- The report primarily focuses on tracking and analyzing the performance of broad-based indices in the A-share market, including their daily returns, moving averages, turnover rates, and valuation metrics such as PE-TTM and risk premiums[1][2][3] - The analysis highlights that all broad-based indices experienced gains on December 8, 2025, with the ChiNext Index (2.6%) and CSI 2000 (1.47%) showing the largest daily increases. For the year-to-date performance, the ChiNext Index (48.97%) recorded the highest growth, followed by CSI 2000 (33.97%) and CSI 500 (25.27%)[10][11] - All indices have surpassed their 5-day, 10-day, and 20-day moving averages, with CSI 1000 and CSI All Share also breaking above their 60-day moving averages. However, CSI 500 remains below its 60-day moving average, indicating a continued market recovery[14][15] - The turnover rates for December 8, 2025, were highest for CSI 2000 (4.34), followed by ChiNext Index (2.78) and CSI 1000 (2.47). The lowest turnover rates were observed for SSE 50 (0.26) and CSI 300 (0.61)[17] - The distribution of daily returns shows that the ChiNext Index has the largest negative kurtosis deviation, while CSI 1000 has the smallest. Similarly, the ChiNext Index exhibits the largest negative skewness, indicating a higher likelihood of extreme negative returns compared to other indices[23][25] - Risk premiums, calculated relative to the 10-year government bond yield, are highest for the ChiNext Index (2.60%) and CSI 2000 (1.46%), with their 5-year percentile ranks at 93.41% and 85.79%, respectively. In contrast, SSE 50 (0.57%) and CSI 300 (0.80%) have lower risk premiums and percentile ranks[27][31] - The PE-TTM ratios for broad-based indices show that CSI 1000 (97.52%) and CSI 500 (95.54%) have the highest 5-year percentile ranks, while CSI 2000 (84.3%) and the ChiNext Index (57.69%) are relatively lower. The ChiNext Index's 5-year percentile rank is below its danger threshold of 80%[39][43][44] - Dividend yields are highest for SSE 50 (3.30%) and CSI 300 (2.71%), while CSI 500 (1.37%) and CSI 2000 (0.75%) are the lowest. The ChiNext Index's 5-year historical percentile rank for dividend yield is relatively high at 66.69%[48][53][55] - The percentage of stocks trading below their book value (PB ratio < 1) is highest for SSE 50 (22.0%) and lowest for the ChiNext Index (1.0%), reflecting varying market valuation attitudes across indices[57]

Global Asset Market Performance - The latest yields of 10 - year government bonds in major economies are as follows: US 4.165%, UK 4.527%, France 3.582%, Germany 2.861%, Italy 3.561%, Spain 3.332%, Switzerland 0.230%, Greece 3.464%, Japan 1.968%, Brazil 6.220%, China 1.833%, South Korea (not available), Australia 4.705%, New Zealand 4.437% [3] - The latest yields of 2 - year government bonds in major economies are: US 3.576%, UK 3.806%, Germany 2.156%, Japan 1.059%, Italy 2.297%, China (1Y yield) 1.401%, South Korea (not available), Australia 3.971% [3] - The latest exchange rates of the US dollar against major emerging - economy currencies are: Brazil 5.432, Russia (not available), South Africa zar 17.042, Korean won 1469.400, Thai baht 31.850, Malaysian ringgit 4.113. The on - shore RMB is 7.072, the off - shore RMB is 7.072, the RMB central parity is 7.076, and the RMB 12 - month NDF is 6.936 [3] - The latest values of major economies' stock indices are: S&P 500 6846.510, Dow Jones Industrial Index 47739.320, Nasdaq 