股指日报：股指再度上涨，持续性有待观察-20250630

Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core View - The stock index rose overall today. The release of the latest PMI data and the strong RMB exchange - rate boosted market sentiment and attracted foreign capital inflows. However, the trading volume of the two markets continued to shrink, and the arithmetic average basis of stock - index futures (except IH) deepened the discount. So, the sustainability of this round of rise is to be observed, and it is not recommended to chase the high. The recommended strategy is to hold long positions and wait and see [6] 3. Summary According to Related Catalogs Market Review - Today, the stock index closed higher collectively. Taking the CSI 300 index as an example, it closed up 0.37%. The trading volume of the two markets decreased by 54.244 billion yuan, and stock - index futures rose with shrinking volume [4] Important Information - China's official manufacturing PMI in June was 49.7, up from 49.5, and the comprehensive PMI output index was 50.7, up from 50.4, indicating an accelerated overall expansion of business production and operation activities. The official non - manufacturing PMI was 50.5, up 0.2 percentage points from the previous month, showing continued expansion. The central bank's Monetary Policy Committee suggested increasing the intensity of monetary policy regulation and the revitalization of existing commercial housing and land to consolidate the stability of the real estate market [5] Futures Market Observation | | IF | IH | IC | IM | | --- | --- | --- | --- | --- | | Main contract intraday change (%) | 0.20 | 0.27 | 0.57 | 0.49 | | Trading volume (10,000 lots) | 7.8992 | 4.0678 | 7.1303 | 17.2012 | | Trading volume change compared with the previous day (10,000 lots) | - 2.8361 | - 1.8499 | - 1.1319 | - 2.2096 | | Open interest (10,000 lots) | 24.4607 | 8.5841 | 22.1361 | 31.7645 | | Open interest change compared with the previous day (10,000 lots) | - 0.9541 | - 0.8594 | - 0.7778 | - 1.9165 | [6] Spot Market Observation | Name | Value | | --- | --- | | Shanghai Composite Index change (%) | 0.59 | | Shenzhen Component Index change (%) | 0.83 | | Ratio of rising to falling stocks | 3.60 | | Trading volume of the two markets (100 million yuan) | 14868.57 | | Trading volume change compared with the previous day (100 million yuan) | - 542.44 | [7]