期指：继续等待经济工作会议，震荡偏强走势

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - On December 8th, all the current-month contracts of the four major index futures rose. IF increased by 0.76%, IH by 0.39%, IC by 0.95%, and IM by 0.94% [1] - On the trading day, the total trading volume of index futures declined, indicating a decrease in investors' trading enthusiasm. Specifically, the total trading volume of IF decreased by 4,291 lots, IH by 6,787 lots, IC by 24,924 lots, and IM by 50,024 lots. In terms of positions, the total positions of IF decreased by 4,343 lots, IH by 3,064 lots, IC by 11,667 lots, and IM by 20,325 lots [2] - The trend strength of IF and IH is 1, and that of IC and IM is also 1. The trend strength ranges from -2 to 2, with -2 being the most bearish and 2 being the most bullish [6] 3. Summary by Relevant Catalogs 3.1 Index Futures Data - IF Futures: The closing price of IF2512 is 4,613.2, up 0.76% with a basis of -8.55, trading volume of 76,082 lots (down 8,672 lots), and open interest of 132,821 lots (down 10,475 lots). For other contracts, similar data are provided [1] - IH Futures: The closing price of IH2512 is 3,015, up 0.39% with a basis of -4.36, trading volume of 31,875 lots (up 6,694 lots), and open interest of 55,867 lots (up 3,888 lots). Other contracts' data are also presented [1] - IC Futures: The closing price of IC2512 is 7,144, up 0.95% with a basis of -28.37, trading volume of 63,355 lots (up 19,994 lots), and open interest of 116,565 lots (up 14,425 lots). Data for other contracts are given [1] - IM Futures: The closing price of IM2512 is 7,380.4, up 0.94% with a basis of -42.65, trading volume of 104,973 lots (up 41,964 lots), and open interest of 168,647 lots (up 20,556 lots). Data for other contracts are included [1] 3.2 Top 20 Member Positions - IF Contracts: For IF2512, the long positions decreased by 8,881, and the short positions decreased by 7,839. For other contracts, the changes in long and short positions are also provided [5] - IH Contracts: For IH2512, the long positions decreased by 3,455, and the short positions decreased by 3,329. Data for other contracts are presented [5] - IC Contracts: For IC2512, the long positions decreased by 12,343, and the short positions decreased by 11,116. Information for other contracts is given [5] - IM Contracts: For IM2512, the long positions decreased by 15,311, and the short positions decreased by 15,806. Data for other contracts are included [5] 3.3 Important Drivers - The Politburo meeting pointed out that next year's economic work should adhere to making progress while maintaining stability and improving quality and efficiency, continue to implement a more proactive fiscal policy and a moderately loose monetary policy, and enhance the integrated effect of existing and incremental policies [7] - The regulatory authorities will guide industry institutions to adhere to the development direction of functionality, intensiveness, specialization, and specialization, and appropriately "relax the restrictions" on high-quality institutions [7] - In November, China's passenger car sales declined for the second consecutive month, with a year-on-year decrease of 8.5% to 2.24 million units. The decline was mainly due to a 22% drop in fuel vehicles and the withdrawal of subsidy policies. New energy vehicles accounted for 58.9%, a record high, but the growth rate of 4.2% was not enough to offset the decline. Exports were a bright spot, with a 52.4% increase in November. Institutions expect new energy vehicle exports to increase by 40% to 2.83 million units next year [7]