1. Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. 2. Core Viewpoints of the Report The report presents the performance of major stock indices on November 12, including their price movements, trading volumes, and the impact of sector fluctuations on these indices. It also provides data on the basis and annualized opening costs of stock index futures, as well as the point differences in futures contract roll - overs and their corresponding annualized costs. 3. Summary by Relevant Catalogs Index Trends - On November 12, the Shanghai Composite Index dropped by 0.07% to close at 4000.14 points, with a trading volume of 840.467 billion yuan. The Shenzhen Component Index declined by 0.36% to 13240.62 points, and its trading volume was 1104.567 billion yuan [1]. - The CSI 1000 Index decreased by 0.72%, with a trading volume of 390.482 billion yuan. It opened at 7520.18, closed at 7486.38, reached a high of 7537.76, and a low of 7421.46 [1]. - The CSI 500 Index fell by 0.66%, with a trading volume of 313.84 billion yuan. It opened at 7264.79, closed at 7243.25, had a high of 7305.86, and a low of 7187.87 [1]. - The SSE 50 Index rose by 0.32%, with a trading volume of 136.89 billion yuan. It opened at 3035.03, closed at 3044.3, reached a high of 3059.95, and a low of 3035.03 [1]. - The CSI 300 Index decreased by 0.13%, with a trading volume of 492.309 billion yuan. It opened at 4643.56, closed at 4645.91, had a high of 4669.61, and a low of 4620.99 [1]. Impact of Sector Movements on Index - The CSI 1000 Index dropped 54.41 points from the previous close. The household appliances sector significantly boosted the index, while machinery, electronics, and power equipment sectors pulled it down [3]. - The CSI 500 Index fell 48.36 points from the previous close. The electronics and power equipment sectors had a significant negative impact on the index [3]. - The CSI 300 Index decreased 6.26 points from the previous close. The communication, banking, and household appliances sectors pushed the index up, while the automotive, computer, and power equipment sectors pulled it down [3]. - The SSE 50 Index rose 9.67 points from the previous close. The non - banking finance, banking, and electronics sectors boosted the index, while the power equipment sector had a negative impact [3]. Basis of Stock Index Futures and Annualized Opening Costs - For IM futures, the average daily basis for IM00 was - 39.27, IM01 was - 128.83, IM02 was - 350.34, and IM03 was - 571.66 [14]. - For IC futures, the average daily basis for IC00 was - 32.77, IC01 was - 101.56, IC02 was - 273.36, and IC03 was - 465.94 [14]. - For IF futures, the average daily basis for IF00 was - 8.79, IF01 was - 24.13, IF02 was - 51.93, and IF03 was - 94.33 [14]. - For IH futures, the average daily basis for IH00 was - 2.39, IH01 was - 6.02, IH02 was - 10.81, and IH03 was - 19.79 [14]. Point Differences in Futures Contract Roll - Overs and Annualized Costs - Data for IM futures contract roll - over point differences and annualized costs are presented at different time points from 09:45 to 15:00, along with the corresponding index values of 000852.SH [29]. - Data for IC futures contract roll - over point differences and annualized costs are shown at different time points from 09:45 to 15:00, along with the corresponding index values of 000905.SH [30]. - Data for IF futures contract roll - over point differences and annualized costs are provided at different time points from 09:45 to 15:00, along with the corresponding index values of 000300.SH [26]. - Data for IH futures contract roll - over point differences and annualized costs are given at different time points from 09:45 to 15:00, along with the corresponding index values of 000016.SH [28].