23545.900, Mexican stock index 63528.000, UK stock index 9645.090, France CAC 8108.430, Germany DAX 24046.010, Spanish stock index 16712.200, Russian stock index (not available), Nikkei 50581.940, Hang Seng Index 25765.360, Shanghai Composite Index 3924.078, Taiwan stock index 28303.780, South Korean stock index 4154.850, Indian stock index 8710.695, Thai stock index 1261.390, Malaysian stock index 1612.780, Australian economy index 8914.962, emerging - economy stock index 1386.620 [3] - The latest values of credit - bond indices are: US investment - grade credit - bond index 3532.090, euro - zone investment - grade credit - bond index 265.008, emerging - economy investment - grade credit - bond index 289.370, US high - yield credit - bond index 2898.070, euro - zone high - yield credit - bond index 409.350, emerging - economy high - yield credit - bond index 1803.856 [3] Stock Index Futures Trading Data - For A - share index performance, the closing prices are: A - shares 3924.08, CSI 300 4621.75, SSE 50 3019.36, ChiNext 3190.27, CSI 500 7172.37. The percentage changes are: A - shares 0.54%, CSI 300 0.81%, SSE 50 0.58%, ChiNext 2.60%, CSI 500 1.05% [4] - In terms of valuation, the PE(TTM) values are: CSI 300 14.08, SSE 50 11.89, CSI 500 32.67, S&P 500 27.21, Germany DAX 18.63. The环比 changes are: CSI 300 0.06, SSE 50 0.03, CSI 500 0.32, S&P 500 - 0.12, Germany DAX 0.02 [4] - Regarding risk premium, 1/PE - 10 - year interest rate values are: S&P 500 - 0.49, Germany DAX 2.51. The环比 changes are: S&P 500 - 0.01, Germany DAX - 0.07 [4] - For fund flows, the latest values are: A - shares - 31.13, main board - 259.96, small - and - medium - sized enterprise board (not available), ChiNext 139.88, CSI 300 33.95. The 5 - day average values are: A - shares - 360.23, main board - 326.76, small - and - medium - sized enterprise board (not available), ChiNext - 38.69, CSI 300 - 4.65 [4] - The latest trading volumes are: Shanghai and Shenzhen stock markets 20366.46, CSI 300 4967.16, SSE 50 1252.39, small - and - medium - sized board 3786.43, ChiNext 5818.21. The环比 changes are: Shanghai and Shenzhen stock markets 3108.75, CSI 300 845.69, SSE 50 147.92, small - and - medium - sized board 516.77, ChiNext 1100.81 [5] - The主力升贴水 data shows: IF basis - 8.55, amplitude - 0.19%; IH basis - 4.36, amplitude - 0.14%; IC basis - 28.37, amplitude - 0.40% [5] Treasury Bond Futures Trading Data - The closing prices of treasury bond futures are: T2303 108.11, TF2303 105.73, T2306 107.91, TF2306 105.75. The percentage changes are: T2303 0.05%, TF2303 0.01%, T2306 0.04%, TF2306 - 0.01% [5] - The money market shows: R001 1.3718%, R007 1.4940%, SHIBOR - 3M 1.5800%. The daily changes (BP) are: R001 - 13.00, R007 - 1.00, SHIBOR - 3M 0.00 [5]

Global Asset Market Performance - The latest yields of 10 - year government bonds in major economies: US 4.136, UK 4.476, France 3.523, Germany 2.797, Italy 3.484, Spain 3.259, Switzerland 0.157, Greece 3.391, Japan 1.939, Brazil 6.197, China 1.831, South Korea 3.376, Australia 4.684, New Zealand 4.349 [3] - The latest yields of 2 - year government bonds in major economies: US 3.561, UK 3.776, Germany 2.093, Japan 1.043, Italy 2.228, China (1Y yield) 1.400, South Korea 2.833, Australia 3.946 [3] - The latest exchange rates of the US dollar against major emerging - economy currencies: Brazil 5.451, Russia (not provided), South Africa zar 16.934, South Korean won 1472.050, Thailand baht (not provided), Malaysian