期指：或企稳回升

Report Industry Investment Rating - The report indicates that the stock index futures may stabilize and rebound [3] Core Viewpoints - On March 9, all the current-month contracts of the four major stock index futures declined. IF dropped by 1.09%, IH by 0.97%, IC by 0.75%, and IM by 0.28% [1] - On this trading day, the total trading volume of stock index futures rebounded, indicating an increase in investors' trading enthusiasm. Specifically, the total trading volume of IF increased by 53,708 lots, IH by 21,193 lots, IC by 66,844 lots, and IM by 98,751 lots. In terms of positions, the total positions of IF increased by 18,910 lots, IH by 4,497 lots, IC by 17,558 lots, and IM by 31,272 lots [2] - The trend strength of IF and IH is 1, and that of IC and IM is also 1 [6] Summary by Relevant Catalogs Stock Index Futures Data - IF Contracts: The closing price of IF2603 was 4,599.2, down 1.09% with a basis of -16.26, and the trading volume was 91,988 lots, an increase of 31,825 lots. The closing price of IF2604 was 4,580.2, down 1.20% with a basis of -35.26, and the trading volume was 7,350 lots, an increase of 1,890 lots. The closing price of IF2606 was 4,537, down 1.10% with a basis of -78.46, and the trading volume was 35,932 lots, an increase of 15,625 lots. The closing price of IF2609 was 4,464.6, down 1.13% with a basis of -150.86, and the trading volume was 12,496 lots, an increase of 4,368 lots [1] - IH Contracts: The closing price of IH2603 was 2,962.4, down 0.97% with a basis of -0.59, and the trading volume was 41,318 lots, an increase of 13,354 lots. The closing price of IH2604 was 2,958, down 1.04% with a basis of -4.99, and the trading volume was 3,430 lots, an increase of 878 lots. The closing price of IH2606 was 2,951.8, down 0.94% with a basis of -11.19, and the trading volume was 14,731 lots, an increase of 5,709 lots. The closing price of IH2609 was 2,912.6, down 0.94% with a basis of -50.39, and the trading volume was 5,209 lots, an increase of 1,252 lots [1] - IC Contracts: The closing price of IC2603 was 8,267, down 0.75% with a basis of -12.48, and the trading volume was 116,276 lots, an increase of 34,835 lots. The closing price of IC2604 was 8,220, down 0.79% with a basis of -59.48, and the trading volume was 10,054 lots, an increase of 2,530 lots. The closing price of IC2606 was 8,081.8, down 0.88% with a basis of -197.68, and the trading volume was 58,224 lots, an increase of 23,707 lots. The closing price of IC2609 was 7,901.8, down 0.96% with a basis of -377.68, and the trading volume was 18,813 lots, an increase of 5,772 lots [1] - IM Contracts: The closing price of IM2603 was 8,191, down 0.28% with a basis of -12.87, and the trading volume was 168,105 lots, an increase of 58,898 lots. The closing price of IM2604 was 8,130.2, down 0.37% with a basis of -73.67, and the trading volume was 12,516 lots, an increase of 4,293 lots. The closing price of IM2606 was 7,970.8, down 0.40% with a basis of -233.07, and the trading volume was 69,412 lots, an increase of 27,351 lots. The closing price of IM2609 was 7,765, down 0.48% with a basis of -438.87, and the trading volume was 24,377 lots, an increase of 8,209 lots [1] Position Changes of the Top 20 Members in Stock Index Futures - For IF contracts, the long positions of IF2603 increased by 9,079 lots, and the short positions increased by 8,528 lots. The long positions of IF2604 increased by 1,749 lots, and the short positions increased by 1,961 lots. The long positions of IF2606 increased by 4,578 lots, and the short positions increased by 5,414 lots. The long positions of IF2609 increased by 1,626 lots, and the short positions increased by 2,167 lots [5] - For IH contracts, the long positions of IH2603 and IH2604 increased by 2,295 lots, and the short positions increased by 1,549 lots. The long positions of IH2606 increased by 1,049 lots, and the short positions increased by 1,002 lots. The long positions of IH2609 increased by 312 lots, and the short positions increased by 186 lots [5] - For IC contracts, the long positions of IC2603 increased by 7,753 lots, and the short positions increased by 5,452 lots. The long positions of IC2604 increased by 872 lots, and the short positions increased by 802 lots. The long positions of IC2606 increased by 7,914 lots, and the short positions increased by 7,034 lots. The long positions of IC2609 increased by 2,228 lots, and the short positions increased by 2,322 lots [5] - For IM contracts, the long positions of IM2603 increased by 13,227 lots, and the short positions increased by 9,080 lots. The long positions of IM2604 increased by 2,032 lots, and the short positions increased by 2,059 lots. The long positions of IM2606 increased by 9,733 lots, and the short positions increased by 8,606 lots [5] Market Conditions in Other Areas and Their Influences - The statement of US President Trump that the war against Iran may end soon led to a rapid decline in US oil prices, which once dropped by more than 10%. The G7 finance ministers held a phone conference to discuss how to deal with the soaring oil prices caused by the war between the US, Israel and Iran. They basically reached a consensus not to release strategic oil reserves for the time being [7] - Affected by the blocked shipping in the Strait of Hormuz and the production cuts of major oil-producing countries, international oil prices soared again. WTI crude oil futures once rose by more than 31%, and Brent crude oil once soared by nearly 29%, both approaching $120 per barrel. The A-share market was affected by the tense situation in the Middle East and the soaring oil prices. The Shanghai Composite Index fell by 0.67%, and the total trading volume was 2.67 trillion yuan [8] - The Hong Kong stock market fluctuated and declined. The Hang Seng Index fell by 1.35%, and the trading volume was 392.33 billion Hong Kong dollars. The net purchase amount of southbound funds reached 37.213 billion Hong Kong dollars, setting a record high [9] - The three major US stock indexes closed higher. The Dow Jones Industrial Average rose by 0.5%, the S&P 500 Index rose by 0.83%, and the Nasdaq Composite Index rose by 1.38% [9] - The three major European stock indexes closed lower. The German DAX Index fell by 0.77%, the French CAC40 Index fell by 0.98%, and the UK FTSE 100 Index fell by 0.34% [10] - Affected by the tense situation in the Middle East, the Asia-Pacific stock markets experienced a "Black Monday". The South Korean Composite Index fell by 5.96%, and the Nikkei 225 Index fell by 5.2% [10]