宝城期货股指期货早报-20250703

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The short - term view for IH2509 is oscillatory, the medium - term view is upward, and the intraday view is oscillatory and bullish. The overall view is oscillatory and bullish, supported by positive policy expectations [1]. - For IF, IH, IC, and IM, the intraday view is oscillatory and bullish, and the medium - term view is upward. The overall reference view is oscillatory and bullish. Although the main support comes from positive policy expectations, short - term upward momentum is weakening, and the market is expected to oscillate within a range [5]. 3. Summary by Related Catalogs 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector | Variety | Short - term | Medium - term | Intraday | Viewpoint Reference | Core Logic | | --- | --- | --- | --- | --- | --- | | IH2509 | Oscillatory | Upward | Oscillatory and bullish | Oscillatory and bullish | Policy - end positive expectations provide strong support [1] | 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - Yesterday, all stock indices continued to oscillate within a narrow range. The total stock market turnover was 1405.1 billion yuan, a decrease of 91.4 billion yuan from the previous day [5]. - The main support for stock indices comes from positive policy expectations. Due to unstable domestic demand and weak credit and inflation data, the market expects more policies to support economic demand and is concerned about the policy guidance of the Politburo meeting in July [5]. - Since late June, the stock indices have risen significantly, so the short - term upward momentum has weakened. The recent decline in trading volume indicates a cooling of the market's chasing sentiment [5].