情绪面提振结构性行情

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View Today, influenced by information such as articles on continuously stabilizing and activating the capital market and the public - fund reform plan, the non - banking and banking sectors rose significantly, driving the broad - market index futures to rise notably. However, among all A - shares, the number of rising stocks was less than that of falling stocks, showing an obvious structural market. Since April, the effects of stabilizing the stock market and capital support have been remarkable. In the short term, even if the stock index retraces, the downside space is limited. But it's difficult to drive the central level of the stock index to rise continuously with only emotional support, and the short - term upside space is also expected to be limited. Taking the CSI 300 index as an example, around 3955 is the first resistance level, which was not broken today. Although the trading volume increased, it was relatively limited, and the volatile market may continue. It is recommended to mainly adopt a wait - and - see approach in the short term [6]. 3. Summary According to Related Catalogs Market Review Today, the stock index generally rose. Taking the CSI 300 index as an example, it closed up 1.21%. In terms of capital, the trading volume of the two markets increased by 2.0252 billion yuan. In the index - futures market, all varieties rose with increased volume [4]. Important Information 1. Seven departments including the Ministry of Science and Technology issued "Several Policy Measures for Accelerating the Construction of a Science - and - Technology Finance System to Strongly Support High - level Scientific and Technological Self - Reliance" [5]. 2. Starting from 12:01 on May 14th, China implemented adjusted measures for imposing additional tariffs on imported goods originating from the United States [5]. Strategy Recommendation It is recommended to mainly adopt a wait - and - see approach [7]. Index Futures Market Observation | | IF | IH | IC | IM | | --- | --- | --- | --- | --- | | Main contract intraday percentage change (%) | 1.45 | 1.85 | 0.77 | 0.77 | | Trading volume (10,000 lots) | 13.9424 | 7.6237 | 13.0413 | 29.149 | | Trading volume change compared to the previous period (10,000 lots) | 5.6184 | 3.915 | 3.7433 | 8.0442 | | Open interest (10,000 lots) | 27.3673 | 10.1251 | 22.2531 | 35.0101 | | Open interest change compared to the previous period (10,000 lots) | 2.5069 | 1.878 | 1.5835 | 2.8068 | [7] Spot Market Observation | | Name | Value | | --- | --- | --- | | | Shanghai Composite Index percentage change (%) | 0.86 | | | Shenzhen Component Index percentage change (%) | 0.64 | | | Ratio of rising to falling stocks | 0.82 | | | Trading volume of the two markets (100 million yuan) | 13167.27 | | | Trading volume change compared to the previous period (100 million yuan) | 252.02 | [8]