宏观金融数据日报-20260128

Report Summary 1. Report Industry Investment Rating - No relevant information provided. 2. Core Viewpoints - In 2025, China's industrial enterprise profit growth turned positive, with a year - on - year increase of 0.6%, the first positive growth since 2021, and the profit in December increased significantly by 5.3%. - The stock index showed a "V" shape intraday, and the volatility of stock index options decreased significantly. The market is expected to be mainly in a relatively strong shock before the Spring Festival, and the short - term shock adjustment space is limited [7]. 3. Summary by Related Catalogs - Market Interest Rates - DRO01 closed at 1.37, down 4.98bp; DR007 closed at 1.58, up 0.95bp; GC001 closed at 1.36, down 1.50bp; GC007 closed at 1.62, unchanged; SHBOR 3M closed at 1.60, down 0.10bp; LPR 5 - year was 3.50, unchanged; 1 - year treasury bond closed at 1.29, up 0.75bp; 5 - year treasury bond closed at 1.54, unchanged; 10 - year treasury bond closed at 1.83, up 0.45bp; 10 - year US treasury bond closed at 4.22, down 2.00bp [4]. - The central bank conducted 4020 billion yuan of 7 - day reverse repurchase operations yesterday, with an operating interest rate of 1.40%, unchanged from before [4]. - Open Market Operations - This week, 11810 billion yuan of reverse repurchases in the central bank's open market will mature, with 1583 billion, 3240 billion, 3635 billion, 2102 billion, and 1250 billion yuan maturing from Monday to Friday respectively. In addition, 2000 billion yuan of MLF will mature on Monday [5]. - The central bank emphasized expanding the scope of macro - prudential policies, predicting systemic financial risks, and maintaining the stability of the financial market [5]. - Stock Index Futures and Spot Markets - The CSI 300 closed at 4706, down 0.03%; the SSE 50 closed at 3052, up 0.09%; the CSI 500 closed at 8549, up 0.50%; the CSI 1000 closed at 8382, up 0.20%. The IF contract for the current month closed at 4715, unchanged; the IH contract for the current month closed at 3060, up 0.2%; the IC contract for the current month closed at 8554, up 0.8%; the IM contract for the current month closed at 8386, up 0.7% [6]. - The trading volume of IF was 142964, down 24.6; the trading volume of IH was 67869, down 19.8; the trading volume of IC was 211372, down 6.8; the trading volume of IM was 262400, down 5.3. The positions of IF were 310326, with an unspecified change; the positions of IH were 114497, down 3.5%; the positions of IC were 343302, down 0.2%; the positions of IM were 398403, up 1.0% [6]. - The trading volume of the Shanghai, Shenzhen and Beijing stock markets was 29217 billion yuan, a decrease of 3593 billion yuan from the previous day. Most industry sectors declined, with precious metals, semiconductors, photovoltaic equipment, aerospace and insurance sectors rising, and coal, pharmaceutical commerce, energy metals, batteries and traditional Chinese medicine sectors falling [6]. - Stock Index Futures Premium and Discount - The IF premium/discount rates for the current month, next month, current quarter, and next quarter contracts were - 2.94%, - 1.87%, 0.15%, and 1.73% respectively. - The IH premium/discount rates for the current month, next month, current quarter, and next quarter contracts were - 3.89%, - 2.67%, - 1.31%, and 0.53% respectively. - The IC premium/discount rates for the current month, next month, current quarter, and next quarter contracts were - 0.94%, 0.11%, 2.21%, and 3.26% respectively. - The IM premium/discount rates for the current month, next month, current quarter, and next quarter contracts were - 0.63%, 2.09%, 4.93%, and 6.02% respectively [8].