Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - The short - term view of the stock index is mainly fluctuating strongly, and the medium - term view is rising. The overall reference view is fluctuating strongly. Policy - side favorable expectations provide strong support, and the risk preference of the stock market has recovered recently [1][4] Group 3: Summary by Related Catalogs 1. Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the IH2509 variety, the short - term view is fluctuating, the medium - term view is rising, the intraday view is fluctuating strongly, and the overall view reference is fluctuating strongly. The core logic is that policy - side favorable expectations form strong support [1] 2. Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The intraday view of IF, IH, IC, and IM is fluctuating strongly, and the medium - term view is rising, with a reference view of fluctuating strongly. Yesterday, each stock index fluctuated and sorted out, rising slightly throughout the day. The full - market trading volume of the stock market was 1575.6 billion yuan, a reduction of 47.5 billion yuan compared with the previous day. The manufacturing PMI data in June showed a marginal improvement. The risk preference of the stock market has recovered recently due to policy - side support, expectations of incremental funds entering the market, and the easing of external risk factors in the short term. The large - finance and AI technology sectors have become the market's main lines, and the market sentiment is positive and optimistic [4]

Core Insights - A total of 9 stock ETFs will be launched from tomorrow until next Wednesday, including Digital Economy ETF, Aerospace ETF, Semiconductor Equipment ETF, and Sci-Tech 50 ETF [1] - ETFs are required to complete their portfolio construction before listing to ensure compliance with fund contracts and related documents [1] - The batch listing of these ETFs is expected to inject significant new capital into the market [1]

光大期货金融期货日报 光大期货金融期货日报（2025 年 05 月 08 日） 光大期货金融期货日报 | | 昨日国债期货收盘，30 年期主力合约跌 0.62%，10 年期主力合约跌 0.19%， 5 年期主力合约跌 0.08%，2 年期主力合约跌 0.01%。中国央行开展 1955 亿 | | | --- | --- | --- | | | 元 7 天期逆回购操作，利率持稳于 1.5%。公开市场有 5308 亿元逆回购到期， | | | | 净回笼 3353 亿元。银行间市场方面，DR001 利率下行 4.82bp 至 1.6613%， | | | | DR007 4.7bp 1.6802%；交易所回购市场方面，GC001 13bp 利率下行 至 下行 | | | 国债 | 至 1.5750%，GC007 利率下行 6bp 至 1.6750%。昨日一揽子增量措施出台， | 偏空 | | | 央行发布 3 类 10 项措施，降准降息落地。当前债市抢跑定价基本面走弱和 | | | | 货币政策发力预期较为明显，在经济尚未受到明显外需的拖累，而降准降息 | | | | 已经落地的情况下，债市预计偏空运行。收益率曲 ...

Group 1: Tariff Adjustments and Trade Relations - The State Council Tariff Commission announced an increase in tariffs on imports from the U.S., raising the rate from 34% to 84% effective April 10, 2025 [2][3] - The Chinese government views the U.S. tariff escalation as a violation of multilateral trade rules and plans to file a lawsuit with the WTO against the U.S. for imposing an additional 50% tariff on Chinese products [3] - The Chinese Ministry of Commerce has added 12 U.S. entities to an export control list due to national security concerns, prohibiting the export of dual-use items to these entities [4] Group 2: Company Actions and Market Responses - CITIC Group plans to invest 1.2 billion yuan in Longping High-tech to support breeding research and industry integration [14] - Several companies, including Weichai Power and Songshan Lake, have announced share buybacks ranging from 500 million to 2 billion yuan to enhance shareholder value [14][16] - Ganfeng Lithium and Sanan Optoelectronics are also planning share repurchases, indicating a trend among companies to stabilize their stock prices amid market fluctuations [15][16] Group 3: Economic Outlook and Market Sentiment - Analysts from Fangzheng Securities predict an influx of incremental capital into the A-share market in 2025, driven by state-owned capital increases and corporate buybacks [26] - Huajin Securities anticipates a rebound in the A-share market, focusing on sectors such as military, consumer goods, infrastructure, and technology [27]

中证报中证网讯(记者赵中昊)4月9日，方正证券首席经济学家燕翔在接受中国证券报记者采访时表示， 4月份以来，面对外部冲击导致的全球股市巨大波动，包括央行、汇金公司、央企、保险、社保、上市 公司等国内资本市场参与各方，通过增持回购等多种方式协力为A股市场提供源源不断的增量资金支 持，用实际行动表达了对中国资本市场的坚定看好。 首先是代表"国家队"的中央汇金公司快速出手。4月7日，中央汇金公司发布公告称坚定看好中国资本市 场发展前景，充分认可当前A股配置价值，已再次增持ETF，未来将继续增持。同日，央行表示将坚定 支持，并在必要时向中央汇金公司提供充足的再贷款支持，坚决维护资本市场平稳运行。本次中央汇金 关键时点再度增持A股资产意义重大，一方面为市场带来了充实的增量资金，另一方面其类"平准基 金"作用更突显了政策决心。 燕翔认为，从基本面角度看，中国是一个以内需为主导的大国经济体，中国拥有14亿人口，2024年人均 GDP达到了95749元、居民人均可支配收入41314元，是全球最大和最有潜力的消费市场，具有巨大增长 空间。在新发展格局下，中国的内需潜力将进一步释放，2025年春节档电影票房创历史新高即已反映了 ...

Core Viewpoint - A total of 132.42 billion yuan in incremental funds is set to enter the market with the establishment of six new Sci-Tech Innovation Index ETF linked funds [1] Group 1: Fundraising Details - Six companies, including Huaxia, E Fund, China Merchants, Penghua, Bosera, and Southern, have collectively raised 132.42 billion yuan through the establishment of Sci-Tech Innovation Index ETF linked funds [1] - Huaxia's linked fund raised 48.92 billion yuan, while E Fund raised 43.62 billion yuan [1] - Two additional Sci-Tech Innovation Index ETF linked funds were established earlier, and four more are currently in the issuance process [1] Group 2: Total Fundraising Overview - The total fundraising amount for 14 Sci-Tech Innovation Index ETF linked funds has exceeded 170 billion yuan [1]

Group 1 - Six fund companies, including Huaxia, E Fund, China Merchants, Penghua, Bosera, and Southern, launched a total of 14 Sci-Tech Innovation Index ETF linked funds with a combined fundraising scale exceeding 17 billion yuan [1][1][1] - The newly established funds raised a total of 13.242 billion yuan, indicating a significant influx of capital into the market [1][1][1] - Two additional Sci-Tech Innovation Index ETF linked funds completed fundraising on April 7, with four more currently in the issuance process [1][1][1]