股指期货周报-20250829

Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - A - share major indices rose collectively this week, with the ChiNext Index and the STAR 50 Index showing strong performance, rising over 7%. The four stock - index futures also rose collectively. Market trading activity continued to increase compared to last week, with the average daily trading volume of the Shanghai and Shenzhen stock markets approaching 3 trillion yuan, and the trading amount of north - bound funds exceeding 1 trillion yuan for six consecutive weeks. In the short term, the market may experience shock consolidation after a continuous sharp rise. In the current low - interest - rate environment, the movement of residents' deposits will inject liquidity into the market, and the previous policies for the entry of medium - and long - term funds will help optimize the A - share investment structure. A - shares with reasonable valuations will continue to attract foreign capital inflows. The market still has expectations for policy intensification. It is recommended to buy on dips with a light position [7][96]. 3. Summary by Relevant Catalogs 3.1 Market Review - Futures: IF2509 rose 2.55% this week, IH2509 rose 1.29%, IC2509 rose 2.74%, and IM2509 rose 0.24%. - Spot: The Shanghai and Shenzhen 300 Index rose 2.71%, the Shanghai Stock Exchange 50 Index rose 1.63%, the China Securities 500 Index rose 3.24%, and the China Securities 1000 Index rose 1.03% [10]. 3.2 News Overview - From January to July, the total profit of industrial enterprises above the designated size was 4.02035 trillion yuan, a year - on - year decrease of 1.7%. The operating income was 78.07 trillion yuan, a year - on - year increase of 2.3%, and the operating cost was 66.80 trillion yuan, an increase of 2.5%. The operating income profit margin was 5.15%, a year - on - year decrease of 0.21 percentage points. In July, the profit of industrial enterprises above the designated size decreased by 1.5% year - on - year. - The scale of domestic ETFs reached 5.07 trillion yuan, and it only took 4 months to cross from 4 trillion to 5 trillion. The current number of ETF funds is 1,271. There are 101 ETFs with a scale of over 10 billion, and 6 with a scale of over 100 billion. - As of the end of July 2025, the total scale of China's public funds was 35.08 trillion yuan, reaching a record high for the tenth time since the beginning of 2024. In July, the scale of money market funds increased by over 38 billion yuan, that of stock funds increased by over 19 billion yuan, that of hybrid funds increased by over 13 billion yuan, and that of bond funds decreased by over 4.6 billion yuan [13]. 3.3 Weekly Market Data - Domestic Main Indices: The Shanghai Composite Index rose 0.84%, the Shenzhen Component Index rose 4.36%, the STAR 50 Index rose 7.49%, the SME 100 Index rose 4.47%, and the ChiNext Index rose 7.74% [16]. - External Main Indices (as of Thursday): The S&P 500 rose 0.54%, the UK FTSE 100 fell 1.12%, the Hang Seng Index fell 1.03%, and the Nikkei 225 rose 0.20% [17]. - Industry Sector Performance: Industry sectors showed mixed performance, with the communication, non - ferrous metals, and electronics sectors rising significantly. All industry sectors had net outflows of main funds, with significant net outflows in the computer and electronics sectors [21][25]. - Other Data: This week, major shareholders had a net reduction of 7.913 billion yuan in the secondary market, the market value of restricted shares lifted was 72.07 billion yuan, and the total trading amount of north - bound funds was 1.560645 trillion yuan. The basis of the main contracts of IF, IH, IC, and IM weakened [32][40][43][47][52]. 3.4 Market Outlook and Strategy - After continuous sharp rises, the market may experience shock consolidation in the short term. As the semi - annual reports of A - share listed companies are about to be fully disclosed, the market will enter a performance and policy vacuum period. In the current low - interest - rate environment, the movement of residents' deposits will inject liquidity into the market, and previous policies will help optimize the A - share investment structure. A - shares will continue to attract foreign capital inflows. The market still has expectations for policy intensification. It is recommended to buy on dips with a light position [96].