建信期货股指日评-20260120

Group 1: Report General Information - Report type: Stock Index Daily Review [1] - Date: January 20, 2026 [2] - Researchers: Nie Jiayi, He Zhuoqiao, Huang Wenxin [3] Group 2: Market Review and Outlook 1.1 Market Review - On January 19, the Wind All A index rose with shrinking volume, opening and oscillating upward, and moving sideways in the afternoon, closing 0.41% higher, with over 60% of stocks in the market rising. The CSI 300, CSI 500, and CSI 1000 closed up 0.05%, 0.67%, and 0.40% respectively, while the SSE 50 closed down 0.12%. In the futures market, the main contracts of IF, IC, and IM closed up 0.11%, 0.68%, and 0.09% respectively, and the main contract of IH closed down 0.22% (calculated by closing price) [6] 1.2 Market Outlook - External market: Trump imposed a 10% tariff on 8 European countries due to Greenland, and many EU countries are considering imposing tariffs on $93 billion worth of US goods exported to Europe, planning to hold an in - person summit on Thursday, January 22. - Domestic market: After the market on Friday, the China Securities Regulatory Commission held its 2026 system work conference, emphasizing maintaining stability, consolidating the steady - upward trend of the market, safeguarding trading fairness, cracking down on illegal activities such as excessive speculation and market manipulation, preventing large market fluctuations, deepening the reform of public funds, and expanding long - term capital sources. - The long - term upward trend of the stock market remains unchanged, but the regulatory authorities prefer a slow - bull market. The market volume shrank again, maintaining at 2.5 - 3 trillion. The support around the Shanghai Composite Index of 4100 points is relatively solid. Overall, although short - term sentiment has weakened due to regulatory attitudes, with the strengthening of domestic economic improvement expectations, the slow - bull pattern of the A - share market is gradually stabilizing, and a long - term bullish mindset should be maintained, with a low - buying strategy [7] Group 3: Data Overview - The report presents multiple charts including domestic main index performance, market style performance, industry sector performance (Shenwan Primary Index), trading volume of Wind All A and stock index spot, trading volume and open interest of stock index futures, basis trend of main contracts, inter - period spread trend, and statistics of major ETF fund shares and trading volume, all sourced from Wind and the Research and Development Department of CCB Futures [9][13][14] Group 4: Industry News - On January 20, the State Council Information Office will hold two press conferences related to the economy. In 2025, China's GDP was 1,401,879 billion yuan, a 5% increase year - on - year at constant prices. Quarterly, GDP grew 5.4% in Q1, 5.2% in Q2, 4.8% in Q3, and 4.5% in Q4. The added value of large - scale industries increased 5.9% for the whole year, with a 5.2% increase in December. The added value of the service industry increased 5.4%, and the total retail sales of consumer goods increased 3.7% for the year, with a 0.9% increase in December. Fixed - asset investment decreased 3.8% year - on - year, and real - estate development investment decreased 17.2% [30]