期指：并无实质性扰动，或偏强震荡

Report Summary 1. Investment Rating - No investment rating for the industry is provided in the report. 2. Core View - On June 10, all four major stock index futures contracts for the current month declined. IF dropped 0.69%, IH fell 0.53%, IC decreased 0.88%, and IM declined 0.89%. The total trading volume of stock index futures rebounded on this trading day, indicating increased trading enthusiasm among investors. The trends of IF and IH, as well as IC and IM, have a strength of 1 [1][2][6]. 3. Summary by Directory 3.1. Futures Data Tracking - Closing Price and Fluctuation: The closing prices of various stock index futures contracts decreased. For example, IF2506 closed at 3841, down 0.69%; IH2506 closed at 2660, down 0.53%; IC2506 closed at 5718.2, down 0.88%; IM2506 closed at 6113.8, down 0.89% [1]. - Trading Volume and Position: The total trading volume of all stock index futures increased. IF increased by 10,782 lots, IH by 12,478 lots, IC by 9,742 lots, and IM by 40,526 lots. In terms of positions, IF's total position decreased by 3,841 lots, IH increased by 45 lots, IC decreased by 1,543 lots, and IM increased by 13,583 lots [2]. - Basis: The basis of various stock index futures contracts is negative, indicating that futures prices are lower than spot prices [1]. 3.2. Top 20 Member Position Changes - IF Contracts: For IF2506, long - positions decreased by 5,339, and short - positions decreased by 7,254. For other contracts, there are different changes in long and short positions [5]. - IH Contracts: For IH2506, long - positions decreased by 250, and short - positions decreased by 1,297. Some data for other contracts are not disclosed [5]. - IC Contracts: For IC2506, long - positions decreased by 2,605, and short - positions decreased by 4,831. Other contracts also have corresponding position changes [5]. - IM Contracts: For IM2506, long - positions increased by 4,665, and short - positions increased by 2,731. Other contracts show different trends [5]. 3.3. Important Driving Factors - External Market: During the second day of Sino - US negotiations, the S&P had three consecutive positive days, the chip stock index outperformed the market, Tesla rose nearly 6%, UK bonds jumped during the session, and Bitcoin rose for five consecutive days. Google A once rose more than 2%, and OpenAI signed a new cloud - computing agreement with Google. TSMC rose 2.64%, with May revenues increasing 39.6% year - on - year. It is reported that the US and Mexico are close to reaching an agreement to partially exempt Mexican steel tariffs. The two - year US Treasury yield closed above 4%. Gold futures rose above $3,370 and then declined. Ethereum once rose more than 8%. Crude oil fell more than 2% from its intraday high [7]. - A - share Market: The three major A - share indexes declined rapidly in the afternoon. The Shanghai Composite Index once fell 1%, and finally closed down 0.44% at 3,384.82 points. The Shenzhen Component Index fell 0.86%, and the ChiNext Index fell 1.17%. Market turnover was 1.45 trillion yuan, compared with 1.31 trillion yuan the previous day [7].