瑞达期货股指期货全景日报-20250415

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - After the impact of tariff disturbances fades, the equity market will refocus on domestic factors. Due to high expectations for subsequent domestic policy hedging, investors may hold their long positions, waiting for policy-driven benefits. Additionally, companies' increased dividends and share repurchases stabilize the market and attract investors. With the positive economic fundamentals, stock indices are expected to rise further. The strategy suggests lightly buying on dips [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market Data - Contract Prices: IF, IC, and IM main contracts (2506) decreased by 8.6, 30.6, and 21.6 respectively; IH main contract (2506) decreased by 1.2. IF, IC, and IM sub - main contracts (2504) decreased by 2.6, 11.4, and 3.4 respectively; IH sub - main contract (2504) increased by 3.4 [2]. - Contract Spreads: IF - IH, IC - IF, and IC - IH monthly contract spreads decreased by 4.0, 6.2, and 10.2 respectively; IM - IC, IM - IF, and IM - IH monthly contract spreads increased by 13.0, 6.8, and 2.8 respectively. IF, IH, IC, and IM spreads between current quarter and monthly contracts and next quarter and monthly contracts all decreased [2]. - Net Positions: IF, IH, IC, and IM top 20 net positions decreased by 2676.0, 771.0, 135.0, and 3303.0 respectively [2]. - Basis: IF and IH main contract basis decreased by 6.5 and 4.2 respectively; IC main contract basis increased by 2.8 [2]. 3.2 Spot Market Data - Index Prices: CSI 300 increased by 2.1, SSE 50 increased by 6.4, and CSI 500 decreased by 24.6 [2]. - Market Volume and Balance: A - share trading volume decreased by 24.5%, margin trading balance increased by 11.9% [2]. 3.3 Market Sentiment Data - Trading Volume and Flow: North - bound trading volume decreased by 242.26, and main funds decreased by 253.02 [2]. - Option Data: IO at - the - money call and put option closing prices decreased by 4.00, and their implied volatilities decreased by 0.07 [2]. - Volatility and PCR: CSI 300 20 - day volatility decreased by 0.37, trading volume PCR increased by 2.50, and position PCR increased by 1.83 [2]. 3.4 Market Strength and Weakness Analysis - Wind Market Analysis: All A - shares decreased by 3.20, technical analysis decreased by 3.90, and capital analysis decreased by 2.40 [2]. 3.5 Industry News - Financial Data: In Q1 2025, the cumulative increase in social financing scale was 15.18 trillion yuan, 2.37 trillion more than the same period last year. At the end of March, M2 increased by 7% year - on - year, M1 increased by 1.6%, and M0 increased by 11.5%. RMB loans increased by 9.78 trillion yuan in Q1 [2]. - Trade Data: In Q1 2025, China's total foreign trade value was 10.3 trillion yuan, a 1.3% year - on - year increase. Exports were 6.13 trillion yuan, a 6.9% increase, and imports were 4.17 trillion yuan, a 6% decrease [2]. - Company Performance: As of April 14, 2025, over 90% of 101 Shanghai - listed companies reported positive Q1 results, and over 40% of them expected their net profits to double year - on - year [2]. 3.6 Key Events to Watch - April 16, 9:30: China's Q1 GDP, March industrial added value, fixed - asset investment, retail sales, and real estate data. - April 16, 20:30: US March retail sales and core retail sales. - April 16, 21:45: Bank of Canada interest rate decision. - April 17, 21:15: European Central Bank interest rate decision. - April 18: US, Australia, European countries, and Hong Kong closed for Good Friday [3].