宝城期货股指期货早报-20250718

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The short - term view of the stock index is range - bound, with a mid - term view of upward movement. The main logic for the stock index rebound is the expectation of policy benefits in the second half of the year, strong liquidity support, and the easing of external risks. However, the upward momentum of the previous high - performing sectors has weakened, and without incremental policies in the short term, the stock index may enter a consolidation phase. Attention should be paid to the policy guidance of the important meeting in July [1][4]. 3. Summary by Related Content 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the IH2509 variety, the short - term view is oscillatory, the mid - term view is upward, the intraday view is oscillatory and bullish, and the overall view is range - bound. The core logic is that the positive policy expectations provide strong support [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The intraday view of IF, IH, IC, and IM is oscillatory and bullish, and the mid - term view is upward, with a reference view of range - bound. The trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 1560.2 billion yuan, an increase of 98.5 billion yuan from the previous day. The main logic for the stock index rebound is the expectation of policy support in the second half of the year due to the insufficient effective domestic demand in the first half. The central bank's net injection of liquidity and the easing of external risks also support the market. However, the upward momentum of the previous high - performing sectors has weakened, and without incremental policies in the short term, the stock index may enter a consolidation phase [4].