ringgit 4.111 [3] - The latest exchange rate - related data of the RMB: on - shore RMB 7.071, off - shore RMB 7.069, RMB central parity rate 7.075, RMB 12 - month NDF 6.934 [3] - The latest stock indices of major economies: S&P 500 6870.400, Dow Jones Industrial Average 47954.990, Nasdaq 23578.130, Mexican stock index 63378.300, UK stock index 9667.010, French CAC 8114.740, German DAX 24028.140, Spanish stock index 16688.500, Russian stock index (not provided), Nikkei 50491.870, Hang Seng Index 26085.080, Shanghai Composite Index 3902.808, Taiwan stock index 27980.890, South Korean stock index 4100.050, Indian stock index 8632.761, Thai stock index (not provided), Malaysian stock index 1616.520, Australian stock index 8926.127, emerging - economy stock index 1385.480 [3] - The latest credit - bond indices: US investment - grade credit - bond index 3535.540, euro - zone investment - grade credit - bond index 265.875, emerging - economy investment - grade credit - bond index 289.560, US high - yield credit - bond index 2901.450, euro - zone high - yield credit - bond index 409.330, emerging - economy high - yield credit - bond index 1806.999 [3] Stock Index Futures Trading Data - Index performance: A - share closing price 3902.81, up 0.70%; CSI 300 closing price 4584.54, up 0.84%; SSE 50 closing price 3002.01, up 0.93%; ChiNext closing price 3109.30, up 1.36%; CSI 500 closing price 7097.84, up 1.21% [4] - Valuation: PE(TTM) of CSI 300 is 14.02 with a 0.06环比 change; SSE 50 is 11.86 with a 0.04环比 change; CSI 500 is 32.35 with a 0.41环比 change; S&P 500 is 27.33 with a 0.05环比 change; German DAX is 18.61 with a 0.11环比 change [4] - Risk premium: 1/PE - 10 - year interest rate of S&P 500 is - 0.48 with a - 0.05环比 change; German DAX is 2.58 with a - 0.05环比 change [4] - Fund flow: The latest value of A - share fund flow is 759.67, the main board is 443.70, the ChiNext is 260.14, and CSI 300 is 197.37. The 5 - day average of A - share fund flow is - 395.38, the main board is - 294.49, the ChiNext is - 74.98, and CSI 300 is 17.56 [4] - Transaction amount: The latest transaction amount of the Shanghai and Shenzhen stock markets is 17257.71 with a 1768.11环比 change; CSI 300 is 4121.47 with a 633.80环比 change; SSE 50 is 1104.47 with a 218.25环比 change; small - and - medium - sized board is 3269.66 with a 132.41环比 change; ChiNext is 4717.40 with a 600.12环比 change [5] - Main contract basis and spread: IF basis is - 10.14, amplitude - 0.22%; IH basis is - 4.61, amplitude - 0.15%; IC basis is - 14.64, amplitude - 0.21% [5] Treasury Bond Futures Trading Data - Closing prices and price changes: T2303 closing price is 108.06, up 0.06%; TF2303 closing price is 105.72, up 0.10%; T2306 closing price is 107.87, up 0.19%; TF2306 closing price is 105.76, up 0.15% [5] - Fund interest rates: R001 is 1.3719% with a - 12.00 BP daily change; R007 is 1.4963% with a 1.00 BP daily change; SHIBOR - 3M is 1.5800% with a 0.00 BP daily change [5]

固定收益 2026 年债市展望 ——从利率比价视角看当前债市 2025 年 12 月 5 日 固定收益研究/事件点评 相关报告： 利率互换曲线正走出倒挂，债市将由牛 市转为震荡-债市策略 2025.9.11 山证固定收益研究团队 分析师： 王冠军 执业登记编码：S0760524040001 请务必阅读最后股票评级说明和免责声明 1 邮箱：wangguanjun@sxzq.com 事件概览：2025 年 11 月 11 日，央行发布了第三季度货币政策执行报告，其 中专栏四《保持合理的利率比价关系》指出"利率及其比价关系对宏观经济 均衡和资源配置有重要导向意义"，"保持合理的利率比价关系是畅通货币政 策传导的需要"。这是近年来央行第一次详细阐释利率比价关系，或为后续 管理市场利率预设了政策框架，同时对债市走势也提供了一种新的支撑，本 文基于利率比价视角对 2026 年债市进行总体展望。 核心观点： 利率及其比价关系对宏观经济均衡和资源配置有重要导向意义。利率本 质上是资金的回报率。由于不同金融工具的期限、风险、流动性等属性不同， 经济活动中的利率品种众多，利率水平也有所差异，形成一定比价关系。利 率和利率比价关系 ...

