期指：等待新驱动，震荡格局为主

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View The report indicates that on June 3, 2025, all four major stock index futures contracts for the current month rose. The overall trading volume of stock index futures declined, showing a decrease in investors' trading enthusiasm, while the overall open interest increased. The market is currently in a state of waiting for new drivers, with a mainly oscillating pattern [1][2]. 3. Summary by Relevant Catalogs 3.1. Index Futures Data Tracking - Price and Change: On June 3, all four major index futures' current - month contracts rose. IF increased by 0.11%, IH by 0.05%, IC by 0.33%, and IM by 0.68%. The underlying indices, such as the CSI 300, SSE 50, CSI 500, and CSI 1000, also went up [1]. - Trading Volume and Open Interest: The total trading volume of index futures decreased. IF decreased by 13,852 lots, IH by 9,296 lots, IC by 9,090 lots, and IM by 23,121 lots. The total open interest increased. IF increased by 5,468 lots, IH by 1,863 lots, IC by 6,257 lots, and IM by 3,188 lots [2]. 3.2. Top 20 Member Position Changes - The position changes of the top 20 members in different index futures contracts vary. For example, in IF contracts, the long - order and short - order position changes are different in each contract month; some data for certain contracts are not disclosed [5]. 3.3. Trend Intensity and Important Drivers - Trend Intensity: The trend intensity of IF and IH is 1, and that of IC and IM is also 1, indicating a neutral trend [6]. - Important Drivers: During the 2025 Dragon Boat Festival, domestic tourist trips reached 119 million, a year - on - year increase of 5.7%, and domestic tourism spending was 42.73 billion yuan, a year - on - year increase of 5.9%. The Ministry of Foreign Affairs responded to issues such as US chip export controls and EU restrictions on Chinese enterprises' participation in medical device tenders. The A - share market showed a pattern of opening lower and closing higher, with the financial sector leading the rise [6].