期指：“十五五”目标出炉，偏强震荡

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Report's Core View - The release of the goals for the 15th Five - Year Plan has led to a relatively strong and volatile trend in index futures. The trading enthusiasm of investors has increased as shown by the rebound in the total trading volume of index futures. Different index futures have different performance in terms of price changes, trading volume, and open interest [1][2]. 3. Summary by Related Catalogs 3.1. Index Futures Data Tracking - Price and Change: On October 23, the current - month contracts of the four major index futures showed mixed trends. IF rose 0.34%, IH rose 0.61%, IC rose 0.3%, and IM rose 0.14%. The closing prices, price changes, basis, trading volume, and open interest of different contracts of each index futures are presented in detail [1]. - Trading Volume and Open Interest: On the trading day, the total trading volume of index futures rebounded. IF's total trading volume increased by 31,340 lots, IH's by 13,227 lots, IC's by 35,906 lots, and IM's by 78,086 lots. In terms of open interest, IF's total open interest increased by 15,352 lots, IH's by 5,556 lots, IC's by 17,898 lots, and IM's by 33,845 lots [1][2]. 3.2. Index Futures Basis - The basis data of IF, IH, IC, and IM from September 29, 2025, to October 23, 2025, are presented in graphical form [4]. 3.3. Top 20 Member Positions in Index Futures - The increase or decrease in long and short positions of the top 20 members in different contracts of IF, IH, IC, and IM are provided. Some data for certain contracts are not disclosed [5]. 3.4. Trend Intensity - The trend intensity of IF and IH is 1, and that of IC and IM is also 1. The trend intensity ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [6]. 3.5. Important Drivers - The communiqué of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China was officially released, putting forward the main goals for economic and social development during the 15th Five - Year Plan period. The Shanghai Composite Index rose 0.22% to 3,922.41 points, the Shenzhen Component Index rose 0.22%, and the ChiNext Index rose 0.09%. The A - share market had a turnover of 1.66 trillion yuan, slightly lower than the previous day's 1.69 trillion yuan [6].