Global Asset Market Performance - The latest value of the 1-year yield of China's 2-year treasury bond is 1.406 [2] - The latest exchange rates of the US dollar against major emerging economies' currencies are: 5.312 against the Brazilian real, 16.996 against the South African rand, 1473.500 against the South Korean won, 32.040 against the Thai baht, and 4.113 against the Malaysian ringgit [2] - The latest values of the onshore RMB, offshore RMB, RMB central parity rate, and RMB 12-month NDF are 7.072, 7.072, 7.073, and 6.935 respectively [2] - The latest values of major economies' stock indices are: S&P 500 at 6857.120, Dow Jones Industrial Average at 47850.940, NASDAQ at 23505.140, etc [2] - The latest values of credit bond indices are: US investment-grade credit bond index at 3540.480, eurozone investment-grade credit bond index at 266.108, etc [2] Stock Index Futures Trading Data - For A-shares, the closing price is 3875.79 with a -0.06% change; for the CSI 300, it's 4546.57 with a 0.34% change; for the SSE 50, it's 2974.34 with a 0.38% change; for the ChiNext, it's 3067.48 with a 1.01% change; for the CSI 500, it's 7012.81 with a 0.24% change [3] - The PE(TTM) values of the CSI 300, SSE 50, CSI 500, S&P 500, and German DAX are 13.96, 11.82, 31.94, 27.28, and 18.52 respectively, with环比 changes of 0.02, 0.02, 0.06, 0.04, and 0.15 [3] - The latest capital flow values for A-shares, the main board, the small and medium-sized enterprise board, the ChiNext, and the CSI 300 are -442.10, -426.62, -, -67.51, and 72.52 respectively, and the 5-day average values are -509.13, -353.73, -, -119.52, and -30.13 [3] - The latest trading volume values for the Shanghai and Shenzhen stock markets, CSI 300, SSE 50, small and medium-sized board, and ChiNext are 15489.60, 3487.67, 886.22, 3137.25, and 4117.28 respectively, with环比 changes of -1210.02, -257.19, 31.27, -174.24, and -545.69 [4] - The basis and basis spread for IF, IH, and IC are -15.97 (-0.35%), -6.14 (-0.21%), and -29.61 (-0.42%) respectively [4] Treasury Bond Futures Trading Data - The closing prices of T2303, TF2303, T2306, and TF2306 treasury bond futures are 108.00, 105.62, 107.67, and 105.60 respectively, with changes of -0.22%, -0.14%, -0.34%, and -0.24% [4] - The current capital interest rates of R001, R007, and SHIBOR-3M are 1.3611%, 1.4852%, and 1.5800% respectively, with daily changes of -12.00 BP, 1.00 BP, and 0.00 BP [4]

PGIM固定收益联席首席投资官认为，哈塞特不具备足够的威信在美联储内部促成共识，因此难凭借一己之力推动快速降息。债券市场也印证了这一点。 他还强调，美联储的独立性"仍然是投资者的一个主要关切点"。 Peters的核心论点在于，美联储主席的个人意志并不能完全主导货币政策的走向。由于利率决策由联邦公开市场委员会（FOMC）通过投票决定，主席 需要有足够的能力在委员会内部建立共识。 "他在委员会内部是否拥有推动共识的信誉？"Peters在接受媒体采访时提出质疑，并给出了自己的判断： "我们不知道答案。但我认为他不具备那种信誉。我想这就是债券市场正在告诉你的信息。" 据媒体此前报道，包括美国财政部借款顾问委员会成员在内的债券投资者，已就哈赛特可能被任命为美联储主席一事向美国财政部表达了担忧。 面对外界的质疑，哈赛特本周进行了反驳。他援引一次强劲的美国国债拍卖结果，作为市场并未因他可能接任的传闻而感到恐慌的迹象。他本人对其获 得提名的可能性则保持低调。 近日，PGIM固定收益公司的联席首席投资官Gregory Peters在接受媒体采访时警告称， 即便现任白宫国家经济委员会主任哈赛特最终被任命为下一届 美联储主席，他可 ...

近日，PGIM固定收益公司的联席首席投资官Gregory Peters在接受媒体采访时警告称，即便现任白宫国家经济委员会主任哈赛特最终被任命为下 一届美联储主席，他可能也没有能力实现特朗普所希望的快速降息，因为美联储的利率决策终究由委员会集体决定。 这一警告发出之际，市场正热议哈赛特若执掌美联储，可能会为迎合特朗普而采取激进的货币宽松政策。特朗普本周表示，美联储主席的角逐 已"缩减至一人"，并称哈赛特是"潜在的美联储主席人选"，这让哈赛特成为该职位的头号热门。 哈赛特成为热门人选已引发投资者对美联储独立性的新一轮担忧。Peters指出，这一担忧正在转化为风险溢价，并被计入全球主权债券的定价中。 他强调，美联储的独立性"仍然是投资者的一个主要关切点"。 然而，尽管市场对此高度关注，但美国国债收益率在周四表现平稳基准10年期国债收益率维持在4.08%，对政策敏感的2年期国债收益率微升1个 基点至3.50%。 | 概览 | 图表 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

