宝城期货股指期货早报（2026年1月28日）-20260128

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - The short - term view of the stock index is mainly for shock consolidation, with short - term shock, medium - term shock, and intraday weakness [1][5] - Policy - side positive expectations and the continuous net inflow of incremental funds into the stock market are the main supporting forces for the upward movement of the stock index, but in the short term, the regulatory layer wants to control risks, and the "chasing high" sentiment is suppressed, and there are differences in the capital side between chasing up and taking profits [5] - The increase in this round of stock rebound is mainly contributed by the valuation side, and further rise requires the improvement of the stock fundamentals [5] - Due to the current preference for small - and medium - cap stocks in the stock market style, the fluctuations of IM and IC have intensified [5] Group 3: Summary According to the Catalog 1. Variety Viewpoint Reference - Financial Futures Stock Index Sector - For IH2603, the short - term is shock, the medium - term is shock, the intraday is weak, the reference view is shock consolidation, and the core logic is that the valuation side has increased rapidly, and the stock index needs shock consolidation and the demand is rising [1] 2. Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - For IF, IH, IC, and IM, the intraday view is weak, the medium - term view is shock, the reference view is shock consolidation [5] - The trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 292.15 billion yuan, a decrease of 35.92 billion yuan from the previous day [5] - In the long - and medium - term, policy - side positive expectations and the continuous net inflow of incremental funds support the upward movement of the stock index, but in the short term, the regulatory layer's risk - control expectation restrains the "chasing high" sentiment, and there are differences in the capital side, so the stock index needs shock consolidation [5]