宝城期货股指期货早报（2025年12月31日）-20251231

Group 1: Report Investment Rating - There is no information about the industry investment rating in the provided report. Group 2: Core Viewpoints - The overall reference view for financial futures index stocks is "oscillating with a slight upward bias". For IH2603, the short - term view is "oscillating", the medium - term view is "oscillating", the intraday view is "slightly strong", and the overall view is "oscillating with a slight upward bias". For IF, IH, IC, and IM, the intraday view is "slightly strong", the medium - term view is "oscillating", and the reference view is "oscillating with a slight upward bias" [1][5]. - Policy - side positive expectations and the trend of capital inflows support the index. As these factors ferment and the demand for medium - and long - term funds to allocate A - shares increases, the risk appetite of the stock market will gradually rise. However, as the index approaches the previous high, it faces technical resistance, and continued upward movement requires policy and capital support. Near the New Year's Day holiday, market risk appetite has declined, and in the short term, the index will mainly maintain range - bound oscillations [5]. Group 3: Summary by Relevant Catalogs Variety Viewpoint Reference - Financial Futures Index Stock Sector - For IH2603, the short - term is "oscillating", the medium - term is "oscillating", the intraday is "slightly strong", and the view reference is "oscillating with a slight upward bias". The core logic is the unchanged positive policy expectations and capital inflow trends [1]. Main Variety Price Market Driving Logic - Financial Futures Index Stock Sector - The intraday view of IF, IH, IC, and IM is "slightly strong", the medium - term view is "oscillating", and the reference view is "oscillating with a slight upward bias". Yesterday, each index oscillated and consolidated. The total trading volume of the stock market was 2161.2 billion yuan, an increase of 360 million yuan from the previous day. Policy - side positive expectations and capital inflows support the index. With the fermentation of positive policy expectations and the increasing demand for medium - and long - term funds to allocate A - shares, the risk appetite of the stock market has gradually increased, and the index has continued to rebound since last week. But as it approaches the previous high, it faces technical resistance, and continued upward movement needs policy and capital support. Near the New Year's Day holiday, market risk appetite has declined, and in the short term, the index will mainly maintain range - bound oscillations [5].