1. Index Trends - On November 10, the Shanghai Composite Index rose 0.53% to close at 4018.6 points, with a trading volume of 960.589 billion yuan; the Shenzhen Component Index rose 0.18% to close at 13427.61 points, with a trading volume of 1213.865 billion yuan [1]. - The CSI 1000 Index rose 0.28%, with a trading volume of 433.798 billion yuan. Its opening price was 7568.75, closing price was 7563.25, the highest price was 7592.76, and the lowest price was 7515.68 [1]. - The CSI 500 Index rose 0.22%, with a trading volume of 371.311 billion yuan. Its opening price was 7357.34, closing price was 7343.8, the highest price was 7384.79, and the lowest price was 7289.77 [1]. - The SSE 300 Index rose 0.35%, with a trading volume of 593.977 billion yuan. Its opening price was 4688.12, closing price was 4695.05, the highest price was 4695.18, and the lowest price was 4654.21 [1]. - The SSE 50 Index rose 0.51%, with a trading volume of 139.907 billion yuan. Its opening price was 3043.51, closing price was 3053.86, the highest price was 3054.55, and the lowest price was 3030.23 [1]. 2. Impact of Sector Movements on Indexes - The CSI 1000 rose 21.37 points from the previous closing price. Sectors such as household appliances, pharmaceuticals and biotech, and basic chemicals significantly pulled the index up, while sectors like machinery, automobiles, and power equipment pulled it down [2]. - The CSI 500 rose 15.89 points from the previous closing price. Sectors such as pharmaceuticals and biotech, non - bank finance, and non - ferrous metals significantly pulled the index up, while sectors like machinery, electronics, and power equipment pulled it down [2]. - The SSE 300 rose 16.26 points from the previous closing price. Sectors such as food and beverage, non - bank finance, and banks significantly pulled the index up, while sectors like machinery, power equipment, and electronics pulled it down [2]. - The SSE 50 rose 15.51 points from the previous closing price. Sectors such as food and beverage, non - bank finance, and banks significantly pulled the index up, while sectors like machinery and electronics pulled it down [2]. 3. Stock Index Futures Basis and Annualized Opening Costs - For IM contracts, IM00 had an average daily basis of - 57.03, IM01 had - 142.23, IM02 had - 361.89, and IM03 had - 580.67 [12]. - For IC contracts, IC00 had an average daily basis of - 43.2, IC01 had - 107.51, IC02 had - 277.1, and IC03 had - 467.73 [12]. - For IF contracts, IF00 had an average daily basis of - 9.52, IF01 had - 25.0, IF02 had - 54.69, and IF03 had - 98.5 [12]. - For IH contracts, IH00 had an average daily basis of - 0.02, IH01 had - 1.49, IH02 had - 5.36, and IH03 had - 11.46 [12]. 4. Stock Index Futures Roll - over Point Differences and Annualized Costs - Data on IM, IC, IF, and IH roll - over point differences and their annualized costs are presented in the report, including detailed values at different time points [20][21][22]

1. Index Trends - On October 27, the Shanghai Composite Index rose 1.18% to close at 3996.94 points, with a trading volume of 1043.404 billion yuan. The Shenzhen Component Index rose 1.51% to close at 13489.4 points, with a trading volume of 1296.727 billion yuan [1]. - The CSI 1000 Index rose 1.03% with a trading volume of 458.17 billion yuan, opening at 7483.3, closing at 7495.38, with a daily high of 7511.41 and a low of 7430.62 [1]. - The CSI 500 Index rose 1.67% with a trading volume of 471.762 billion yuan, opening at 7336.2, closing at 7379.39, with a daily high of 7391.21 and a low of 7302.02 [1]. - The SSE 50 Index rose 0.78% with a trading volume of 185.295 billion yuan, opening at 3064.38, closing at 3069.53, with a daily high of 3078.78 and a low of 3052.4 [1]. 