股指早报：APEC会议前，中美博弈加剧-20251015

Report Industry Investment Rating No relevant content provided. Core Viewpoints - The dovish remarks of Fed officials have boosted market expectations for Fed rate cuts, while Sino-US trade frictions have intensified ahead of the APEC meeting, causing uncertainties in the market. The short - and long - term yields of US Treasuries have declined, gold has risen, and the US stock market has shown a volatile trend. The A - share market is in the process of risk release, with the short - term index expected to fluctuate around the 20 - day moving average, and the market style will be balanced in the short term but is expected to return to technology growth as the main line near the Fourth Plenary Session [2][3][16]. Summary by Directory 1. Market Views 1.1 Overseas Overnight - Fed Chair Powell said that balance - sheet reduction may near an end in the next few months and that the downside risk of the employment market has increased. Bowman expects two more rate cuts by the end of this year. Sino - US trade frictions have intensified due to counter - measures against US subsidiaries and Trump's threat to terminate trade in certain commodities. The Fed's dovish signals have supported US Treasuries, gold, and US stocks, but the US stock market has shown a volatile trend [2][6]. 1.2 Domestic Market Review - On Tuesday, the broader market, Shenzhen Component Index, and ChiNext Index all declined. The decline was due to the incomplete clearing of market risks on Monday. The banking sector provided support, while the STAR Market and ChiNext fell. The Sino - US trade friction has dampened market risk appetite. The banking, coal, food and beverage, and transportation sectors led the gains, while the communication, electronics, non - ferrous metals, and computer sectors led the losses [3][7]. 1.3 Important News - Fed: Powell believes that the balance - sheet reduction may near an end, the employment market has downside risks, and the Fed's actions need to be carefully balanced. Bowman expects two more rate cuts by the end of this year. Trump will announce a list of projects to be shut down related to the government shutdown on Friday. The US will announce its national security strategy in a few weeks. Premier Li Qiang chaired an economic symposium. China's Ministry of Commerce took counter - measures against five US - related subsidiaries of Hanwha Ocean Co., Ltd. The Ministry of Transport launched an investigation into the shipping and shipbuilding industries. A document on strengthening photovoltaic capacity regulation may be issued soon [8][9][13]. 1.4 Today's Strategy - The short - term index is expected to fluctuate around the 20 - day moving average. The market style will be balanced in the short term, but it is expected to return to technology growth as the main line near the Fourth Plenary Session [16]. 2. Futures Market Tracking - The report provides the closing prices, settlement prices, price changes, price change rates, basis, and other data of futures contracts such as Shanghai 50, CSI 300, CSI 500, and CSI 1000, as well as the trading volume, trading volume changes, trading value, trading value changes, open interest, and other data of each contract [18][19]. 3. Spot Market Tracking - The report shows the current points, daily, weekly, monthly, and annual price changes, trading volumes, and other data of major stock indices such as the Wande All - A Index, Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index. It also analyzes the impact of market styles on the Shanghai 50, CSI 300, CSI 500, and CSI 1000 indices, and presents the valuation, trading volume, turnover rate, and other data of the market [41][42][43]. 4. Liquidity Tracking - The report presents the central bank's open - market operations and the Shibor interest rate level [57].