Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-05-27 09:46Report Summary 1. Report Industry Investment Rating - No industry investment rating is provided in the report. 2. Core View - The domestic economic fundamentals have weakened slightly, suppressing market enthusiasm for long - positions. After the previous market recovery following the easing of the tariff war, the index faces significant upward pressure after reaching the level of early April. Currently in a policy vacuum period, the market will experience rapid style rotation in the short term, lack an obvious main line, and is expected to maintain a volatile trend. It is recommended to wait and see for now [2]. 3. Summary by Relevant Catalogs Futures Disk - IF main contract (2506) at 3879.6, down 2.0; IH main contract (2506) at 2715.4, up 2.6. IF sub - main contract (2509) at 3807.6, down 0.8; IH sub - main contract (2509) at 2677.2, up 1.8. IC main contract (2506) at 5614.8, down 39.6; IC sub - main contract (2509) at 5426.2, down 30.0. IM main contract (2506) at 5950.0, down 48.6; IM sub - main contract (2509) at 5708.2, down 46.8 [2]. - Various spreads such as IF - IH, IC - IF, etc. have different changes, with most showing a downward trend [2]. - Differences between quarterly and current contracts of IF, IH, IC, and IM have different upward or downward trends [2]. Futures Position - IF top 20 net position is - 30,029.00, up 48.0; IH top 20 net position is - 10,765.00, down 37.0. IC top 20 net position is - 11,129.00, down 403.0; IM top 20 net position is - 31,392.00, down 988.0 [2]. Spot Price - CSI 300 at 3913.87, down 2.5; IF main contract basis at - 34.3, up 0.9. SSE 50 at 2733.63, up 5.2; IH main contract basis at - 18.2, down 2.4. CSI 500 at 5703.28, down 54.6; IC main contract basis at - 88.5, up 13.8. CSI 1000 at 6066.10, down 66.1; IM main contract basis at - 116.1, up 15.5 [2]. Market Sentiment - A - share trading volume (daily, billion yuan) at 10,241.23, down 97.50. Margin trading balance (previous trading day, billion yuan) at 18,058.58, up 45.23. North - bound trading volume (previous trading day, billion yuan) at 1224.22, down 138.00. Repurchase (maturity volume, operation volume, billion yuan) at - 3570.0, up 4480.0. Main funds (yesterday, today, billion yuan) at - 120.26 and - 246.33 respectively [2]. - The proportion of rising stocks (daily, %) at 48.72, down 21.40. Shibor (daily, %) at 1.452, down 0.054. IO at - the - money call option closing price (2506) at 37.00, down 10.60; IO at - the - money call option implied volatility (%) at 13.40, up 0.10. IO at - the - money put option closing price (2506) at 76.60, up 12.60; IO at - the - money put option implied volatility (%) at 13.67, up 0.37. CSI 300 index 20 - day volatility (%) at 9.72, up 0.24. Volume PCR (%) at 70.50, down 9.56; Position PCR (%) at 68.31, down 1.62 [2]. Wind Market Strength - Weakness Analysis - All A - shares at 4.70, down 1.80; Technical aspect at 4.90, down 2.10; Capital aspect at 4.50, down 1.40 [2]. Industry News - From January to April, the cumulative year - on - year growth rate of domestic industrial enterprise profits above designated size accelerated further compared with the previous month, but the operating profit margin declined due to rising operating costs. Although industrial enterprise profits increased, the decline in profit margin had a certain negative impact on market sentiment. In April, industrial added value, fixed - asset investment, and social retail sales of enterprises above designated size all declined compared with the previous values. The domestic economy faces certain pressure under tariff shocks [2]. Key Events to Watch - May 28, 10:00: New Zealand central bank interest rate decision. - May 29, 2:00: Minutes of the Federal Reserve's May monetary policy meeting. - May 30, 20:30: US April PCE and core PCE. - May 31, 9:30: China's May official manufacturing, non - manufacturing, and comprehensive PMI [3].