Nanhua Futures(SH:603093) Nan Hua Qi Huo·2025-06-12 12:20Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View - The stock index showed a slight oscillation today, with a minor increase in the trading volume of the two markets. Currently, there are significant overseas uncertainties, and the economic fundamentals are still in a weak recovery state. The impact of tariffs may persist, and the economic outlook is weak, which restricts the upward movement of the stock index. In the short term, there is significant resistance to the continuous upward movement of the index. However, the expectation of policy support has risen, and there is still sufficient support at the market bottom. Attention should be paid to the Lujiazui Forum from June 18th to 19th, where several financial policies will be announced. It is expected that the stock index will mainly oscillate within a range in the short term, and it is recommended to wait and see for now [6]. 3. Summary by Related Catalogs Market Review - The stock index showed mixed performance today, with small and medium - cap stock indexes closing higher and large - cap stock indexes closing lower. In terms of capital, the trading volume of the two markets increased by 1.631 billion yuan. In the futures index market, IM increased in volume, while the other varieties increased in price with reduced volume [4]. Important Information - The Chinese Ministry of Commerce's international trade negotiation representative stated that China and the United States have basically reached an agreement framework. - The deadline for Trump's tariffs is approaching, and the EU is said to have refused to compromise and plans to postpone trade negotiations until after July. - There has been no tariff increase yet. The US CPI increased by 2.4% year - on - year in May, and the core CPI increased by 0.1% month - on - month, falling below expectations for the fourth consecutive month [5]. Strategy Recommendation - Hold and wait and see [7]. Futures Index Market Observation | | IF | IH | IC | IM | | --- | --- | --- | --- | --- | | Main contract intraday change (%) | 0.06 | 0.02 | 0.21 | 0.08 | | Trading volume (10,000 lots) | 8.3934 | 4.5745 | 6.7708 | 15.899 | | Trading volume change compared to the previous day (10,000 lots) | - 2.8191 | - 0.8228 | - 1.2832 | - 2.5693 | | Open interest (10,000 lots) | 23.5571 | 8.2865 | 21.6406 | 32.6593 | | Open interest change compared to the previous day (10,000 lots) | - 1.5578 | - 0.1138 | - 0.2651 | 0.2007 | [7] Spot Market Observation | | Name | Value | | --- | --- | --- | | | Shanghai Composite Index change (%) | 0.01 | | | Shenzhen Component Index change (%) | - 0.11 | | | Ratio of rising to falling stocks | 0.81 | | | Trading volume of the two markets (100 million yuan) | 12717.69 | | | Trading volume change compared to the previous day (100 million yuan) | 163.10 | [8]