2. Impact of Sector Movements on Indexes - The CSI 1000 rose 76.14 points from the previous close, with sectors such as electronics and non - ferrous metals significantly pulling the index up [3]. - The CSI 500 rose 120.86 points from the previous close, with electronics and machinery equipment sectors significantly pulling the index up [3]. - The SSE 300 rose 55.34 points from the previous close, with electronics, communication, and non - ferrous metals sectors significantly pulling the index up [3]. - The SSE 50 rose 23.71 points from the previous close, with non - ferrous metals, electronics, and pharmaceutical biology sectors significantly pulling the index up [3]. 3. Stock Index Futures Basis and Annualized Opening Costs - For IM contracts, IM00 had an average daily basis of - 67.41, IM01 of - 140.07, IM02 of - 352.55, and IM03 of - 566.92 [14]. - For IC contracts, IC00 had an average daily basis of - 56.45, IC01 of - 109.06, IC02 of - 274.0, and IC03 of - 458.33 [14]. - For IF contracts, IF00 had an average daily basis of - 12.11, IF01 of - 25.64, IF02 of - 54.36, and IF03 of - 94.0 [14]. - For IH contracts, IH00 had an average daily basis of 0.46, IH01 of 0.61, IH02 of 1.85, and IH03 of 0.51 [14]. 4. Stock Index Futures Roll - over Point Differences and Annualized Costs - Data on IM roll - over point differences and their annualized costs are presented in relevant charts and tables, showing values at different time points [23][28]. - Data on IC roll - over point differences and their annualized costs are provided, including values like IC00 - 01, IC00 - 02, etc. at various times [24][25]. - Data on IF roll - over point differences and their annualized costs are given, with details at different time intervals [29]. - Data on IH roll - over point differences and their annualized costs are shown, including values such as IH00 - 01, IH00 - 02 at different times [26][27].

1. Index Trends - On October 23, the Shanghai Composite Index rose 0.22% to close at 3,922.41 points with a trading volume of 718.931 billion yuan; the Shenzhen Component Index rose 0.22% to close at 13,025.45 points with a trading volume of 924.978 billion yuan [1] - The CSI 1000 Index fell 0.06% with a trading volume of 328.575 billion yuan, opening at 7,292.39, closing at 7,308.1, with a daily high of 7,319.55 and a low of 7,192.42 [1] - The CSI 500 Index rose 0.2% with a trading volume of 286.304 billion yuan, opening at 7,108.85, closing at 7,142.95, with a daily high of 7,153.66 and a low of 7,022.29 [1] - The SSE 50 Index rose 0.56% with a trading volume of 121.208 billion yuan, opening at 3,002.0, closing at 3,026.9, with a daily high of 3,030.8 and a low of 2,985.43 [1] - The SSE 300 Index rose 0.3% with a trading volume of 420.8 billion yuan, opening at 4,578.7, closing at 4,606.34, with a daily high of 4,611.34 and a low of 4,541.69 [1] 2. Impact of Sector Movements on Indexes - The CSI 1000 rose -4.11 points compared to the previous close. Computer, coal, and power equipment sectors had a significant upward pull, while machinery, electronics, and pharmaceutical sectors had a downward pull [3] - The CSI 500 rose 14.47 points compared to the previous close. Computer, non - bank finance, and non - ferrous metals sectors had a significant upward pull, while automobile, electronics, and pharmaceutical sectors had a downward pull [3] - The SSE 300 rose 13.77 points compared to the previous close. Non - bank finance, bank, and power equipment sectors had a significant upward pull, while communication and electronics sectors had a downward pull [3] - The SSE 50 rose 16.8 points compared to the previous close. Bank, non - bank finance, and non - ferrous metals sectors had a significant upward