期指：上涨后的震荡

1. Report Industry Investment Rating - No information provided on the industry investment rating 2. Core View of the Report - On August 5th, all four major stock index futures contracts for the current month rose. IF increased by 0.86%, IH by 0.8%, IC by 0.72%, and IM by 0.9%. The total trading volume of stock index futures declined on the trading day, indicating a decrease in investors' trading enthusiasm. In terms of positions, IF's total position increased by 1005 lots, IH's by 660 lots, IC's decreased by 1806 lots, and IM's decreased by 7110 lots [1][2] 3. Summary by Relevant Catalogs 3.1 Periodic Index Data Tracking - CSI 300 and Its Futures Contracts: The CSI 300 index closed at 4103.45, up 0.80%. Among its futures contracts, IF2508 closed at 4095, up 0.86% with a basis of -8.45; IF2509 closed at 4082, up 0.84% with a basis of -21.45; IF2512 closed at 4051, up 0.85% with a basis of -52.45; IF2603 closed at 4020.6, up 0.84% with a basis of -82.85 [1] - SSE 50 and Its Futures Contracts: The SSE 50 index closed at 2790.73, up 0.77%. Among its futures contracts, IH2508 closed at 2789.4, up 0.80% with a basis of -1.33; IH2509 closed at 2791, up 0.83% with a basis of 0.27; IH2512 closed at 2792.8, up 0.82% with a basis of 2.07; IH2603 closed at 2794, up 0.87% with a basis of 3.27 [1] - CSI 500 and Its Futures Contracts: The CSI 500 index closed at 6303.24, up 0.66%. Among its futures contracts, IC2508 closed at 6265.4, up 0.72% with a basis of -37.84; IC2509 closed at 6198.6, up 0.66% with a basis of -104.64; IC2512 closed at 6040.2, up 0.65% with a basis of -263.04; IC2603 closed at 5909.8, up 0.62% with a basis of -393.44 [1] - CSI 1000 and Its Futures Contracts: The CSI 1000 index closed at 6787.48, up 0.71%. Among its futures contracts, IM2508 closed at 6754.4, up 0.90% with a basis of -33.08; IM2509 closed at 6682, up 0.90% with a basis of -105.48; IM2512 closed at 6490.8, up 0.90% with a basis of -296.68; IM2603 closed at 6311, up 0.78% with a basis of -476.48 [1] 3.2 Trading Volume and Position Changes - Trading Volume: IF's total trading volume increased by 3421 lots, IH's by 2218 lots, IC's decreased by 11728 lots, and IM's decreased by 33934 lots [2] - Positions: IF's total position increased by 1005 lots, IH's by 660 lots, IC's decreased by 1806 lots, and IM's decreased by 7110 lots [2] 3.3 Top 20 Member Position Changes in Futures - IF Contracts: For IF2508, long positions decreased by 155 with a net change of 692, and short positions decreased by 181 with a net change of 533; for IF2509, long positions increased by 601; for IF2512, long positions decreased by 126; for IF2603, long positions increased by 372 [5] - IH Contracts: For IH2508, long positions decreased by 216 with a net change of 1299; for IH2509, long positions increased by 1020 and short positions increased by 507 with a net change of 1105; for IH2512, long positions increased by 495 [5] - IC Contracts: For IC2508, long positions decreased by 1509 and short positions decreased by 1519; for IC2509 and IC2512, long positions decreased by 1274 and 537 respectively, and short positions decreased by 985 and 202 respectively; for IC2603, long positions increased by 700 [5] - IM Contracts: For IM2508, long positions decreased by 1730 and short positions decreased by 2259; for IM2509, long positions decreased by 4474 with a net change of -7498, and short positions decreased by 3785 with a net change of -6783; for IM2512, long positions decreased by 1294 [5] 3.4 Trend Intensity - The trend intensity of IF and IH is 1, and that of IC and IM is also 1. The trend intensity ranges from -2 to 2, with -2 indicating the most bearish and 2 indicating the most bullish [6] 3.5 Important Drivers - Seven departments including the People's Bank of China jointly issued the "Guiding Opinions on Financial Support for New - type Industrialization", strengthening medium - and long - term loan support for digital infrastructure construction such as 5G, industrial Internet, data and computing power centers, and using various financing methods to broaden the funding sources. They also put forward requirements in multiple aspects such as promoting the financing of emerging industries in the capital market, and the State Council emphasized consolidating and expanding the upward trend of the economic recovery [7][8]