宝城期货股指期货早报（2026年2月27日）-20260227

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The short - term view of IH2603 is to oscillate, the medium - term view is to oscillate, and the intraday view is bullish, with an overall view of oscillatory consolidation due to the increasing expectation of policy benefits [1]. - For IF, IH, IC, and IM, the intraday view is bullish, the medium - term view is oscillatory, and the reference view is oscillatory consolidation. In the short - term, the stock index runs with a bullish bias [5]. 3. Summary by Related Catalogs 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector | Variety | Short - term | Medium - term | Intraday | Viewpoint Reference | Core Logic Summary | | --- | --- | --- | --- | --- | --- | | IH2603 | Oscillate | Oscillate | Bullish | Oscillatory consolidation | Rising expectation of policy benefits [1] | 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - Yesterday, all stock indices oscillated in a narrow range. The trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 2556.6 billion yuan, an increase of 75.7 billion yuan from the previous day [5]. - As the Two Sessions policy time window approaches, the risk appetite of the stock market has recovered, and the trading volume has gradually increased. However, as the stock index approaches the previous high, the upward momentum has weakened in the short term [5]. - In the long - term, the expectation of policy benefits and the continuous net inflow of incremental funds into the stock market remain unchanged, which constitutes the main logic for the long - term upward movement of the stock index. The macro - policy support and the determination to support technological innovation can stabilize the macro - demand expectation, promote industrial transformation and upgrading, and improve the profit margin of listed companies. The asset allocation function of A - shares is gradually improving, which will continuously attract incremental funds into the stock market [5].