期指：仍有企稳可能

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - On March 17, 2026, the monthly contracts of the four major index futures showed mixed trends. IF fell 0.71%, IH rose 0.3%, IC fell 2.05%, and IM fell 2.02%. The total trading volume of index futures rebounded, indicating an increase in investors' trading enthusiasm. The total trading volume of IF, IH, IC, and IM increased by 21,683, 8,837, 560, and 16,761 lots respectively. In terms of positions, the total positions of IF and IM increased by 6,776 and 508 lots respectively, while the total positions of IH and IC decreased by 3,547 and 8,120 lots respectively. The trend strength of IF and IH is 1, and that of IC and IM is also 1 [1][2][6]. 3. Summary by Relevant Catalogs 3.1 Index Futures Data Tracking - IF Series: The closing price of IF2603 was 4,628.8, down 0.71%, with a basis of -8.64, a trading volume of 101.47 billion, a trading volume of 72,312 lots (up 4,747 lots), and an open interest of 78,883 lots (down 10,452 lots). Similar data is provided for IF2604, IF2606, and IF2609 [1]. - IH Series: The closing price of IH2603 was 2,962, up 0.30%, with a basis of -1.58, a trading volume of 30.4 billion, a trading volume of 34,019 lots (up 1,218 lots), and an open interest of 33,412 lots (down 9,337 lots). Similar data is provided for IH2604, IH2606, and IH2609 [1]. - IC Series: The closing price of IC2603 was 8,000, down 2.05%, with a basis of -16.03, a trading volume of 116.99 billion, a trading volume of 72,130 lots (down 9,865 lots), and an open interest of 69,093 lots (down 15,355 lots). Similar data is provided for IC2604, IC2606, and IC2609 [1]. - IM Series: The closing price of IM2603 was 8,014, down 2.02%, with a basis of -5.86, a trading volume of 177.54 billion, a trading volume of 109,515 lots (down 3,322 lots), and an open interest of 100,638 lots (down 14,329 lots). Similar data is provided for IM2604, IM2606, and IM2609 [1]. 3.2 Index Futures Basis - The basis data of IF, IH, IC, and IM from February 11 to March 17, 2026, are presented in graphical form, showing the basis changes of the current month, next month, current quarter, and next quarter contracts [4]. 3.3 Top 20 Member Positions - The changes in long and short positions of the top 20 members in each contract of IF, IH, IC, and IM are provided. For example, in IF2603, the long positions decreased by 6,966 lots, and the short positions decreased by 8,912 lots [5]. 3.4 Market Trends and Drivers - A-shares showed a trend of rising and then falling. The Shanghai Composite Index fell 0.85% to 4,049.91 points, the Shenzhen Component Index fell 1.87%, the ChiNext Index fell 2.29%, and other major indices also declined. The market turnover was 2.22 trillion yuan, and more than 4,500 stocks fell. The computing power hardware industry chain and super-hard material concepts fell sharply, while the sub - new stocks and large - financial sectors strengthened [6]. - Hong Kong stocks also showed a trend of rising and then falling. The Hang Seng Index rose 0.13% to 25,868.54 points, the Hang Seng Tech Index fell 0.08%, and the Hang Seng China Enterprises Index rose 0.12%. The semiconductor, electrical equipment, and energy chemical sectors fell, while the real estate, automobile, and financial stocks strengthened. The market turnover was HK$268.26 billion, and the southbound funds had a net selling of more than HK$11 billion [7].