Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints of the Report - The short - term view of the stock index futures is wide - range oscillation, and the medium - term view is upward. The core logic is the game between the profit - taking intention of funds and the expectation of policy benefits [1][4]. Group 3: Summary by Related Catalogs Variety Viewpoint Reference - Financial Futures Stock Index Sector - For IH2512, the short - term view is oscillation, the medium - term view is upward, the intraday view is oscillation with a strong bias, and the overall view is wide - range oscillation. The core logic is the game between the profit - taking intention of funds and the expectation of policy benefits [1]. Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The intraday view of IF, IH, IC, and IM is oscillation with a strong bias, the medium - term view is upward, and the reference view is wide - range oscillation. Last Friday, all stock indexes oscillated and rose. The trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 19916 billion yuan, an increase of 3309 billion yuan from the previous day. Policy support for the technology industry is expected due to the goals of the 14th Five - Year Plan, and the external uncertainty has eased after the Sino - US economic and trade consultations. However, the marginal expectation of incremental policy benefits will slow down, and there is still an intention for profit - taking. In the short term, the stock index is expected to be mainly in wide - range oscillation [4].

每经AI快讯，周五（10月24日）纽约尾盘，标普500股指期货最终涨0.79%，道指期货涨0.99%，纳斯达 克100股指期货涨1.05%。罗素2000股指期货涨1.09%。 （文章来源：每日经济新闻） ...

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]

（文章来源：每日经济新闻） 每经AI快讯，周四（10月23日）纽约尾盘，标普500股指期货最终涨0.63%，道指期货涨0.23%，纳斯达 克100股指期货涨0.97%。罗素2000股指期货涨1.25%。 ...

Company News - Airbus, Thales Group, and Leonardo Company have signed an agreement to collaborate on satellite development [2] - Blackstone Group reported Q3 2025 revenue of $3.089 billion, down from $3.663 billion in the same period last year [2] - Honeywell's stock rose over 4% in pre-market trading, with Q3 revenue reported at $10.41 billion [2]

1. Report's Industry Investment Rating - No relevant information provided 2. Core View of the Report - On October 23, 2025, the main contracts of stock index futures IF2512, IH2512, IC2512, and IM2512 opened slightly lower. During the day, they are expected to show weak and volatile trends with specific support and resistance levels [2][7][8][9][10] 3. Summary by Relevant Catalogs 3.1 Market Outlook Highlights - On October 23, the main contracts of stock index futures IF2512 and IH2512 opened slightly lower and oscillated downward slightly, while IC2512 and IM2512 oscillated downward. The expected intraday support and resistance levels for each contract are as follows: IF2512 (support: 4498 and 4485 points; resistance: 4563 and 4578 points), IH2512 (support: 2972 and 2963 points; resistance: 3014 and 3019 points), IC2512 (support: 6863 and 6840 points; resistance: 7000 and 7054 points), IM2512 (support: 6995 and 6938 points; resistance: 7163 and 7201 points) [2] 3.2 Macroeconomic and Stock Market News - Trump expects to reach a good trade agreement with China during the APEC leaders' informal meeting next week, but the meeting may be cancelled. The Chinese Foreign Ministry responded that there is no information to provide currently [3] - Chinese Minister of Commerce Wang Wentao met with Airbus CEO Guillaume Faury to discuss cooperation. Wang hopes Airbus will strengthen cooperation with China based on the second A320 assembly line in Tianjin [3] - The National Bureau of Statistics released September unemployment data: 16 - 24 years old (17.7%), 25 - 29 years old (7.2%), 30 - 59 years old (3.9%) [3] - Shenzhen launched an action plan to promote high - quality M&A, aiming to complete over 200 M&A projects with a total transaction value over 100 billion yuan by the end of 2027. It also proposes to explore inter - connectivity between the Shenzhen and Hong Kong stock exchanges in M&A and equity - debt financing mechanisms [3] - As of October 21, the US federal government debt exceeded $38 trillion, just over two months after reaching $37 trillion in mid - August [4] - The US government shutdown has lasted 22 days, and it may continue until November and exceed the 35 - day record [6] - Trump cancelled the meeting with Putin in Budapest. The US also imposed sanctions on Russia's largest oil producer [6] - The EU approved the 19th round of sanctions against Russia, including a ban on importing Russian liquefied natural gas [6] 3.3 Technical Analysis and Market Outlook - On October 23, IF2512 opened slightly lower, rebounded but was blocked and then oscillated downward. It is expected to show a weak and volatile trend during the day, with support at 4498 and 4485 points, and resistance at 4563 and 4578 points. In October 2025, it is likely to have a weak and wide - range oscillation, with support at 4426 and 4307 points, and resistance at 4750 and 4850 points [7][8][10] - IH2512 opened slightly lower, rebounded but was blocked and then oscillated downward slightly. It is expected to have a weak and volatile trend during the day, with support at 2972 and 2963 points, and resistance at 3014 and 3019 points. In October 2025, it is likely to have a wide - range oscillation, with support at 2908 and 2872 points, and resistance at 3050 and 3117 points [8][9][10] - IC2512 opened slightly lower and oscillated downward. It is expected to have a weak and volatile trend during the day, with support at 6863 and 6840 points, and resistance at 7000 and 7054 points. In October 2025, it is likely to have a weak and wide - range oscillation, with support at 6789 and 6565 points, and resistance at 7550 and 7680 points [9][10][11] - IM2512 opened slightly lower and oscillated downward. It is expected to have a weak and volatile trend during the day, with support at 6995 and 6938 points, and resistance at 7163 and 7201 points. In October 2025, it is likely to have a weak and wide - range oscillation, with support at 6976 and 6800 points, and resistance at 7550 and 7660 points [10][12]

