股指延续中国红: 申万期货早间评论-20251202

Group 1: Key Events and Developments - French President Macron will visit China from December 3 to 5 at the invitation of President Xi Jinping [1] - The new China-Russia bilateral investment agreement will officially take effect on December 1, consisting of 20 articles covering investment protection, promotion, facilitation, and dispute resolution [1] - Silver prices have surged to a historical high, with spot silver reaching $58 per ounce for the first time, peaking at $58.84 [1] Group 2: Commodity Insights - Crude Oil: SC night trading rose by 0.04%. There are mixed sentiments regarding the potential restart of peace talks in Ukraine. The International Energy Agency reported that the daily supply of crude oil from nine OPEC countries in October was 23.77 million barrels, a decrease of 180,000 barrels from September [2][14] - Copper: Night trading for copper saw an increase. Supply remains tight, and smelting profits are at breakeven, but smelting output continues to grow. The National Bureau of Statistics indicates positive growth in power grid investment, while real estate remains weak [2][19] - Zinc: Night trading for zinc also increased. Zinc concentrate processing fees have declined, and while supply is tight, smelting output continues to rise. Overall, the supply-demand situation for zinc is balanced, with potential fluctuations expected [20] Group 3: Market Trends and Analysis - The U.S. stock indices fell, with the previous trading day seeing a rebound led by the non-ferrous metals sector. The market turnover was 1.89 trillion yuan, and financing balances increased by 1.484 billion yuan to 24,565 billion yuan [3][11] - The 10-year government bond yield has decreased to 1.825%, with the central bank conducting a net withdrawal of 231.1 billion yuan through reverse repos [12][13] - The market is expected to see a balanced style as the year-end approaches, with cautious funding and potential incremental policies to support the economy [3][11]