股指日报：如期回调，关注压力线附近情绪变化-20250819

1. Report Industry Investment Rating - No relevant content provided 2. Report's Core View - Today's stock market experienced a overall correction. The index failed to break through the pressure line mentioned yesterday and corrected as expected. Usually, the large - cap index is more resilient during corrections, but today it declined more while the small - cap index was relatively stable. The high trading volume (above 2.5 trillion yuan) supported high - P/E stocks, while cyclical industries like non - banking finance and upstream resources, which may be related to weak previous fundamentals, lacked upward support and pulled down the large - cap index. If the trading volume narrows, the small - cap index is expected to correct more. Currently, the market is in a multi - empty sentiment game stage, and attention should be paid to the market sentiment and trading volume adjustment at key points [6] 3. Summary by Relevant Catalogs Market Review - Today, the stock index corrected with shrinking volume, and the small - cap index had a relatively smaller decline. The trading volume of the two markets decreased by 1757.94 billion yuan. In the futures index market, all varieties declined with shrinking volume [4] Important News - Five departments including the Ministry of Human Resources and Social Security issued the "Notice on Issues Concerning the Withdrawal of Individual Pensions", enriching the withdrawal scenarios of individual pensions and clarifying specific operation methods, which will be implemented from September 1st [5] Insurance Strategy - Hold spot and buy put options [7] Futures Index Market Observation - The main contract intraday price changes of IF, IH, IC, and IM were - 0.50%, - 1.19%, - 0.13%, and - 0.03% respectively. The trading volumes were 10.9269 million lots, 6.2436 million lots, 10.2352 million lots, and 23.6188 million lots respectively, with a decrease of 4.0988 million lots, 1.1755 million lots, 2.9385 million lots, and 5.6941 million lots respectively compared with the previous period. The open interests were 25.8257 million lots, 10.3724 million lots, 22.075 million lots, and 37.695 million lots respectively, with a decrease of 1.5341 million lots, 0.35 million lots, 0.5253 million lots, and 1.5574 million lots respectively compared with the previous period [7] Spot Market Observation - The Shanghai Composite Index declined by 0.02%, and the Shenzhen Component Index declined by 0.12%. The ratio of rising to falling stocks was 1.28. The trading volume of the two markets was 25883.69 billion yuan, with a decrease of 1757.94 billion yuan compared with the previous period [8]