宝城期货股指期货早报-20250929

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The short - term view of the stock index futures is wide - range oscillation, with short - term funds having a profit - taking intention, while the medium - and long - term view is upward due to policy - driven expectations and long - term capital inflow trends [1][5] 3. Summary According to Related Catalogs 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector - For IH2512, the short - term view is oscillation, the medium - term view is upward, the intraday view is weakly oscillating, and the overall reference view is wide - range oscillation. The core logic is the game between short - term profit - taking intention of funds and the fermentation of medium - and long - term policy - driven expectations [1] 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - For IF, IH, IC, and IM, the intraday view is weakly oscillating, the medium - term view is upward, and the reference view is wide - range oscillation. Last Friday, all stock indices oscillated and corrected. The total trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 216.61 billion yuan, a decrease of 22.57 billion yuan from the previous day. News of Trump's new high - tariff policy on imported products increased market risk - aversion sentiment. As the valuation rises and the index approaches the previous high, coupled with the approaching National Day holiday, profit - taking demand of investors increases. However, in the long run, policy - driven expectations and long - term capital inflow trends are the driving forces for the upward movement of the stock index. The future market mainly focuses on the game between profit - taking rhythm of funds and the fermentation of policy expectations [5]