华泰期货：股指调整，或迎配置良机

Market Overview - The Federal Reserve remains unchanged in its monetary policy [2] - The U.S. ISM Manufacturing PMI for January rose to 52.6, significantly above the expected 48.5, marking the highest level since August 2022, driven by robust growth in new orders and production [2][8] - A-shares experienced a decline, with the Shanghai Composite Index falling by 2.48% to 4015.75 points and the ChiNext Index dropping by 2.46% [2][8] - The trading volume in the Shanghai and Shenzhen markets was approximately 2.6 trillion yuan [8] Sector Performance - Most sector indices declined, with only the food and beverage and banking sectors closing in the green; the non-ferrous metals, steel, basic chemicals, and coal sectors saw the largest declines [2][8] - U.S. major stock indices closed higher, with the Dow Jones Industrial Average increasing by 1.05% to 49,407.66 points [8] Futures Market - The basis for stock index futures has significantly decreased [2][8] - There was an increase in trading volume for stock index futures, with only the IM position seeing a simultaneous increase [2][8] Investment Strategy - The domestic market is gradually digesting the impact of fluctuations in overseas liquidity expectations, with the China Securities 500 and 1000 indices showing more pronounced volatility [3][9] - After recent adjustments, overall risk has been largely released, suggesting that investors may gradually build positions in IC and IH long positions [3][9]