pull, while the electronics sector had a downward pull [3] 3. Futures Basis and Annualized Opening Costs - IM00 average daily basis was -89.61, IM01 was -165.46, IM02 was -377.02, IM03 was -590.15 [13] - IC00 average daily basis was -73.27, IC01 was -129.89, IC02 was -291.47, IC03 was -470.15 [13] - IF00 average daily basis was -19.56, IF01 was -32.81, IF02 was -59.4, IF03 was -98.58 [13] - IH00 average daily basis was -5.81, IH01 was -5.96, IH02 was -5.77, IH03 was -7.96 [13] 4. Futures Roll - over Point Differences and Annualized Costs - For IM, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IM00 - 01 was -73.02267, IM00 - 02 was -259.4522, etc [26] - For IC, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IC00 - 01 was -68.64222, IC00 - 02 was -225.568, etc [23] - For IF, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IF00 - 01 was -12.31678, IF00 - 02 was -41.14122, etc [27] - For IH, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IH00 - 01 was 1.4593333, IH00 - 02 was 1.3637778, etc [25]

Group 1: Index Trends - On October 15th, the Shanghai Composite Index rose 1.22% to close at 3912.21 points, with a trading volume of 961.552 billion yuan; the Shenzhen Component Index rose 1.73% to close at 13118.75 points, with a trading volume of 1111.306 billion yuan [1]. - The CSI 1000 Index rose 1.5% with a trading volume of 403.798 billion yuan, opening at 7384.01, closing at 7483.45, with a daily high of 7484.05 and a low of 7315.48 [1]. - The CSI 500 Index rose 1.38% with a trading volume of 397.459 billion yuan, opening at 7205.74, closing at 7294.0, with a daily high of 7294.0 and a low of 7153.42 [1]. - The SSE 50 Index rose 1.36% with a trading volume of 157.106 billion yuan, opening at 2962.75, closing at 3001.35, with a daily high of 3003.0 and a low of 2958.45 [1]. - The SSE 300 Index rose 1.48% with a trading volume of 607.326 billion yuan, opening at 4544.24, closing at 4606.29, with a daily high of 4608.82 and a low of 4526.83 [1]. Group 2: Impact of Sector Movements on Indexes - The CSI 1000 rose 110.3 points from the previous close, with sectors such as electronics, power equipment, and pharmaceutical biology significantly pulling up the index [3]. - The CSI 500 rose 99.15 points from the previous close, with electronics, power equipment, and pharmaceutical biology sectors significantly pulling up the index [3]. - The SSE 300 rose 67.23 points from the previous close, with electronics, power equipment, and non - bank finance sectors significantly pulling up the index [3]. - The SSE 50 rose 40.25 points from the previous close, with non - bank finance, non - ferrous metals, and electronics sectors significantly pulling up the index [3]. Group 3: Stock Index Futures Basis and Annualized Opening Costs - IM00 average daily basis was - 10.46, IM01 was - 103.63, IM02 was - 188.68, IM03 was - 409.38 [12]. - IC00 average daily basis was - 8.59, IC01 was - 90.05, IC02 was - 145.37, IC03 was - 306.52 [12]. - IF00 average daily basis was - 1.45, IF01 was - 15.46, IF02 was - 25.74, IF03 was - 47.9 [12]. - IH00 average daily basis was 0.53, IH01 was - 2.86, IH02 was - 2.45, IH03 was - 1.31 [12]. Group 4: Stock Index Futures Roll - over Point Differences and Annualized Costs - For IM, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IM00 - 01 was - 73.02267, IM00 - 02 was - 259.4522, etc. [28]. - For IC, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IC00 - 01 was - 68.64222, IC00 - 02 was - 225.568, etc. [29]. - For IF, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IF00 - 01 was - 12.31678, IF00 - 02 was - 41.14122, etc. [24]. - For IH, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IH00 - 01 was 0.707, IH00 - 02 was 1.4593333, etc. [25].

