Group 1: Report Industry Investment Rating - Not provided Group 2: Core Viewpoints of the Report - Last week, the four stock index futures varieties continued to rise significantly, with relatively large increases in CSI 300 and CSI 500. The basis of the four stock index futures varieties remained in the futures discount mode, and the discount depth improved. The A - share market continued the previous general upward trend, with the Shanghai Composite Index breaking through the 2021 bull - market high and standing above 3800 points. Although there was sector rotation, there were still risks in the long - term view [4]. - The initiator and promoter of this round of market are not retail investors. The core clue of this round of market is around industrial trends and performance. There will be a relay process of new and old funds in the market, and the continuation of the future market requires new allocation clues [5]. - At the Jackson Hole Global Central Bank Annual Meeting on Friday night, Federal Reserve Chairman Powell expressed a clear signal of accelerating interest rate cuts, which provides a new basis for domestic monetary easing. More overseas funds will flow into A - shares. Next week, the stock index may accelerate the attack on the integer mark, and then it will be judged whether to further attack or oscillate and adjust according to the market sentiment and news. The four major stock index futures are still treated as oscillating strongly [6]. Group 3: Summary by Relevant Catalogs Market Review - Last week, the four stock index futures varieties continued to rise significantly, with relatively large increases in CSI 300 and CSI 500. The basis of the four stock index futures varieties remained in the futures discount mode, and the discount depth improved. The A - share market continued the previous general upward trend, with the Shanghai Composite Index breaking through the 2021 bull - market high and standing above 3800 points. As of August 22, there was sector rotation, but the low - level switching was not obvious. There were still risks in the long - term view [4]. Comprehensive Analysis - The initiator and promoter of this round of market are not retail investors. The core clue from the start to the acceleration of this round of market is around industrial trends and performance. There will be a relay process of new and old funds in the market, and the continuation of the future market requires new allocation clues rather than being restricted by liquidity [5]. Outlook for the Future Market - At the Jackson Hole Global Central Bank Annual Meeting on Friday night, Federal Reserve Chairman Powell expressed a clear signal of accelerating interest rate cuts, which provides a new basis for domestic monetary easing. More overseas funds will flow into A - shares. Next week, the stock index may accelerate the attack on the integer mark, and then it will be judged whether to further attack or oscillate and adjust according to the market sentiment and news. The four major stock index futures are still treated as oscillating strongly [6]
股指期货周报：持续上攻，屡创新高-20250825
Cai Da Qi Huo·2025-08-25 07:12