宝城期货股指期货早报（2026年1月6日）-20260106

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The short - term view of the stock index futures is that they will run with a bias towards strength in a volatile manner, and the medium - term view is that they will be volatile. The reference view is also a volatile and upward - biased trend. The main driving logic is the policy - favorable expectations, the inflow trend of funds, the strong resilience of macro - economic indicators, and the return of market liquidity after the holiday [1][5] Group 3: Summary by Related Catalogs Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the IH2603 variety, the short - term view is "volatile", the medium - term view is "volatile", the intraday view is "biased towards strength", and the reference view is "volatile and upward - biased". The core logic is the unchanged policy - favorable expectations and the trend of net capital inflow [1] Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The varieties include IF, IH, IC, and IM. The intraday view is "biased towards strength", the medium - term view is "volatile", and the reference view is "volatile and upward - biased". The core logic is that the stock indexes rose significantly yesterday, with the trading volume of the Shanghai, Shenzhen, and Beijing stock markets reaching 2567.2 billion yuan, an increase of 501.5 billion yuan from the previous day. After the holiday, market liquidity returned, policy - favorable expectations continued to ferment, and the risk appetite of the stock market significantly recovered. The strong resilience of macro - economic indicators, policy - favorable expectations, and the net capital inflow trend drive the upward movement of the stock index. The policy has determined to implement a more proactive fiscal policy and a moderately loose monetary policy in 2026, which will boost domestic demand and promote the performance restoration of listed companies. With the decline of the domestic risk - free interest rate, funds seeking high returns will increase the proportion of stock market asset allocation, and the long - term trend of net capital inflow into the stock market is established [5]