Index Trends - On September 29, the Shanghai Composite Index rose 0.9% to close at 3862.53 points with a turnover of 968.212 billion yuan; the Shenzhen Component Index rose 2.05% to close at 13479.43 points with a turnover of 1193.249 billion yuan [1]. - The CSI 1000 Index rose 1.36% with a turnover of 419.535 billion yuan, opening at 7415.13, closing at 7497.83, with a daily high of 7517.12 and a low of 7376.91 [1]. - The CSI 500 Index rose 1.51% with a turnover of 433.864 billion yuan, opening at 7251.52, closing at 7350.56, with a daily high of 7377.22 and a low of 7216.74 [1]. - The SSE 50 Index rose 1.09% with a turnover of 189.969 billion yuan, opening at 2940.04, closing at 2973.04, with a daily high of 3000.48 and a low of 2922.01 [1]. - The SSE 300 Index rose 1.54% with a turnover of 693.395 billion yuan, opening at 4555.03, closing at 4620.05, with a daily high of 4647.57 and a low of 4541.43 [1]. Impact of Sector Movements on Indexes - The CSI 1000 rose 100.24 points from the previous close, with sectors such as electronics, power equipment, and non - ferrous metals significantly pulling the index up [2]. - The CSI 500 rose 109.65 points from the previous close, with sectors such as electronics, non - bank finance, and power equipment significantly pulling the index up [2]. - The SSE 300 rose 70.0 points from the previous close, with sectors such as non - bank finance, power equipment, and non - ferrous metals significantly pulling the index up [2]. - The SSE 50 rose 32.02 points from the previous close, with sectors such as non - ferrous metals, non - bank finance, and electronics significantly pulling the index up, while the banking sector pulled it down [2]. Futures Basis and Annualized Opening Costs - For IM futures, IM00 had an average daily basis of - 33.34, IM01 of - 117.12, IM02 of - 191.69, and IM03 of - 412.21 [12]. - For IC futures, IC00 had an average daily basis of - 31.0, IC01 of - 100.17, IC02 of - 150.99, and IC03 of - 329.66 [12]. - For IF futures, IF00 had an average daily basis of - 5.02, IF01 of - 17.61, IF02 of - 23.81, and IF03 of - 50.41 [12]. - For IH futures, IH00 had an average daily basis of 1.54, IH01 of 0.15, IH02 of 1.98, and IH03 of 0.3 [12]. Futures Roll - over Point Differences and Annualized Costs - Various data on the roll - over point differences and their annualized costs for IM, IC, IF, and IH futures are presented in the report, including values at different time points such as 09:45, 10:00, etc. For example, for IM futures at 09:45, IM00 - 01 was - 73.02267, IM00 - 02 was - 259.4522, etc. [23][25][26]

1. Index Trends - On September 25th, the Shanghai Composite Index had a change of -0.01%, closing at 3853.3 points with a trading volume of 1001.211 billion yuan; the Shenzhen Component Index had a change of 0.67%, closing at 13445.9 points with a trading volume of 1369.879 billion yuan [1]. - The CSI 1000 Index had a change of -0.37% and a trading volume of 464.745 billion yuan, with an opening price of 7521.32, a closing price of 7506.51, a daily high of 7563.08, and a low of 7487.12 [1]. - The CSI 500 Index had a change of 0.24% and a trading volume of 493.047 billion yuan, with an opening price of 7325.66, a closing price of 7341.32, a daily high of 7379.61, and a low of 7312.35 [1]. - The SSE 300 Index had a change of 0.6% and a trading volume of 669.867 billion yuan, with an opening price of 4563.98, a closing price of 4593.49, a daily high of 4613.95, and a low of 4558.84 [1]. - The SSE 50 Index had a change of 0.45% and a trading volume of 158.667 billion yuan, with an opening price of 2944.73, a closing price of 2952.74, a daily high of 2962.18, and a low of 2941.87 [1]. 2. Impact of Sector Movements on Indexes - The CSI 1000 Index rose -27.71 points from the previous closing price. Media and communication sectors significantly pulled the index up, while basic chemicals, machinery, and electronics sectors pulled it down [3]. - The CSI 500 Index rose 17.61 points from the previous closing price. Computer, machinery, and electronics sectors significantly pulled the index up, while the non - banking financial sector pulled it down [3]. - The SSE 300 Index rose 27.42 points from the previous closing price. Power equipment, non - ferrous metals, and communication sectors significantly pulled the index up, while the banking sector pulled it down [3]. - The SSE 50 Index rose 13.23 points from the previous closing price. Non - ferrous metals, pharmaceutical biology, and electronics sectors significantly pulled the index up, while food and beverage and banking sectors pulled it down [3]. 3. Futures Basis and Annualized Opening Costs - IM00 had an average daily basis of -69.91, IM01 of -156.48, IM02 of -236.36, and IM03 of -449.96 [13]. - IC00 had an average daily basis of -51.53, IC01 of -122.3, IC02 of -177.77, and IC03 of -356.12 [13]. - IF00 had an average daily basis of -8.53, IF01 of -24.0, IF02 of -33.81, and IF03 of -65.69 [13]. - IH00 had an average daily basis of 2.04, IH01 of -0.05, IH02 of 1.44, and IH03 of -0.53 [13]. 4. Futures Roll - over Point Differences and Annualized Costs - For IM, from 09:45 to 15:00, there were data on point differences and annualized costs for different roll - over combinations (e.g., IM00 - 01, IM00 - 02, etc.) [21]. - For IC, from 09:45 to 15:00, there were data on point differences and annualized costs for different roll - over combinations (e.g., IC00 - 01, IC00 - 02, etc.) [23]. - For IF, from 09:45 to 15:00, there were data on point differences and annualized costs for different roll - over combinations (e.g., IF00 - 01, IF00 - 02, etc.) [24]. - For IH, from 09:45 to 15:00, there were data on point differences and annualized costs for different roll - over combinations (e.g., IH00 - 01, IH00 - 02, etc.) [26].