Report Summary Key Information - The Guangzhou Futures Exchange will adjust the trading margin standard and trading limit of the polysilicon futures PS2601 contract. Effective from the settlement on December 3, 2025, the speculative trading margin standard will be adjusted to 13%, and the hedging trading margin standard will be adjusted to 12%. Starting from the trading session on December 3, 2025, the single - day opening volume of non - futures company members or clients on the polysilicon futures PS2601 contract shall not exceed 500 lots [2] - The Henan Bureau of the National Mine Safety Administration has ordered Henan Shenhuo Coal & Power Co., Ltd.'s Xinzhuang Coal Mine to suspend production for rectification for 2 days due to major accident hazards [2] - The ANRPC monthly rubber report shows that in October 2025, natural rubber prices showed a bearish trend. In 2025, the global natural rubber production is expected to increase slightly by 1.3% compared to 2024, and demand is expected to increase by 0.8% [2] - As of November 28, 2025, the commercial inventory of soybean oil in key regions across China was 117.88 million tons, a decrease of 0.11 million tons from the previous week, a decline of 0.09%. The commercial inventory of palm oil in key regions was 65.35 million tons, a decrease of 1.36 million tons from the previous week, a decline of 2.04% [2] - The US ISM Manufacturing PMI index in November dropped 0.5 points to 48.2, remaining below the 50 boom - bust line for nine consecutive months, marking the largest contraction in four months. The new orders index dropped to the fastest contraction rate since July, and the backlog of orders had the largest decline in seven months [3] Plate Performance - Key areas of focus include urea, coking coal, silver, asphalt, and PVC [4] - In the night session, the non - metallic building materials sector rose 2.77%, the precious metals sector rose 30.31%, the oilseeds and oils sector rose 9.08%, the non - ferrous metals sector rose 23.79%, the soft commodities sector rose 2.75%, the coal, coking, steel, and ore sector rose 12.35%, the energy sector rose 2.84%, the chemical sector rose 10.87%, the grain sector rose 1.39%, and the agricultural and sideline products sector rose 3.84% [4] Plate Position - The document presents the position changes of commodity futures plates in the past five days, but specific data is not clearly stated in text form [5] Performance of Major Asset Classes | Category | Name | Daily Return (%) | Monthly Return (%) | Annual Return (%) | | --- | --- | --- | --- | --- | | Equity | Shanghai Composite Index | 0.65 | 0.65 | 16.77 | | | SSE 50 | 0.81 | 0.81 | 11.51 | | | CSI 300 | 1.10 | 1.10 | 16.30 | | | CSI 500 | 1.00 | 1.00 | 24.03 | | | S&P 500 | - 0.53 | - 0.53 | 15.83 | | | Hang Seng Index | 0.67 | 0.67 | 29.78 | | | German DAX | - 1.04 | - 1.04 | 18.49 | | | Nikkei 225 | - 1.89 | - 1.89 | 23.58 | | | FTSE 100 | - 0.18 | - 0.18 | 18.71 | | Fixed - income | 10 - year Treasury Bond Futures | 0.12 | 0.09 | - 0.81 | | | 5 - year Treasury Bond Futures | 0.10 | 0.09 | - 0.66 | | | 2 - year Treasury Bond Futures | 0.03 | 0.03 | - 0.55 | | Commodity | CRB Commodity Index | 0.41 | 0.41 | 2.03 | | | WTI Crude Oil | 1.71 | 1.97 | - 17.20 | | | London Spot Gold | 0.30 | 0.30 | 61.24 | | | LME Copper | 0.00 | 0.00 | 27.26 | | | Wind Commodity Index | 2.12 | 2.12 | 36.63 | | Other | US Dollar Index | - 0.03 | - 0.03 | - 8.36 | | | CBOE Volatility Index | 0.00 | 0.00 | - 5.76 | [6]

- The report primarily focuses on tracking and analyzing the performance of broad-based indices in the A-share market, including metrics such as daily returns, moving averages, turnover rates, risk premiums, PE-TTM, and dividend yields[1][2][3] - The turnover rate of the indices is calculated using the formula: $ \text{Turnover Rate} = \frac{\Sigma(\text{Circulating Shares of Component Stocks} \times \text{Turnover Rate of Component Stocks})}{\Sigma(\text{Circulating Shares of Component Stocks})} $ This metric highlights the liquidity and trading activity of the indices, with the highest turnover rate observed for CSI 2000 (3.91) and the lowest for SSE 50 (0.22)[17] - The risk premium is calculated relative to the 10-year government bond yield, serving as a measure of the relative investment value of the indices. For instance, the current risk premium for CSI 500 is 1.15%, with a 5-year historical percentile of 85.24%, indicating a relatively high valuation compared to historical levels[27][31] - The PE-TTM (Price-to-Earnings