Group 1: Report Industry Investment Rating - Not provided Group 2: Report's Core View - The short - term trend of stock index futures is expected to be mainly wide - range fluctuations. The mid - term view is upward, and the intraday view is oscillating and strengthening. The main reason is that the willingness of funds to take profits and the expectation of policy benefits are in a game, and the rhythm change of this game will dominate the intraday and annual trends of the stock index [4]. Group 3: Summary According to Relevant Catalogs Variety View Reference - Financial Futures Stock Index Sector - For IH2512, the short - term trend is oscillating, the mid - term is rising, the intraday is oscillating and strengthening, and the overall view is wide - range fluctuations. The core logic is the game between the willingness of funds to take profits and the expectation of policy benefits [1]. Main Variety Price Quotation Driving Logic - Financial Futures Stock Index Sector - The intraday view of IF, IH, IC, and IM is oscillating and strengthening, the mid - term view is rising, and the reference view is wide - range fluctuations. Yesterday, each stock index was in a narrow - range oscillating arrangement. The full - day trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 1690.3 billion yuan, a reduction of 202.4 billion yuan compared with the previous day. The shrinking trading volume indicates that the market sentiment is cautious. The uncertainty risk of Sino - US tariffs has cooled, but there is still a possibility of changes in the medium and long term. The valuation level of stocks has increased significantly, the marginal expectation of incremental policy benefits at the end of the year has slowed down, and there is still a demand for taking profits. In the short term, the game between the willingness of funds to take profits and the expectation of policy benefits will dominate the stock index trend within the year [4].

（文章来源：每日经济新闻） 每经AI快讯，周三（10月22日）纽约尾盘，标普500股指期货最终跌0.51%，道指期货跌0.84%，纳斯达 克100股指期货跌0.97%。罗素2000股指期货跌1.40%。 ...

