Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-11-13 10:31Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoint of the Report - The overall performance of A-share Q3 reports is good, providing bottom support for the market. However, the significant decline in external demand in October, which supported GDP in the first three quarters, is expected to drag down the economic fundamentals in Q4 and have a negative impact on stock market sentiment. Currently, after the disclosure of A-share Q3 reports and with no important domestic meetings scheduled this month, the market is in a policy and performance vacuum period. In an environment lacking clear trading guidance, the market is expected to move randomly, and stock indices will remain volatile. It is recommended to wait and see for now [2] Group 3: Summary by Relevant Catalogs Futures Disk - IF, IH, IC, and IM main and secondary contracts all increased, with price increases ranging from +24.6 to +122.8. Most spreads between different contracts also changed, with some increasing and some decreasing. For example, the IF-IH current-month contract spread increased by +22.8, while the IM-IC current-month contract spread decreased by -3.6. The spreads between different quarters and the current month for various contracts also changed, with some widening and some narrowing [2] Futures Position - Among the top 20 net positions, the net positions of IF and IC decreased by -1012.0 and -247.0 respectively, while the net position of IH increased by +699.0, and the net position of IM decreased by -1819.0 [2] Spot Price - The spot prices of the Shanghai and Shenzhen 300, Shanghai Stock Exchange 50, China Securities 500, and China Securities 1000 all increased, with increases of +56.2, +29.4, +112.0, and +104.2 respectively. The basis of the main contracts of IF, IH, IC, and IM also changed, with some narrowing and some widening [2] Market Sentiment - A-share trading volume increased by +1008.68 billion yuan, while margin trading balance decreased by -31.00 billion yuan. Northbound trading volume increased by +26.98 billion yuan, and reverse repurchase operation volume increased by +1900.0 billion yuan. The proportion of rising stocks increased by +40.35%, and Shibor decreased by -0.100%. The closing prices and implied volatilities of IO at-the-money call and put options also changed, with some increasing and some decreasing [2] Wind Market Strength and Weakness Analysis - The strength and weakness indicators of all A-shares in terms of technology and funds increased by +3.50 and +3.00 respectively, with technology increasing by +4.10 [2] Industry News - A-share major indices closed up collectively, with the Shanghai Composite Index hitting a new high. The trading volume of the Shanghai and Shenzhen stock markets rebounded significantly, with nearly 4000 stocks rising. Industry sectors generally rose, with the power equipment and non-ferrous metals sectors strengthening significantly. In October, domestic CPI and PPI increased both year-on-year and month-on-month compared to the previous month, while external demand weakened significantly, and the new export orders index in the previously announced manufacturing PMI dropped by 1.9 percentage points compared to September [2] Key Data to Watch - Pending Chinese October financial data; US October CPI and core CPI at 21:30 on 11/13; Chinese October industrial added value above designated size, fixed asset investment, total retail sales of consumer goods, real estate data, and unemployment rate at 10:00 on 11/14 [3]