股指日报：量能支撑下，再创新高-20250818

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View - The stock market hit a new high again today. The technology sector represented by TMT continued to be favored by funds, while the pro - cyclical sectors were generally weak. The Shanghai Composite 50 Index rose only 0.21%, while the CSI 1000 Index soared 1.69% [4]. - In the short term, the stock market is driven by funds, sentiment, and structural market conditions. With low sensitivity to economic data and no obvious short - term negatives, continuous capital inflows, optimistic sentiment, and structural support from technology news have sustained the upward trend of the stock market [4]. - Technically, the CSI 300 Index is approaching the medium - to - long - term resistance line at around 4250. Traders should pay attention to its breakthrough. Although the market sentiment is high, in the long run, the market will not deviate from the economic fundamentals. Therefore, it is necessary for holders to manage risks [4]. - Strategy recommendation: Insurance strategy - hold spot and buy put options [4]. 3. Summary by Related Catalogs Market Review - The stock index showed significant volume expansion and overall growth today, with the market index hitting a new high. The trading volume of the two markets increased by 51.9551 billion yuan. All futures index varieties rose with increased volume [2]. Important Information - China supports all efforts conducive to the peaceful resolution of the crisis and welcomes the contact and improvement of relations between Russia and the US to promote the political settlement of the Ukraine crisis [3]. - The Ministry of Commerce extended the anti - subsidy investigation period for imported related dairy products originating from the EU [3]. Futures Index Market Observation | | IF | IH | IC | IM | | --- | --- | --- | --- | --- | | Main contract intraday change (%) | 0.82 | 0.08 | 1.28 | 1.58 | | Trading volume (10,000 lots) | 15.0257 | 7.4191 | 13.1737 | 29.3129 | | Trading volume MoM (10,000 lots) | 0.9502 | - 0.3105 | 0.969 | 3.5552 | | Open interest (10,000 lots) | 27.3598 | 10.7224 | 22.6003 | 39.2524 | | Open interest MoM (10,000 lots) | 1.5159 | 0.7111 | 0.3557 | 2.6482 | [4] Spot Market Observation | Name | Value | | --- | --- | | Shanghai Composite Index change (%) | 0.85 | | Shenzhen Component Index change (%) | 1.73 | | Ratio of rising to falling stocks | 3.09 | | Trading volume of the two markets (billion yuan) | 276.4163 | | Trading volume MoM (billion yuan) | 51.9551 | [5]