Nanhua Futures(SH:603093) Nan Hua Qi Huo·2025-11-11 10:03Report Industry Investment Rating - Not provided Core View - The potential end of the US government shutdown boosted market sentiment, causing stock indices to open higher today. However, they trended downward after the opening and fluctuated until the close, with the total trading volume of the two markets falling below 2 trillion yuan again. The basis of stock index futures declined, and the open interest decreased, indicating a stronger willingness among long - position holders to exit. With a relatively quiet information environment, on one hand, the long - term high - level oscillation has increased the willingness of funds to take profits, leading to a correction pressure on the index; on the other hand, policy expectations provide relatively strong support at the lower level of the index. Therefore, the index is expected to maintain a volatile pattern in the short term. Attention should be paid to the economic data to be released this week to further verify the recovery of the fundamentals [4] Market Review - Stock indices closed lower today. Taking the CSI 300 index as an example, it closed down 0.91%. In terms of funds, the trading volume of the two markets decreased by 180.868 billion yuan. Stock index futures all declined with reduced trading volume [2] Important Information - The State Council General Office issued 13 measures to further promote private investment, including expanding market access, removing bottlenecks, and strengthening guarantees - There is a glimmer of hope in the US government shutdown crisis! The Senate passed a temporary appropriation bill on Sunday to fund the government until next January [3] Strategy Recommendation - Hold positions and wait and see [5] Futures Market Observation | Index | Main Contract Intraday Change (%) | Trading Volume (10,000 lots) | Trading Volume MoM (10,000 lots) | Open Interest (10,000 lots) | Open Interest MoM (10,000 lots) | | --- | --- | --- | --- | --- | --- | | IF | -0.84 | 11.04 | 0.3615 | 26.3184 | -0.5129 | | IH | -0.58 | 5.0142 | 0.4232 | 9.4744 | -0.1967 | | IC | -0.79 | 11.2484 | -1.0252 | 24.1256 | -0.8077 | | IM | -0.30 | 18.6082 | -0.8391 | 35.4095 | -0.0582 | [5] Spot Market Observation | Name | Value | | --- | --- | | Shanghai Composite Index Change (%) | -0.39 | | Shenzhen Component Index Change (%) | -1.03 | | Ratio of Rising to Falling Stocks | 1.11 | | Total Trading Volume of the Two Markets (100 million yuan) | 19935.86 | | Trading Volume MoM (100 million yuan) | -1808.68 | [6]