瑞达期货股指期货全景日报-20260202

Report Summary of Key Points 1. Report Industry Investment Rating - Not provided in the given content 2. Report's Core View - After continuous rallies in mid - early January, the market's enthusiasm for chasing growth stocks cooled down. With the approaching Spring Festival, profit - taking occurred in the growth sector, and the market shifted towards value stocks. The decline of January's PMI also negatively affected market sentiment. Additionally, the short - term strengthening of the US dollar against the Chinese yuan suppressed the stock index trend. Only about one - third of companies that released 2025 performance pre - announcements had positive news, and most of these companies were in high - tech industries such as artificial intelligence [2] 3. Summary by Relevant Catalogs 3.1 Futures Data - Futures Contracts: All main and secondary contracts of IF, IH, IC, and IM decreased. For example, the IF main contract (2603) dropped to 4577.4, down 142.2; the IH main contract (2603) dropped to 3004.2, down 71.6; the IC main contract (2603) dropped to 7903.2, down 475.2; the IM main contract (2603) dropped to 7871.8, down 387.6 [2] - Futures Spreads: Most spreads decreased, such as the IF - IH monthly contract spread dropping to 1578.6, down 63.2; the IC - IF monthly contract spread dropping to 3368.8, down 298.4. Only the IM - IC monthly contract spread increased to - 41.0, up 53.8 [2] - Quarter - to - Month Spreads: All spreads between quarterly and monthly contracts decreased, like the IF quarterly - to - monthly spread dropping to - 42.2, down 32.0 [2] - Net Positions: The net positions of the top 20 in IF, IH, IC, and IM all decreased. For instance, the IF top 20 net position dropped to - 44,042.00, down 4366.0 [2] 3.2 Spot Price - Index Prices: The Shanghai and Shenzhen 300 index dropped to 4605.98, down 100.4; the Shanghai 50 index dropped to 3,003.1, down 63.4; the CSI 500 index dropped to 8,037.1, down 333.5; the CSI 1000 index dropped to 7,975.4, down 279.4 [2] - Basis: The basis of all main contracts decreased, with the IF main contract basis dropping to - 28.6, down 33.2 [2] 3.3 Market Sentiment - Trading Volume and Balance: A - share trading volume decreased to 26,066.38 billion yuan, down 2557.87 billion yuan; the margin trading balance decreased to 27,152.87 billion yuan, down 240.76 billion yuan; the northbound trading volume decreased to 3908.34 billion yuan, down 63.90 billion yuan [2] - Other Indicators: The proportion of rising stocks decreased to 14.07%, down 30.71 percentage points; Shibor increased to 1.365%, up 0.037 percentage points; IO at - the - money call option closing price decreased to 87.00, down 62.40; IO at - the - money call option implied volatility increased to 24.15%, up 4.03 percentage points; IO at - the - money put option closing price increased to 93.00, up 59.20; IO at - the - money put option implied volatility increased to 24.15%, up 4.46 percentage points; the 20 - day volatility of the Shanghai and Shenzhen 300 index increased to 11.76%, up 0.54 percentage points; the trading volume PCR increased to 76.31%, up 12.00 percentage points; the open interest PCR decreased to 61.14%, down 1.69 percentage points [2] 3.4 Wind Market Strength and Weakness Analysis - All A - shares decreased to 2.40, down 1.90; the technical aspect decreased to 1.40, down 3.00; the capital aspect decreased to 3.40, down 0.60 [2] 3.5 Industry News - Domestic: A - share main indexes closed down, with the Shanghai Composite Index down 2.48%, the Shenzhen Component Index down 2.69%, and the ChiNext Index down 2.46%. The trading volume of the Shanghai and Shenzhen stock markets declined significantly, and over 4600 stocks fell. Most industry sectors declined, with only the banking and food and beverage sectors rising. The January official manufacturing PMI was 49.3%, down 0.8 percentage points; the non - manufacturing PMI was 49.4%, down 0.8 percentage points; the composite PMI output index was 49.8%, down 0.9 percentage points [2] - Overseas: US President Trump nominated former Fed governor Kevin Warsh as the next Fed chair. Warsh is known for his hawkish stance on inflation, which led to an expectation of a hawkish monetary policy and a stronger US dollar index [2] 3.6 Key Points to Watch - 2/2 23:00 US January manufacturing PMI; 2/3 23:00 US December JOLTs job openings; 2/4 21:15 US January ADP employment; 2/5 20:00 Bank of England interest rate decision, 21:15 ECB interest rate decision; 2/6 21:30 US January non - farm payrolls, unemployment rate, labor participation rate [3]