- The report predicts the dividend points for the next year for the CSI 500, CSI 300, SSE 50, and CSI 1000 indices as 83.74, 84.59, 66.18, and 63.72, respectively[9][10][11][12] - The dividend points for the current month contracts IC2512, IF2512, IH2512, and IM2512 are estimated at 0.69, 1.28, 0.54, and 0.67, respectively[9][10][11][12] - The dividend points for the next month contracts IC2601, IF2601, IH2601, and IM2601 are estimated at 0.69, 1.28, 0.54, and 0.67, respectively[9][10][11][12] - The dividend points for the current season contracts IC2603, IF2603, IH2603, and IM2603 are estimated at 0.69, 1.28, 0.54, and 0.67, respectively[9][10][11][12] - The dividend points for the next season contracts IC2606, IF2606, IH2606, and IM2606 are estimated at 50.04, 27.67, 14.96, and 41.08, respectively[9][10][11][12] - The annualized basis for the IC, IF, IH, and IM contracts after dividend adjustment are -9.03%, -3.52%, -1.52%, and -11.81%, respectively[4][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43][44][45] - The continuous hedging strategy for the CSI 500 index futures from July 22, 2022, to December 5, 2025, shows an annualized return of -3.38%, volatility of 3.81%, maximum drawdown of -11.02%, and net value of 0.8911[46][47][48][49][50] - The minimum discount strategy for the CSI 500 index futures from July 22, 2022, to December 5, 2025, shows an annualized return of -1.89%, volatility of 4.52%, maximum drawdown of -8.53%, and net value of 0.9378[46][47][48][49][50] - The continuous hedging strategy for the CSI 300 index futures from July 22, 2022, to December 5, 2025, shows an annualized return of 0.37%, volatility of 2.90%, maximum drawdown of -3.95%, and net value of 1.0124[51][52][53][54][55] - The minimum discount strategy for the CSI 300 index futures from July 22, 2022, to December 5, 2025, shows an annualized return of 1.10%, volatility of 3.02%, maximum drawdown of -4.06%, and net value of 1.0374[51][52][53][54][55] - The continuous hedging strategy for the SSE 50 index futures from July 22, 2022, to December 5, 2025, shows an annualized return of 1.06%, volatility of 2.97%, maximum drawdown of -4.22%, and net value of 1.0360[56][57][58][59] - The minimum discount strategy for the SSE 50 index futures from July 22, 2022, to December 5, 2025, shows an annualized return of 1.67%, volatility of 2.99%, maximum drawdown of -3.91%, and net value of 1.0573[56][57][58][59] - The continuous hedging strategy for the CSI 1000 index futures from July 22, 2022, to December 5, 2025, shows an annualized return of -6.42%, volatility of 4.74%, maximum drawdown of -14.00%, and net value of 0.8327[60][61][62][63] - The minimum discount strategy for the CSI 1000 index futures from July 22, 2022, to December 5, 2025, shows an annualized return of -4.37%, volatility of 5.51%, maximum drawdown of -11.11%, and net value of 0.8700[60][61][62][63] - The Cinda-VIX indices for the 30-day period for SSE 50, CSI 300, CSI 500, and CSI 1000 are 15.95, 16.61, 23.09, and 20.50, respectively[64][65][66][67][68][69][70][71][72][73][74][75][76][77][78][79] - The Cinda-SKEW indices for SSE 50, CSI 300, CSI 500, and CSI 1000 are 104.35, 106.49, 101.91, and 106.75, respectively[74][75][76][77][78][79][80]

盘面回顾：指数窄幅震荡，个股和板块表现分化。周二全天指数窄幅震荡，临近尾盘沪指收红，但 大部分中小市值宽基指数仍以绿盘报收。交易金额为1.07 万亿，较周一萎缩。周二 31 个一级行业表现 分化，领涨板块是美容护理、银行、家用电器、纺织服饰、传媒等。领跌板块是国防军工、商贸零售、 电子、钢铁、社会服务等。 风险提示：关税冲击的后续影响，美联储降息延后，海外经济衰退超预期，国内经济复苏不及预 期，政策执行不及预期等。 周二指数窄幅波动，市场观望情绪加大。周二 A 股全天窄幅波动，波幅仅 22 个指数点，显示在经 历了连续 5 个交易日的上涨后，市场观望情绪开始加大，追涨意愿下降。从中期角度来看，在中央汇金 等三家国资开始增持，叠加多家上市公司宣布回购增持后，市场已经迎来拐点。尽管"对等关税"的后续 影响还存在一定不确定性，但市场交易开始克服恐慌心理，指数在波折中继续修复行情。 后市展望：关税事件的冲击最高峰已经过去，A 股将在波折中继续修复。4 月 7 日的极端下跌是对 近期所谓"对等关税"事件的一次性反映，随着市场情绪逐渐平稳和以中央汇金为代表的国资以及多家上 市公司宣布回购增持后，目前 A 股已经进入修复性 ...