宝城期货股指期货早报（2026年1月7日）-20260107

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The short - term view of IH2603 is "shock", the medium - term view is "shock", the intraday view is "bullish", and the overall view is "bullish with shocks". The core logic is that the expectations of policy benefits and the trend of net capital inflows remain unchanged [1]. - For the IF, IH, IC, and IM varieties, the intraday view is "bullish", the medium - term view is "shock", and the reference view is "bullish with shocks". The short - term stock index is expected to run bullishly with shocks. The main reasons are the continuous increase in market liquidity and policy benefit expectations after the holiday, and the strong willingness of leveraged funds to enter the market [5]. 3. Summary by Relevant Catalogs 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector - IH2603: - Short - term: Shock [1] - Medium - term: Shock [1] - Intraday: Bullish [1] - Viewpoint reference: Bullish with shocks [1] - Core logic: Expectations of policy benefits and the trend of net capital inflows remain unchanged [1] 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - Varieties: IF, IH, IC, IM [5] - Intraday view: Bullish [5] - Medium - term view: Shock [5] - Reference view: Bullish with shocks [5] - Core logic: The stock market has risen sharply and continuously after the holiday. The trading volume in the Shanghai, Shenzhen and Beijing stock markets reached 2832.2 billion yuan, an increase of 265 billion yuan from the previous day. The reasons are the return of market liquidity and the continuous increase in policy benefit expectations. The policy emphasizes the construction of a modern industrial system, and related industrial chain stocks have risen significantly. The margin trading balance has exceeded 2.5 trillion yuan, and the margin trading purchase amount is close to 300 billion yuan, indicating strong willingness of leveraged funds to enter the market and optimistic market sentiment. In the long - run, policy benefits and net capital inflows are the main drivers for the upward movement of the stock index. With the implementation of policy benefits in 2026 and continuous net capital inflows, the risk appetite of the stock market will continue to rise [5]