期指：外部扰动成主拖累

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View - On November 18, all four major stock index futures contracts for the current month declined. IF fell 0.44%, IH fell 0.17%, IC fell 0.86%, and IM fell 0.72%. On the trading day, the total trading volume of stock index futures rebounded, indicating an increase in investors' trading enthusiasm. [1] - External disturbances are the main drag on stock index futures. [3] 3. Summary by Relevant Catalogs 3.1 Index Futures Data - IF Contracts: The closing prices of different IF contracts decreased, with varying degrees of decline. The basis of IF2511 was 1.41, and the trading volume and open interest of different contracts changed. The total trading volume increased by 7571 lots, and the total open interest increased by 5967 lots. [1][2] - IH Contracts: The closing prices of different IH contracts also decreased. The basis of IH2511 was 0.58. The total trading volume decreased by 2437 lots, and the total open interest decreased by 3423 lots. [1][2] - IC Contracts: The closing prices of different IC contracts dropped. The basis of IC2511 was 1.78. The total trading volume increased by 17523 lots, and the total open interest increased by 8185 lots. [1][2] - IM Contracts: The closing prices of different IM contracts declined. The basis of IM2511 was -2.5. The total trading volume increased by 20440 lots, and the total open interest increased by 6867 lots. [1][2] 3.2 Index Futures Basis - The basis data of IF, IH, IC, and IM are presented in the form of charts, showing the changes in the basis of different contracts over time. [4] 3.3 Index Futures Top 20 Member Position Changes - The long and short positions of different contracts of IF, IH, IC, and IM changed. For example, in IF2512, the long positions increased by 3457 lots and the net change was 4538 lots; the short positions increased by 4206 lots and the net change was 6021 lots. [5] 3.4 Trend Intensity and Important Drivers - The trend intensity of IF and IH is 1, and the trend intensity of IC and IM is 1. [6] - In October, the unemployment rates of different age - groups of the national urban labor force were announced. The new energy vehicle production and sales maintained rapid year - on - year growth in October, with new energy vehicle sales accounting for over 50% of total vehicle sales. The Shanghai Composite Index fell 0.81%, the Shenzhen Component Index fell 0.92%, and the ChiNext Index fell 1.16%. The A - share market had over 4100 stocks falling, and the lithium - battery industry chain declined, while AI application themes were active. [6]