隔夜美伊冲突上升，但其他资产与油价走势割裂：股指早报-20260318

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints - The US-Iran conflict is unlikely to end in the short term. The overnight market showed a divergence where the trends of crude oil and other assets were opposite to the previous situation. Attention should be paid to the changes in crude oil prices and market trends [2][4] - The risk appetite of the domestic A-share market decreased significantly. Although the index showed signs of a short position, there was no need to be overly worried for the time being. After an inertial decline, the index would have a rebound and repair. It is necessary to continue to pay attention to extreme situations such as earnings reports and geopolitical risks [3][4] 3. Summary by Directory 3.1 Important Information - "Fed Whisperer": The Fed tends to remain silent this week, and recent shocks are two-way factors [6] - Trump: Not ready to end the conflict yet, but "we will leave in the near future" [6] - Trump is angry that inviting allies to participate in escorting has received a cold response, and the US is considering withdrawing from NATO [6] - Iran's Supreme Leader rejected the proposal for peace talks with the US and insisted on defeating the US and Israel and claiming compensation [7] - The Secretary of Iran's Supreme National Security Council and the head of the Basij militia organization died. Iran has designated multiple replacement candidates for key national positions [7] - Iran launched its first attack on upstream oil and gas facilities in the UAE [8] - The Ministry of Finance will continue to implement a more proactive fiscal policy in 2026 [9] - The National Development and Reform Commission has launched a new batch of major foreign investment projects with a planned investment of $13.4 billion [10] - The US has clarified that Trump's visit to China has nothing to do with the navigation issue in the Strait of Hormuz [11] - A Japanese fishing boat illegally entered China's territorial waters near the Diaoyu Islands on March 16, and the Chinese coast guard took necessary control measures and issued a warning [11] 3.2 Futures Market Tracking - Futures Market Performance: The closing prices, settlement prices, price changes, price change rates, basis, and other data of various futures contracts such as the Shanghai 50 Index, CSI 300 Index, CSI 500 Index, and CSI 1000 Index are presented [13] - Futures Trading Volume and Open Interest: The trading volume, trading volume changes, trading value, trading value changes, open interest, open interest changes, weekly position increases, net positions, and other data of various futures contracts are provided [14] 3.3 Spot Market Tracking - Spot Market Performance: The trading value, price-earnings ratio, year-to-date change, current points, daily change rate, weekly change rate, monthly change rate, and other data of various spot market indices and sectors are presented [38] - Market Style Impact on Indexes: The impact of different market styles (cyclical, consumption, growth, finance, and stability) on the Shanghai 50 Index, CSI 300 Index, CSI 500 Index, and CSI 1000 Index is analyzed [39][40] - Index Valuation: The current valuations and historical quantiles of important indices and Shenwan sectors are presented [42][46] - Market Trading Volume and Turnover Rate: The Sunday average trading volume, Sunday average turnover rate, number of rising and falling stocks, and index trading value changes in the market are presented [48] - Stock-Bond Relative Return and Margin Trading: The stock-bond relative return, Hong Kong Stock Connect, margin trading balance, and margin trading net purchase amount and its proportion in A-share trading value are presented [49][50] 3.4 Liquidity Tracking - Central Bank Open Market Operations: The currency injection, currency withdrawal, and net currency injection of the central bank's open market operations are presented [53] - Shibor Interest Rate Level: The Shibor interest rate levels of different tenors are presented [54]