宝城期货股指期货早报（2025年10月9日）-20251009

Group 1: Report Industry Investment Rating - Not mentioned in the provided content Group 2: Core Viewpoints of the Report - For the IH2512 variety, the short - term view is oscillation, the medium - term view is upward, and the intraday view is oscillating upward, with an overall view of wide - range oscillation. The core logic is the game between short - term capital profit - taking willingness and the fermentation of medium - and long - term policy favorable expectations [1]. - For IF, IH, IC, and IM varieties, the intraday view is oscillating upward, the medium - term view is upward, and the reference view is wide - range oscillation. The core logic is that on September 30, all stock indices oscillated upward. The full - day trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 219.72 billion yuan, an increase of 19.1 billion yuan from the previous day. The manufacturing PMI in September continued to recover, indicating strong resilience in the domestic macro - economy. Coupled with the expectation of favorable policies from important meetings in October, market risk appetite continued to rise. However, in the short term, due to the significant increase in the stock valuation, especially when the index rebounded near the previous high, there was still a demand for profit - taking by profitable funds. It is necessary to pay attention to the game between the subsequent profit - taking rhythm of funds and the fermentation of policy expectations. In general, since the index is close to the previous high, the stock index is expected to be mainly in wide - range oscillation in the short term [5]. Group 3: Summary by Related Catalogs Variety Viewpoint Reference - Financial Futures Stock Index Sector - The time - cycle is defined as short - term within one week, medium - term from two weeks to one month. For the IH2512 variety, short - term is oscillation, medium - term is upward, intraday is oscillating upward, with a view of wide - range oscillation, and the core logic is the game between short - term capital profit - taking and long - term policy expectations [1]. Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The varieties are IF, IH, IC, and IM. The intraday view is oscillating upward, the medium - term view is upward, the reference view is wide - range oscillation. The trading volume on September 30 increased, the manufacturing PMI continued to recover, and there are policy expectations in October, but short - term profit - taking demand exists, so the short - term stock index is expected to oscillate widely [5].