瑞达期货股指期货全景日报-20250521

Report Industry Investment Rating - No relevant content provided Core Viewpoints - A - share major indices closed up. The Shanghai Composite Index rose 0.21%, the Shenzhen Component Index rose 0.44%, and the ChiNext Index rose 0.83%. Over 1600 stocks in the whole market rose. Most industry sectors fell, with beauty care, electronics, and media sectors leading the decline, while coal and non - ferrous metals sectors leading the gain. [3] - Domestically, in terms of economic fundamentals, in April, domestic industrial added value, fixed - asset investment, and social retail sales declined compared to previous values. Real estate development investment and commercial housing sales also declined. The CPI - PPI gap widened, and future prices still face pressure. [3] - In terms of financial data, government bond issuance from January to April was the main support for the increase in social financing. In April, the stock of social financing and the growth rate of M2 exceeded expectations. The LPR cut in May further strengthened the loose orientation of monetary policy. [3] - In the trade aspect, China and the US reached a consensus on May 12 to significantly reduce bilateral tariffs, alleviating short - term trade friction risks. [3] - Currently, the domestic economic fundamentals are slightly weak, which has a negative impact on market sentiment. The index has reached the level of early April and faces upward pressure. With the introduction of macro - support policies, it is expected to remain volatile in the short term. It is recommended to wait and see. [3] Summary by Relevant Catalogs Futures Market Futures Prices - IF (2506) was at 3881.2 (+16.6), IH (2506) at 2712.6 (+12.4), IC (2506) at 5655.6 (+7.4), and IM (2506) at 6000.6 (-11.0). [2] - Price differences: IF - IH spread was 1168.6 (+2.6), IC - IF spread was 1774.4 (-11.0), etc. [2] - Seasonal - to - current - month spreads: IF was - 72.2 (-1.8), IH was - 36.4 (-0.6), etc. [2] Futures Positions - IF's top 20 net position was - 32245.00 (-194.0), IH's was - 11350.00 (+134.0), IC's was - 14797.00 (+105.0), and IM's was - 37592.00 (+31.0). [2] Spot Prices - CSI 300 was at 3916.38 (+18.2), SSE 50 at 2728.43 (+11.8), CSI 500 at 5757.92 (+10.6), and CSI 1000 at 6132.18 (-13.8). [2] Market Sentiment - A - share trading volume was 12143.73 billion yuan (+31.47), margin trading balance was 18128.40 billion yuan (+25.09), etc. [2] Economic Data - In April, the year - on - year actual growth rate of industrial added value of above - scale industries was 6.1%, and the month - on - month growth rate was 0.22%. From January to April, it increased by 6.4% year - on - year. [2] - From January to April, national fixed - asset investment (excluding rural households) was 147024 billion yuan, a year - on - year increase of 4.0%. Private fixed - asset investment increased by 0.2% year - on - year. In April, it increased by 0.10% month - on - month. [2] - In April, the total retail sales of consumer goods was 37174 billion yuan, a year - on - year increase of 5.1%. From January to April, it was 161845 billion yuan, an increase of 4.7%. [2] - From January to April, national real estate development investment was 27730 billion yuan, a year - on - year decrease of 10.3%. Newly - built commercial housing sales area decreased by 2.8% year - on - year, and sales volume decreased by 3.2%. [2] - From January to April, the average national urban surveyed unemployment rate was 5.2%, the same as the previous year. In April, it was 5.1%, a 0.1 - percentage - point decrease from the previous month. [2] Key Events to Watch - May 22: France, Germany, Eurozone, UK May SPGI manufacturing PMI preliminary values at 15:15 - 16:30; US May SPGI manufacturing PMI preliminary value at 21:45. [3] - May 23: Japan's April core CPI annual rate at 7:01; UK's April seasonally - adjusted retail sales monthly rate at 14:00; US April new home sales annualized total (in ten thousand units) at 22:00. [3] - May 26: European Central Bank President Lagarde's speech at 21:00. [3]