建信期货股指日评-20250609

Report Information - Report Type: Index Daily Review [1] - Date: June 9, 2025 [2] - Researchers: Nie Jiayi (Index Futures), He Zhuoqiao (Macro Precious Metals), Huang Wenxin (Macro Treasury Bond and Container Shipping) [3] Market Condition Review - On June 6, the Wind All A index declined on lower volume, ending its three - day post - holiday rally. In the spot market, the CSI 300, SSE 50, CSI 500, and CSI 1000 closed down 0.09%, 0.12%, 0.14%, and 0.23% respectively, with large - cap blue - chip stocks performing better. In the futures market, futures generally outperformed spot. The IF and IC main contracts rose 0.09% and 0.03% respectively, while the IH and IM main contracts fell 0.01% and 0.02% respectively [6]. - By sector, non - ferrous metals, communication, and petroleum and petrochemical led the gains, rising 1.16%, 1.00%, and 0.88% respectively. Beauty care, textile and apparel, and food and beverage sectors led the losses, with declines of - 1.70%, - 1.18%, and - 0.92% respectively [6]. Market Outlook - Externally, on the evening of June 5, the leaders of China and the US had a phone call. From the Chinese statement and Trump's interview, the US is willing to implement the Geneva Agreement with China. China stated that it has seriously implemented the agreement, showing both sincerity and principles. The US also welcomes Chinese students to study in the US, and the two sides will hold a new round of talks soon [8]. - Domestically, the central bank will conduct 100 billion yuan of outright reverse repurchase operations for a term of 3 months, leading to a marginal loosening of overall macro - liquidity. Fundamentally, although the economic data in April slowed down due to tariff impacts, the overall economy still showed resilience. In particular, export data was better than expected, and under the background of "export rush", it may support the economic performance in the second quarter to some extent [8]. - Overall, as Sino - US trade relations ease again, market trading logic returns to the domestic economic fundamentals. Technically, the Shanghai Composite Index is approaching the upper resistance level, and whether trading volume can break through should be monitored. It is recommended to maintain long positions at a medium - low level. Specifically, small - and medium - cap indices have rebounded significantly this week. The CSI 1000 index has broken through the 60 - day moving average, showing an upward trend. The technology sector shows signs of a turn. Considering the remaining uncertainties in trade risks, the relative performance of IF and IM contracts is favored in the later stage [9]. Industry News - On June 5, according to Cailian Press, the central bank announced that on June 6, 2025, the People's Bank of China will conduct 100 billion yuan of outright reverse repurchase operations for a term of 3 months (91 days) through fixed - quantity, interest - rate tender, and multiple - price winning bid methods [26]