广发期货研究所 电 话：020-88830760 E-Mail：zhaoliang@gf.com.cn 目录： 股指期货持仓日度跟踪 投资咨询业务资格： 股指期货： IF、IH、IC、IM | 品种 | | 主力合 约 | 总持仓点评 | 前二十席位重要变动 | | --- | --- | --- | --- | --- | | 沪深 | 300 | IF2506 | 总持仓下降 | 国君多空头各减仓超 1000 手 | | 上证 | 50 | IH2506 | 总持仓下降 | 前二十席位多空头均以减仓为主 | | 中证 | 500 | IC2506 | 总持仓下降 | 前二十席位多空头均以减仓为主 | | 中证 | 1000 | IM2506 | 总持仓明显下降 | 前二十席位多空头均以减仓为主 | 股指期货持仓日度变动简评 -10,523.0 -4,562.0 -5,278.0 -11,259.0 -9,159.0 -5,458.0 -5,580.0 -11,992.0 -14,000 -12,000 -10,000 -8,000 -6,000 -4,000 -2,000 0 IF IH IC IM 主力 ...

@ JIN10.COM 金十数据 | 一个交易工具 全球最大黄金ETF--SPDR Gold Trust持仓较上日增加3.15吨，当前持仓量为925.61吨。 2025-05-09 -1.74吨 +2.01吨 2025-05-08 2025-05-07 -0.29吨 -1.43吨 2025-05-06 2025-05-05 -4.87吨 0 -3 3 6 -6 -d 减仓 增仓 注:ETF持仓数据于北京时间周二至周六凌晨5点30分左右更新,数据为上 一日的持仓情况。 ...

金十图示：2025年05月29日（周四）白银ETF持仓报告 2025-05-02 +5.5414 2025-05-01-141.44吨 +21.21吨 2025-04-30 +73.56吨 2025-04-29 +100.43吨 2025-04-28 0 -100 -50 50 100 150 增仓 减仓 -150 @ JIN10.COM 金十数据 | 一个交易工具 注:ETF持仓数据于北京时间周二至周六凌晨5点30分左右更新,数据为上 一日的持仓情况。 ...

市场分析 2025年5月27日，碳酸锂主力合约2507开于59940元/吨，收于60920元/吨，当日收盘价较昨日结算价收涨0.86%。当 日成交量为392469手，持仓量为293695手，较前一交易日减少32777手，根据SMM现货报价，目前期货贴水电碳1080 元/吨。所有合约总持仓567772手，较前一交易日增加18973手。当日合约总成交量较前一交易日增加207843手，成 交量增加，整体投机度为0.49。当日碳酸锂仓单34154手，较上个交易日减少825手。 盘面：当日碳酸锂今日低开低高，盘中宽幅震荡，尾盘空头回补拉升，最终收涨0.86%。 新能源及有色金属日报 | 2025-05-28 碳酸锂现货偏弱，需关注期货持仓变化对短期盘面影响 碳酸锂现货：根据SMM数据，2025年5月27日电池级碳酸锂报价6.08-6.32万元/吨，较前一交易日下跌0.05万元/吨， 工业级碳酸锂报价5.99-6.09万元/吨，较前一交易日下跌0.05万元/吨。碳酸锂现货成交价格重心持续下移。当前碳 酸锂市场供需仍呈过剩状态，价格上行缺乏有力支撑。从需求端来看，需求端表现平稳，增量相对有限；但供应 端随着盘面小幅反弹，给 ...

点击注册小程序 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 一、地产开发板块估值及重点公司近期市场表现 截至2025年5月23日，房地产(申万)市盈率PE(TTM)为39.04倍，历史分位数84.38%(2024-至今)。房地产(申万) 市净率PB(LF)为0.71倍，历史分位数67.12%(2024-至今)。恒生地产建筑业市盈率PE(TTM)为39.73倍，历史分 位数95.28%(2024-至今)。恒生地产建筑业市净率PB(LF)为0.38倍，历史分位数74.04%(2024-至今)。 二、物业服务板块估值及重点公司近期市场表现 截至2025年5月23日，房地产服务(申万)市盈率PE(TTM)为42.46倍，历史分位数56.76%(2024-至今)。房地产服 务(申万)市净率PB(LF)为1.5 ...

Group 1 - In April, Asian and emerging market funds reduced their overweight positions in mainland China, although their holdings remain close to multi-year highs [1][7][16] - Global funds have gradually increased their holdings in mainland China over the past few months, but these levels are still significantly lower than those reached in 2021 [8][19] - Asian funds slightly increased their holdings in Taiwan, but their allocation relative to the benchmark index remains near historical lows [1][16] Group 2 - Foreign institutional investors (FII) injected approximately $12 billion into Asian stock markets outside of China as of May, marking the strongest monthly inflow in a year and a half [1][19] - Almost all markets experienced inflows, primarily driven by Taiwan and India, with Taiwan's inflow reaching its highest monthly level since the end of 2023 [19][20] - Despite remaining net buyers in the Indian stock market, the inflow scale has been relatively modest [20] Group 3 - Asian and emerging market funds reduced their low allocations to mainland China, South Korea, and Hong Kong, while also decreasing their low allocation to India [7][16] - Funds have shifted to a neutral allocation for South Korea, reflecting a reduction in risk exposure across most ASEAN markets, except for the Philippines [7][16] - Since January 2024, foreign funds have become net buyers in the Vietnamese stock market, indicating a shift in investment trends [22]