Report Information - Report Title: Stock Index Futures Data Daily Report [1] - Report Date: October 22, 2025 [2] IM Futures Daily Quotes - The closing price of CSI 1000 was 7312.21 points, down 0.43%. The trading volume was 22,732 lots, down 4%, and the trading value was 33.22 billion yuan, down 5% [3]. - The closing price of IM2511 was 7237.20 points, down 0.49%. The trading volume was 35,068 lots, down 22%, and the trading value was 5.08 billion yuan, down 22%. The open interest was 68,005 lots, down 4,046 lots [3]. - The closing price of IM2512 was 7163.20 points, down 0.50%. The trading volume was 120,919 lots, down 20%, and the trading value was 17.32 billion yuan, down 20%. The open interest was 180,451 lots, down 10,035 lots [3]. - The closing price of IM2603 was 6947.20 points, down 0.51%. The trading volume was 18,115 lots, down 32%, and the trading value was 2.52 billion yuan, down 32%. The open interest was 78,082 lots, down 2,049 lots [3]. - The closing price of IM2606 was 6736.00 points, down 0.51%. The trading volume was 8,259 lots, down 21%, and the trading value was 1.11 billion yuan, down 21%. The open interest was 15,098 lots, up 2,464 lots [3]. Market Summary - The main contract of IM fell 0.5%, closing at 7163.2 points. The total trading volume of the four contracts was 182,361 lots, down 50,712 lots from the previous day. The total open interest was 341,636 lots, down 13,666 lots from the previous day [5]. - The main contract of IM was at a discount of 149.01 points, up 12.24 points from the previous day. The annualized basis rate was -12.87% [5]. - The dividend impacts of the four contracts were 1.12 points, 1.15 points, 1.75 points, and 46.49 points respectively [5]. Main Seats - For IM2511, the top five seats had a total trading volume of 106,651 lots, down 25,677 lots; the total long positions were 66,989 lots, down 6,809 lots; and the total short positions were 85,506 lots, down 6,255 lots [18]. - For IM2512, the top five seats had a total trading volume of 20,192 lots, down 7,829 lots; the total long positions were 30,143 lots, down 840 lots; and the total short positions were 39,197 lots, down 805 lots [22]. IF Futures Daily Quotes - The closing price of CSI 300 was 4592.57 points, down 0.33%. The trading volume was 18,533 lots, down 14%, and the trading value was 44.09 billion yuan, down 20% [23]. - The closing price of IF2511 was 4574.00 points, down 0.45%. The trading volume was 21,714 lots, down 27%, and the trading value was 2.98 billion yuan, down 27%. The open interest was 38,677 lots, down 3,011 lots [23]. - The closing price of IF2512 was 4563.40 points, down 0.46%. The trading volume was 65,140 lots, down 16%, and the trading value was 8.91 billion yuan, down 16%. The open interest was 151,558 lots, down 6,000 lots [23]. - The closing price of IF2603 was 4537.00 points, down 0.44%. The trading volume was 8,023 lots, down 37%, and the trading value was 1.09 billion yuan, down 37%. The open interest was 55,037 lots, down 1,150 lots [23]. - The closing price of IF2606 was 4500.20 points, down 0.45%. The trading volume was 2,057 lots, down 30%, and the trading value was 0.28 billion yuan, down 30%. The open interest was 4,041 lots, up 708 lots [23]. Market Summary - The main contract of IF fell 0.46%, closing at 4563.4 points. The total trading volume of the four contracts was 96,934 lots, down 25,532 lots from the previous day. The total open interest was 249,313 lots, down 9,453 lots from the previous day [24]. - The main contract of IF was at a discount of 29.17 points, up 1.1 points from the previous day. The annualized basis rate was -3.95% [24]. - The dividend impacts of the four contracts were 4.27 points, 5.11 points, 10.34 points, and 40.82 points respectively [24]. Main Seats - For IF2511, the top five seats had a total trading volume of 24,250 lots, down 7,555 lots; the total long positions were 19,300 lots, down 1,683 lots; and the total short positions were 20,538 lots, down 1,748 lots [37]. - For IF2512, the top five seats had a total trading volume of 60,343 lots, down 7,531 lots; the total long positions were 62,955 lots, down 3,925 lots; and the total short positions were 67,929 lots, down 1,931 lots [39]. IC Futures Daily Quotes - The closing