1. Report Industry Investment Rating - No relevant information provided 2. Core Views of the Report - The report presents the index trends, the impact of sector fluctuations on indices, the basis and annualized opening costs of stock index futures, and the point differences and annualized costs of stock index futures roll - over on September 3rd [1][2][12][19] 3. Summary by Relevant Catalogs 3.1 Index Trends - On September 3rd, the Shanghai Composite Index fell 1.16% to 3813.56 points with a trading volume of 1012.296 billion yuan; the Shenzhen Component Index fell 0.65% to 12472.0 points with a trading volume of 1351.79 billion yuan [1] - The CSI 1000 Index fell 1.46% with a trading volume of 486.667 billion yuan; the CSI 500 Index fell 1.34% with a trading volume of 449.58 billion yuan; the SSE 50 Index fell 1.07% with a trading volume of 161.065 billion yuan; the CSI 300 Index fell 0.68% with a trading volume of 655.697 billion yuan [1] 3.2 Impact of Sector Fluctuations on Indices - The CSI 1000 dropped 107.0 points compared to the previous closing price, and sectors such as non - ferrous metals, national defense and military industry, and computer significantly pulled the index down [2] - The CSI 500 dropped 93.23 points compared to the previous closing price, and sectors such as computer, non - bank finance, and national defense and military industry significantly pulled the index down [2] - The CSI 300 dropped 30.62 points compared to the previous closing price. Sectors such as power equipment and communication significantly pulled the index up, while sectors such as banks, electronics, and non - bank finance significantly pulled the index down [2] - The SSE 50 dropped 31.89 points compared to the previous closing price. Sectors such as pharmaceutical biology significantly pulled the index up, while sectors such as banks, electronics, and non - bank finance significantly pulled the index down [2] 3.3 Stock Index Futures Basis and Annualized Opening Costs - For IM contracts, IM00 had an average daily basis of - 72.73, IM01 had - 133.83, IM02 had - 271.16, and IM03 had - 448.11 [12] - For IC contracts, IC00 had an average daily basis of - 79.74, IC01 had - 130.22, IC02 had - 237.48, and IC03 had - 382.87 [12] - For IF contracts, IF00 had an average daily basis of - 16.61, IF01 had - 23.0, IF02 had - 42.88, and IF03 had - 63.45 [12] - For IH contracts, IH00 had an average daily basis of - 4.99, IH01 had - 5.58, IH02 had - 6.58, and IH03 had - 4.13 [12] 3.4 Stock Index Futures Roll - over Point Differences and Annualized Costs - The report provides the point differences and annualized costs of roll - over for IM, IC, IF, and IH contracts at different time points, such as for the IF contract, at 09:45, the point differences between different contracts (e.g., IF00 - 01 was - 12.31678) are presented [20][21][23][24][25]

1. Report Industry Investment Rating There is no information about the report industry investment rating in the content. 2. Core Viewpoints of the Report The report provides a daily tracking of stock index futures data on September 2, 2025, including the index trends, the impact of sector fluctuations on the indices, the basis and annualized opening costs of stock index futures, and the points differences and annualized costs of stock index futures roll - over [1]. 