Core Insights - The main contract of the CSI 300 Index futures closed at 2506 on May 26, with a decrease of 0.61% and a trading volume of 62,900 contracts, indicating a net short position among the top 20 positions with a difference of 13,388 contracts [1][3]. Trading Volume and Positions - Total trading volume for all contracts was 86,700 contracts, a decrease of 2,340 contracts from the previous day [1]. - The top 20 positions showed a long position of 162,500 contracts, down by 1,390 contracts, and a short position of 191,700 contracts, down by 1,340 contracts [1][4]. Major Players - The top three long positions were held by Guotai Junan with a total holding of 38,943 contracts, CITIC Futures with 19,308 contracts, and Haitong Futures with 14,213 contracts [1][4]. - The top three short positions were held by CITIC Futures with 42,754 contracts, Guotai Junan with 25,571 contracts, and Haitong Futures with 17,669 contracts [1][4]. Changes in Positions - Among the top 20 positions, the largest increase in long positions was seen in Guoxin Futures with an increase of 236 contracts, while Guotai Junan had the largest decrease in long positions with a reduction of 3,229 contracts [1][3]. - For short positions, Yong'an Futures had the largest increase with 103 contracts, while Guotai Junan had the largest decrease with 3,350 contracts [1][3].

首先，咱们得知道啥是空头和多头。简单来说，多头就是那些觉得股票指数会涨，所以买入股指期货的人；而空头呢，就是那 些觉得指数会跌，所以卖出股指期货的人。 空头增仓，就是空头们觉得指数还得跌，于是他们增加了卖出的股指期货的数量。这样一来，市场上的空头头寸就变多了。 多头增仓呢，就是多头们觉得指数要涨，他们纷纷买入股指期货，市场上的多头头寸也就变多了。 怎么判断空头增仓？ 1.看持仓量变化： 如果某个股指期货的持仓量在持续增加，那有可能是空头在增仓。因为每增加一手空头持仓，就得有对应的一手多头持仓（虽 然不一定同时发生，但总持仓量是相等的）。但咱们要看的是趋势，如果持仓量一直往上涨，那空头增仓的可能性就大了。 2.观察价格走势： 如果指数在下跌，同时持仓量还在增加，那很可能就是空头在增仓。因为价格下跌时，多头可能不太愿意买入，而空头则会趁 机增加卖出量。 如果指数在上涨，同时持仓量也在增加，那很可能就是多头在增仓。因为价格上涨时，多头更愿意买入，推高价格。 3.看成交量： 成交量也是判断多头增仓的一个重要指标。如果成交量放大，同时价格也在上涨，那多头增仓的可能性就更大了。因为成交量 放大意味着有更多的交易在发生，而 ...

Core Insights - Bitwise Asset Management and UTXO Management predict that institutions could hold over 4.2 million bitcoins by 2026 due to significant capital inflows, sovereign adoption, and yield strategies [1] - The report outlines a phased allocation transformation driven by macroeconomic conditions, legislative trends, and the performance of spot Bitcoin ETFs [1] Category: Current Key Players - Key players include the United States, El Salvador, Bhutan, Morgan Stanley, Goldman Sachs, Strategy, Metaplanet, Texas, Arizona, New Hampshire, Abu Dhabi, and Norway [1] Category: Estimated Inflows (USD) - Estimated institutional inflows are projected to reach approximately $1.2 billion by the end of 2025 and around $3 billion by 2026, totaling over 4.2 million bitcoins held by a diverse group of investors [1] - The report categorizes inflows into different tiers: Bear ($58.9 billion), Base ($117.8 billion), and Bull ($235.6 billion) [2] Category: Estimated DTC Allocation (% of Supply) - Nation-States are expected to hold 1,617,000 bitcoins (7.70% of supply), Wealth Management Platforms 1,200,000 bitcoins (5.71%), Public Companies 1,178,000 bitcoins (5.61%), U.S. States 196,000 bitcoins (0.93%), and Sovereign Wealth Funds 78,000 bitcoins (0.37%) [1] Category: Market Dynamics - The report highlights the rise of Bitcoin-native yield infrastructure, indicating a growing demand for yield strategies that allow companies to expand their Bitcoin holdings without selling assets [2] - The emergence of a new market opportunity worth $100 billion is anticipated due to the development of second-layer scaling solutions and decentralized protocols [2] Category: Price Movements - Bitcoin reached a price of $109,700, with a peak of $111,000, driven by supportive regulatory attitudes from the Trump administration and significant institutional capital inflows [3] - Concerns over increasing U.S. fiscal deficits and global bond market dynamics have contributed to Bitcoin's rise as a "new safe haven" asset [3]

金十图示：2025年05月24日（周六）黄金ETF持仓报告 注:ETF持仓数据于北京时间周二至周六凌晨5点30分左右更新,数据为上 一日的持仓情况。 @ JIN10.COM 金十数据 | 一个交易工具 2025-05-08 +2.01 中 -0.29吨 2025-05-07 2025-05-06 -1.43吨 -4.87吨 2025-05-05 -1.15吨 2025-05-02 0 -6 3 6 -3 -d 增仓 减仓 ...