股指期货日报：放量上涨，中证500指数创年内新高-20250721

Report Industry Investment Rating No relevant content provided. Core View - Today, the stock indices closed higher collectively, with small and medium - cap indices performing strongly, and the CSI 500 index hitting a new high. The trading volume of the two markets continued to expand. Affected by the upcoming release of stable - growth work plans for multiple key industries announced at the MIIT press conference after Friday's market close and the news of the start of the Yarlung Zangbo River downstream hydropower project, related sectors such as cement building materials, steel, and water conservancy led the gains. There are no obvious negative news currently, and after excluding the impact of contract expiration and new contract listing, the overall change in the basis of stock index futures is not significant. Overall, today's stock indices rose in both price and volume, and it is expected that the short - term upward trend will continue. Long - position holders can continue to hold their positions [4]. Summary by Directory Market Review - Today, the stock indices showed a strong performance, with small and medium - cap indices performing even better. In terms of capital flow, the trading volume of the two markets increased by 12.8937 billion yuan. In the futures market, IF and IH rose with shrinking volume, while IC and IM rose with expanding volume [2]. Important Information - The MIIT stated that it will strengthen industry governance with a market - oriented mindset and legal concepts, and promote the orderly exit of backward production capacity. Work plans for stable growth in key industries such as automobiles, steel, non - ferrous metals, and petrochemicals are about to be released, as well as digital transformation plans for industries like automobiles, textiles, light industry, food, and medicine. A special action will be carried out to solve the problem of overdue payments to small and medium - sized enterprises, and efforts will be made to promote the innovative development of future industries such as humanoid robots, the metaverse, and brain - computer interfaces [3]. - The US will impose heavy taxes on Chinese graphite, which has caused complaints from US companies, impacted the electric vehicle industry, and raised concerns in many countries [3]. - The one - year and five - year LPR remained unchanged [3]. - Li Qiang attended the groundbreaking ceremony of the Yarlung Zangbo River downstream hydropower project in Nyingchi, Tibet. The project will build 5 cascade power stations with a total investment of about 1.2 trillion yuan, mainly for power transmission and consumption, while also meeting local self - use needs in Tibet [3]. Strategy Recommendation - Hold long positions and wait and see [5]. Futures Market Observation | | IF | IH | IC | IM | | --- | --- | --- | --- | --- | | Main contract intraday change (%) | 0.73 | 0.29 | 1.04 | 0.93 | | Trading volume (10,000 lots) | 8.934 | 4.5714 | 8.5044 | 18.3945 | | Trading volume change (10,000 lots) | - 2.494 | - 1.9875 | - 0.9461 | - 0.1381 | | Open interest (10,000 lots) | 25.1155 | 9.2827 | 22.0791 | 32.8314 | | Open interest change (10,000 lots) | - 0.2025 | - 0.0634 | 0.5196 | 1.5851 | [5][6] Spot Market Observation | Name | Value | | --- | --- | | Shanghai Composite Index change (%) | 0.72 | | Shenzhen Component Index change (%) | 0.86 | | Ratio of rising to falling stocks | 3.10 | | Trading volume of the two markets (billion yuan) | 169.998 | | Trading volume change (billion yuan) | 12.8937 | [6]