建信期货股指日评-20251017

Group 1: Report Information - Report type: Stock index daily review [1] - Date: October 17, 2025 [2] - Researchers: Nie Jiayi, He Zhuoqiao, Huang Wenxin [3] Group 2: Market Review and Outlook Market Review - On October 16, the Wind All A index declined with shrinking volume, down 0.44%, and over 4,000 stocks fell. CSI 300 and SSE 50 rose 0.26% and 0.59% respectively, while CSI 500 and CSI 1000 fell 0.86% and 1.09% respectively. Blue - chip stocks performed better. In index futures, IF and IH rose 0.30% and 0.72% respectively, while IC and IM fell 1.10% and 0.96% respectively [6] Market Outlook - The US intends to extend the suspension of tariffs on China in exchange for China delaying rare - earth export controls. China has stated its stance. Before the APEC meeting, Sino - US game intensifies. China's September export data shows resilience, but exports to the US decline. Due to the high base last year, export year - on - year data may face pressure in Q4. The low - valuation advantage of A - shares has disappeared, and the high valuation of the technology sector brings risks. Tariff disturbances may not end soon, and market volatility may continue. In the short term, an arbitrage strategy of long large - cap blue - chips and short small - cap growth stocks can be used. In the short - term, attention can be paid to defensive sectors such as banks, gas, and power, as well as new infrastructure and domestic substitution sectors. As the Fourth Plenary Session approaches, the market style may turn to technology growth [7] Group 3: Industry News - On October 16, the central bank conducted 236 billion yuan of 7 - day reverse repurchase operations at an interest rate of 1.40%, with a net withdrawal of 376 billion yuan. The Ministry of Commerce will work on releasing policy effectiveness, promoting trade, and deepening trade cooperation, including implementing existing policies, providing services to foreign - trade enterprises, and preparing new policies [30]