volume and Open Interest - Data on trading volume, trading volume changes, trading value, trading value changes, open interest, open interest changes, and other indicators of various stock index futures contracts are provided, as well as the positions of the top 20 members [11] 3. Spot Market Tracking Spot Market Performance - Information on the current points, daily, weekly, monthly, and annual price changes, trading value, and other indicators of major domestic stock indexes such as the Wind All - A, Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index is provided. It also includes data on different sectors such as upstream, mid - stream, consumer, TMT, and financial sectors [33] Impact of Market Styles on Index Fluctuations - Analyzes the impact of market styles (cycle, consumption, growth, finance, stability) on the Shanghai 50, CSI 300, CSI 500, and CSI 1000 indexes in terms of the number of stocks, weights, and daily, weekly, monthly, and annual contributions [34][36] Index Valuation - Presents the current valuations and historical percentile rankings of important indexes and Shenwan sectors [37][40] Other Market Indicators - Includes data on the Sunday average trading volume, Sunday average turnover rate, number of rising and falling stocks, north - bound funds, Hong Kong Stock Connect, margin trading balance, and margin trading net purchase amount and its proportion in A - share trading volume [42][50] 4. Liquidity Tracking - Information on central bank open - market operations and Shibor interest rate levels is provided, presented in graphical form [52]