3. Summary by Relevant Catalogs 3.1 Index Trends - On September 2, the Shanghai Composite Index fell 0.45% to close at 3858.13 points, with a trading volume of 1222.778 billion yuan; the Shenzhen Component Index fell 2.14% to close at 12553.84 points, with a trading volume of 1652.214 billion yuan [1]. - The CSI 1000 Index fell 2.5% with a trading volume of 598.514 billion yuan, opening at 7498.44, closing at 7313.88, with a daily high of 7499.6 and a low of 7258.59 [1]. - The CSI 500 Index fell 2.09% with a trading volume of 541.494 billion yuan, opening at 7108.94, closing at 6961.69, with a daily high of 7108.94 and a low of 6909.72 [1]. - The SSE 50 Index rose 0.39% with a trading volume of 196.061 billion yuan, opening at 2983.72, closing at 2992.88, with a daily high of 3006.46 and a low of 2967.52 [1]. - The SSE 50 Index rose 0.39% with a trading volume of 196.061 billion yuan, opening at 2983.72, closing at 2992.88, with a daily high of 3006.46 and a low of 2967.52 [1]. 3.2 Impact of Sector Fluctuations on the Indices - The CSI 1000 Index dropped 187.27 points from the previous closing price, and sectors such as communication, computer, and electronics significantly pulled the index down [3]. - The CSI 500 Index dropped 148.6 points from the previous closing price, and sectors such as computer and electronics significantly pulled the index down [3]. - The SSE 300 Index dropped 33.26 points from the previous closing price. Sectors such as banks significantly pulled the index up, while sectors such as computer, communication, and electronics pulled it down [3]. - The SSE 50 Index rose 11.68 points from the previous closing price. Sectors such as banks, food and beverage, and petroleum and petrochemicals significantly pulled the index up, while sectors such as non - bank finance and electronics pulled it down [3]. 3.3 Basis and Annualized Opening Costs of Stock Index Futures - For IM contracts, IM00 had an average daily basis of - 79.56, IM01 had - 138.59, IM02 had - 271.34, and IM03 had - 446.93 [14]. - For IC contracts, IC00 had an average daily basis of - 74.3, IC01 had - 122.99, IC02 had - 224.75, and IC03 had - 369.83 [14]. - For IF contracts, IF00 had an average daily basis of - 10.05, IF01 had - 15.77, IF02 had - 30.9, and IF03 had - 51.13 [14]. - For IH contracts, IH00 had an average daily basis of - 0.65, IH01 had - 2.19, IH02 had - 1.79, and IH03 had - 0.25 [14]. 3.4 Points Differences and Annualized Costs of Stock Index Futures Roll - over - The document provides the 15 - minute average points differences and their annualized costs for IM, IC, IF, and IH contracts' roll - over, including data such as IM00 - 01, IM00 - 02, etc. for different time points from 09:45 to 15:00 [23][25][27][26].

Group 1 - The market experienced significant volatility, with the Shanghai Composite Index rising by 1.5% in one trading day and a trading volume nearing 3.2 trillion [1] - The market is currently characterized by large capital movements from institutions such as foreign capital, state-owned financial institutions, and insurance funds, leading to substantial fluctuations in major indices [3] - The A-share market has shown signs of overheating, necessitating a cooling period, although the Shanghai Composite Index may continue to rise, potentially reaching between 3900 and 4000 points around September 3 [5] Group 2 - The current market sentiment is increasingly euphoric, which raises concerns about potential risks, but there is no immediate need for significant reduction in positions [5] - Investors are advised to have a clear exit strategy in place, particularly if the market falls below 3800 or 3900 points, to secure profits [5] - The market is described as a structural bull market rather than a comprehensive one, emphasizing the importance of a personalized trading plan [7]