price of CSI 500 was 7128.48 points, down 0.80%. The trading volume was 16,974 lots, down 18%, and the trading value was 28.62 billion yuan, down 17% [43]. - The closing price of IC2511 was 7065.00 points, down 0.81%. The trading volume was 23,265 lots, down 30%, and the trading value was 3.29 billion yuan, down 30%. The open interest was 45,760 lots, down 4,745 lots [43]. - The closing price of IC2512 was 7011.60 points, down 0.80%. The trading volume was 68,879 lots, down 23%, and the trading value was 9.66 billion yuan, down 23%. The open interest was 131,680 lots, down 8,301 lots [43]. - The closing price of IC2603 was 6849.00 points, down 0.80%. The trading volume was 12,798 lots, down 27%, and the trading value was 1.75 billion yuan, down 27%. The open interest was 51,376 lots, down 643 lots [43]. - The closing price of IC2606 was 6683.00 points, down 0.58%. The trading volume was 4,297 lots, down 25%, and the trading value was 0.57 billion yuan, down 25%. The open interest was 7,623 lots, up 1,052 lots [43]. Market Summary - The main contract of IC fell 0.8%, closing at 7011.6 points. The total trading volume of the four contracts was 109,239 lots, down 36,408 lots from the previous day. The total open interest was 236,439 lots, down 12,637 lots from the previous day [44]. - The main contract of IC was at a discount of 116.88 points, up 15.94 points from the previous day. The annualized basis rate was -10.31% [44]. - The dividend impacts of the four contracts were 2.48 points, 2.56 points, 4.7 points, and 61.33 points respectively [44]. Main Seats - For IC2511, the top five seats had a total trading volume of 67,839 lots, down 18,700 lots; the total long positions were 54,199 lots, down 5,969 lots; and the total short positions were 62,660 lots, down 5,635 lots [58]. - For IC2512, the top five seats had a total trading volume of 15,118 lots, down 5,088 lots; the total long positions were 22,161 lots, up 149 lots; and the total short positions were 27,575 lots, down 646 lots [62]. IH Futures Daily Quotes - The closing price of SSE 50 was 3010.10 points, up 0.09%. The trading volume was 5,142 lots, down 7%, and the trading value was 12.38 billion yuan, down 16% [64]. - The closing price of IH2511 was 3003.60 points, down 0.13%. The trading volume was 11,040 lots, down 14%, and the trading value was 0.99 billion yuan, down 15%. The open interest was 14,291 lots, down 219 lots [64]. - The closing price of IH2512 was 3005.60 points, down 0.06%. The trading volume was 31,434 lots, down 11%, and the trading value was 2.83 billion yuan, down 11%. The open interest was 59,769 lots, down 2,561 lots [64]. - The closing price of IH2603 was 3005.20 points, down 0.09%. The trading volume was 3,566 lots, down 16%, and the trading value was 0.32 billion yuan, down 16%. The open interest was 13,098 lots, down 338 lots [64]. - The closing price of IH2606 was 3004.40 points, down 0.06%. The trading volume was 1,049 lots, down 6%, and the trading value was 0.09 billion yuan, down 6%. The open interest was 1,315 lots, up 283 lots [64]. Market Summary - The main contract of IH fell 0.06%, closing at 3005.6 points. The total trading volume of the four contracts was 47,089 lots, down 6,344 lots from the previous day. The total open interest was 88,473 lots, down 2,835 lots from the previous day [64]. - The main contract of IH was at a discount of 4.5 points, down 2.04 points from the previous day. The annualized basis rate was -0.93% [65]. - The dividend impacts of the four contracts were 5.19 points, 6.04 points, 12.07 points, and 31.3 points respectively [65]. Main Seats - For IH2511, the top five seats had a total trading volume of 28,426 lots, down 3,572 lots; the total long positions were 21,934 lots, down 650 lots; and the total short positions were 32,918 lots, down 1,657 lots [74]. - For IH2512, the top five seats had a total trading volume of 12,090 lots, down 2,502 lots; the total long positions were 7,249 lots, down 148 lots; and the total short positions were 8,061 lots, up 117 lots [76].

Market Performance - On Tuesday, October 21, the S&P 500 futures closed flat, while the Dow Jones futures increased by 0.52% and the Nasdaq 100 futures decreased by 0.16% [1] - The Russell 2000 futures fell by 0.52% [1]