Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-08-08 11:12Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoint of the Report - A - share major indices rose collectively this week, and the four stock - index futures also increased. Small and medium - cap stocks outperformed large - cap blue - chip stocks, with the order of gains being IM > IC > IF > IH. Market trading activity declined significantly compared to last week. Although the import and export trade has improved marginally, it may still face pressure in the future. The market's focus has shifted to the semi - annual reports of listed companies, and the net profit growth rates of the four broad - based indices are all positive. Some listed companies' fundamental improvements support the stock market, but the potential drag on index performance from the profit decline of companies that have not released their financial reports should be watched out for. A shares with reasonable valuations are attracting foreign capital inflows, and S&P's attitude towards China's sovereign credit rating also boosts market confidence. It is recommended to buy on dips with a light position [7][96]. 3. Summary by Directory 3.1 Market Review - Futures: IF2509 rose 1.33% this week, IH2509 rose 1.13%, IC2509 rose 2.02%, and IM2509 rose 2.94%. - Spot: The Shanghai - Shenzhen 300 rose 1.23%, the Shanghai Composite 50 rose 1.27%, the CSI 500 rose 1.78%, and the CSI 1000 rose 2.51% [9]. 3.2 News Overview - As of August 5, 23 stocks had QFIIs in their top ten tradable shareholders' lists at the end of the second quarter, with a total market value of holdings reaching 3.737 billion yuan, and an average market value of QFII holdings per stock of 162 million yuan. Compared with the end of the first quarter, 5 stocks had an increase in QFII shareholding, and 13 stocks were newly heavily held, with the proportion of stocks with increased positions reaching 78.26%. - In July, 1,298 private funds were registered in the entire market, a month - on - month increase of 18%, setting a new monthly registration volume high since 2025 and breaking the registration volume record in the past 27 months. - From January to July 2025, China's total value of goods trade imports and exports was 25.7 trillion yuan, a year - on - year increase of 3.5%. Exports were 15.31 trillion yuan, an increase of 7.3%; imports were 10.39 trillion yuan, a decrease of 1.6%, with the decline narrowing by 1.1 percentage points compared to the first half of the year. In July, the total value of goods trade imports and exports was 3.91 trillion yuan, an increase of 6.7%. Exports were 2.31 trillion yuan, an increase of 8%; imports were 1.6 trillion yuan, an increase of 4.8%, with two consecutive months of growth. - S&P decided to maintain China's sovereign credit rating at "A+" and the outlook at "stable". The Ministry of Finance responded that S&P's report highly recognized China's economic growth resilience and debt management effectiveness, reflecting confidence in China's economic prospects [13][14]. 3.3 Weekly Market Data - Domestic Main Indices: The Shanghai Composite Index rose 2.11%, the Shenzhen Component Index rose 1.25%, the STAR 50 Index rose 0.65%, the SME 100 Index rose 1.24%, and the ChiNext Index rose 0.49% [17]. - External Main Indices (as of Thursday): The S&P 500 rose 1.63%, the UK FTSE 100 rose 0.35%, the Hang Seng Index rose 1.43%, and the Nikkei 225 rose 2.50% [18]. - Industry Sector Performance: Industry sectors generally rose, with the national defense and military industry, non - ferrous metals, and machinery and equipment sectors rising significantly. Industry main funds were generally in net outflows, with significant net outflows in the pharmaceutical and biological and computer sectors. SHIBOR short - term interest rates declined, and the capital price was low. This week, major shareholders had a net reduction of 6.923 billion yuan in the secondary market, the market value of restricted shares lifted was 94.036 billion yuan, and the total trading volume of northbound funds was 815.488 billion yuan. The basis of the IF main contract strengthened oscillatingly, the basis of the IH main contract changed from positive to negative, and the basis of the IC and IM main contracts strengthened oscillatingly [22][26][30]. 3.4 Market Outlook and Strategy - The A - share major indices and four stock - index futures rose collectively this week, with small and medium - cap stocks outperforming large - cap blue - chip stocks. Market trading activity declined significantly compared to last week. Domestically, the economic fundamentals showed that the Sino - US tariff truce period was extended by 90 days, and trade relations improved marginally. In July, the growth rates of import and export amounts accelerated compared to June, but the trade surplus narrowed compared to the previous month. The confidence of exporters declined. S&P maintained China's sovereign credit rating. At the individual stock level, the net profit growth rates of the four broad - based indices increased. Northbound funds were actively traded, and QFIIs increased their positions in A - share listed companies. Although the import and export trade improved marginally, it may face pressure in the future. The market's focus has shifted to the semi - annual reports of listed companies, and some listed companies' fundamental improvements support the stock market. It is recommended to buy on dips with a light position [96].