Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-10-24 09:20Report Summary 1. Report Industry Investment Rating - Not mentioned in the provided content. 2. Core Viewpoints - Stock Market: A - shares and four stock index futures rose collectively this week, with small - and medium - cap stocks outperforming large - cap blue - chip stocks. After the Fourth Plenary Session of the 20th Central Committee, market sentiment was boosted, but trading activity declined. It is recommended to buy on dips [6]. - Bond Market: Treasury futures weakened this week. Although the fundamentals and capital situation may push the bond market to strengthen, uncertainties will continue to disrupt market sentiment. It is expected that Treasury futures will fluctuate widely in the short term, and interval operations are recommended [6]. - Commodity Market: Geopolitical conflicts drive up oil prices, and gold fluctuations decrease. The short - term commodity index is expected to fluctuate strongly, and it is recommended to mainly observe [6]. - Foreign Exchange Market: The US dollar may be under pressure in the medium term. The yen is under pressure, and short - term dollar strength may suppress the euro and yen. It is recommended to observe cautiously [6][10]. 3. Summary by Directory This Week's Summary and Next Week's Allocation Recommendations - Stock: The Shanghai and Shenzhen 300 rose 3.24%, and the Shanghai and Shenzhen 300 stock index futures rose 3.35%. A - shares and four stock index futures rose, with market sentiment boosted after the Fourth Plenary Session. It is recommended to buy on dips [6]. - Bond: The 10 - year Treasury bond yield rose 0.21%, and the main 10 - year Treasury futures fell 0.27%. Due to policy and market uncertainties, it is expected to fluctuate widely in the short term, and interval operations are recommended [6]. - Commodity: The Wind Commodity Index fell 4.93%, and the CSI Commodity Futures Price Index fell 0.29%. Geopolitical conflicts drive up oil prices, and gold fluctuations decrease. It is recommended to mainly observe [6]. - Foreign Exchange: The euro against the US dollar fell 0.42%. The US dollar may be under pressure in the medium term, and the yen is under pressure. It is recommended to observe cautiously [6]. Important News and Events - China - US Relations: The two sides are about to return to the negotiation table, and Trump plans to visit China next year. China advocates resolving issues through negotiation [14][16]. - Domestic Policy: The Fourth Plenary Session of the 20th Central Committee emphasized "sustained efforts in pro - growth policies" [6]. - International Affairs: The EU invited China to discuss rare earths, and European leaders supported the Russia - Ukraine cease - fire through negotiation. The Trump administration froze $11 billion in infrastructure funds [14][16]. This Week's Domestic and Foreign Economic Data - China: The Q3 GDP annual rate was 4.8%, the September social consumer goods retail sales increased 3% year - on - year, and the September industrial added value increased 6.5% year - on - year [11][17]. - US: The September existing home sales totaled 4.06 million annualized [17]. - EU: The preliminary October consumer confidence index was - 14.2 [17]. - UK: The September CPI monthly rate was 0, and the September retail price index monthly rate was - 0.4% [17]. - Germany: The September PPI monthly rate was - 0.1% [17]. Next Week's Important Economic Indicators and Economic Events - October 27: China's January - September industrial enterprise profit annual rate, US September durable goods orders monthly rate [81]. - October 28: Germany's November Gfk consumer confidence index, US August S&P/CS20 city house price index annual rate [81]. - October 30: US Fed interest rate decision, eurozone Q3 GDP annual rate, US Q3 real GDP annualized quarterly rate, etc. [81]. - October 31: Japan's September unemployment rate, China's October official manufacturing PMI, etc. [81].