Trailing Twelve Months) is used as a valuation metric. For example, the current PE-TTM for CSI 1000 is 46.97, with a 5-year historical percentile of 95.95%, suggesting a high valuation relative to its historical range[37][43] - Dividend yield is analyzed as a measure of cash return to investors. For instance, the current dividend yield for SSE 50 is 3.31%, with a 5-year historical percentile of 36.53%, indicating a moderate level compared to its historical distribution[48][53] - The report also examines the kurtosis and skewness of daily return distributions for the indices. For example, the CSI 2000 index has the smallest negative skewness (-0.37) and the highest kurtosis (1.38) among the indices, indicating a more concentrated return distribution with fewer extreme negative returns[23][25]

1. Global Asset Market Performance - Main economies' 10 - year treasury bond yields: US 4.015, UK 4.440, France 3.408, Germany 2.688, Italy 3.398, Spain 3.163, Switzerland 0.149, Greece 3.286, Japan 1.806, Brazil 6.144, China 1.830, South Korea 3.346, Australia 4.515, New Zealand 4.253 [1] - Main economies' 2 - year treasury bond yields: US 3.491, UK 3.736, Germany 2.026, Japan 0.972, Italy 2.175, China (1Y yield) 1.394, South Korea 2.848, Australia 3.807 [1] - USD exchange rates against major emerging - economy currencies: Brazil 5.335, Russia (not available), South Africa zar 17.113, South Korean won 1467.300, Thai baht 32.195, Malaysian ringgit 4.133 [1] - RMB exchange rates: On - shore RMB 7.075, Off - shore RMB 7.071, RMB central parity rate 7.079, RMB 12 - month NDF 6.936 [1] - Main economies' stock indices: S&P 500 6849.090, Dow Jones Industrial Average 47716.420, NASDAQ 23365.690, Mexican index 63596.780, UK index 9720.510, France CAC 8122.710, Germany DAX 23836.790, Spanish index 16371.600, Russian index (not available), Nikkei 50253.910, Hang Seng Index 25858.890, Shanghai Composite Index 3888.596, Taiwan index 27626.480, South Korean index 3926.590, Indian index 8508.706, Thai index 1256.690, Malaysian index 1604.470, Australian index 8918.688, Emerging - economy index 1366.920 [1] - Credit bond indices: US investment - grade credit bond index 3552.300, Euro - zone investment - grade credit bond index 266.285, Emerging - economy investment - grade credit bond index 290.250, US high - yield credit bond index 2898.070, Euro - zone high - yield credit bond index 408.890, Emerging - economy high - yield credit bond index 1801.247 [1] 2. Stock Index Futures Trading Data - Index performance: A - share closing price 3888.60, up 0.34%; CSI 300 closing price 4526.66, up 0.25%; SSE 50 closing price 2969.62, down 0.09%; ChiNext closing price 3052.59, up 0.70%; CSI 500 closing price 7031.55, up 1.15% [2] - Valuation: CSI 300 PE(TTM) 13.94, down 0.01; SSE 50 PE(TTM) 11.83, down 0.05; CSI 500 PE(TTM) 32.03, up 0.36; S&P 500 PE(TTM) 27.22, up 0.14; Germany DAX PE(TTM) 18.48, up 0.05 [2] - Risk premium: S&P 500 1/PE - 10 - year interest rate - 0.34, down 0.04; Germany DAX 1/PE - 10 - year interest rate 2.72, down 0.03 [2] - Fund flow: A - share latest value 190.92, 5 - day average - 112.89; Main board latest value 147.52, 5 - day average - 147.45; ChiNext latest value 37.44, 5 - day average 25.57; CSI 300 latest value - 41.10, 5 - day average 0.41 [2] 3. Other Trading Data - Transaction amount: Shanghai and Shenzhen stock markets latest value 15857.96, down 1239.98; CSI 300 latest value 3418.32, down 759.58; SSE 50 latest value 850.32, down 200.74; SME board latest value 3098.26, down 177.49; ChiNext latest value 4567.21, down 380.14 [3] - Main contract basis: IF basis - 20.86, - 0.46%; IH basis - 6.42, - 0.22%; IC basis - 57.35, - 0.82% [3] - Treasury bond futures: T2303 closing price 108.15, up 0.03%; TF2303 closing price 105.71, up 0.03%; T2306 closing price 107.94, up 0.04%; TF2306 closing price 105.75, down 0.02% [3] - Fund rates: R001 1.4252%, down 9.00 BP; R007 1.5222%, unchanged; SHIBOR - 3M 1.5800%, unchanged [3]