Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-11-17 10:39Report Summary 1. Report Industry Investment Rating - No information provided on the report industry investment rating. 2. Core View of the Report - A - share three - quarterly reports performed well, providing bottom support for the market. However, multiple economic indicators in October showed weakness, indicating significant downward pressure on the economy and putting pressure on the stock market. After the disclosure of the A - share three - quarterly reports and with no major domestic meetings this month, and after the release of macro - economic data, the market will enter a vacuum period of macro - data, performance, and policies. In the absence of clear trading guidance, the market is expected to move randomly, and stock index futures will remain volatile [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market Data - Futures Contract Prices: IF, IH, IC, and IM main and secondary contracts all declined. For example, the IF main contract (2512) was at 4581.4, down 41.0; the IH main contract (2512) was at 3009.2, down 34.0 [2]. - Futures Contract Spreads: Most spreads increased, such as the IF - IH monthly contract spread which was 1581.8, up 1.8; the IC - IF monthly contract spread was 2620.0, up 26.0 [2]. - Futures Seasonal - Monthly Spreads: Some spreads decreased, like the IF seasonal - monthly spread was - 43.4, down 1.8; some increased, such as the IH seasonal - monthly spread which was - 6.6, up 1.6 [2]. - Futures Net Positions: The net positions of the top 20 in IF, IH, IC, and IM all decreased. For example, the IF top 20 net position was - 23,624.00, down 1014.0 [2]. 3.2 Spot Market Data - Spot Index Prices: The Shanghai - Shenzhen 300 was at 4598.05, down 30.1; the Shanghai Composite 50 was at 3012.1, down 26.4; the CSI 500 was at 7235.4, down 0.1; the CSI 1000 was at 7523.1, up 20.3 [2]. - Futures - Spot Basis: The basis of IF, IH, IC, and IM main contracts all increased. For example, the IF main contract basis was - 16.6, up 11.1 [2]. 3.3 Market Sentiment Data - Trading Volume and Margin Trading: A - share trading volume was 19,303.21 billion yuan, down 500.61 billion yuan; the margin trading balance was 24,927.04 billion yuan, down 138.30 billion yuan [2]. - North - bound Trading and Repurchase: North - bound trading volume was 2098.22 billion yuan, down 155.99 billion yuan; the repurchase balance was - 1199.0 billion yuan, up 10830.0 billion yuan [2]. - Other Indicators: The proportion of rising stocks was 47.43%, up 11.44%; the Shibor was 1.508%, up 0.145% [2]. 3.4 Market Strength - Weakness Analysis - Wind Market Analysis: The overall A - share score was 4.70, up 1.00; the technical analysis score was 4.70, up 1.20; the capital analysis score was 4.60, up 0.70 [2]. 3.5 Industry News - Economic Data: In October, China's industrial added value of large - scale industries increased by 4.9% year - on - year, with a month - on - month increase of 0.17%. From January to October, it increased by 6.1% year - on - year. Social consumer goods retail sales in October were 46291 billion yuan, a year - on - year increase of 2.9%. From January to October, it was 412169 billion yuan, a year - on - year increase of 4.3%. From January to October, national fixed - asset investment was 408914 billion yuan, a year - on - year decrease of 1.7%. The real estate development investment decreased by 14.7% year - on - year, the sales area of new commercial housing decreased by 6.8% year - on - year, and the sales volume decreased by 9.6% year - on - year. In October, the real estate development climate index was 92.43 [2]. - Financial Data: At the end of October, the stock of social financing scale was 437.72 trillion yuan, a year - on - year increase of 8.5%. The cumulative increase in social financing scale in the first 10 months was 30.9 trillion yuan, 3.83 trillion yuan more than the same period last year. The M2 balance was 335.13 trillion yuan, a year - on - year increase of 8.2%; the M1 balance was 112 trillion yuan, a year - on - year increase of 6.2% [2]. 3.6 Key Data to Watch - On November 20 at 9:00, China's 1 - year and 5 - year LPR will be released. On November 20 at 21:30, the US September non - farm payrolls data, unemployment rate, and labor participation rate will be released [3].