Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - For the IH2603 variety, the short - term and medium - term trends are both "oscillating", the intraday trend is "strong - biased", and the overall view is "range - bound oscillation" due to continuous policy support stabilizing the economic fundamentals [1]. - For IF, IH, IC, and IM, the intraday view is "strong - biased", the medium - term view is "oscillating", and the reference view is "range - bound oscillation". In the short term, the stock index will mainly be in a range - bound oscillation. The uncertainty of the US - Iran conflict has reduced investors' preference for risky assets, while the domestic macro - economy has strong resilience, mild price levels, and clear policy support, providing strong support for the stock index [5]. 3. Directory Summaries 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector | Variety | Short - term | Medium - term | Intraday | Viewpoint Reference | Core Logic | | --- | --- | --- | --- | --- | --- | | IH2603 | Oscillating | Oscillating | Strong - biased | Range - bound oscillation | Policy support stabilizes economic fundamentals [1] | 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - **Varieties**: IF, IH, IC, IM - **Intraday View**: Strong - biased - **Medium - term View**: Oscillating - **Reference View**: Range - bound oscillation - **Core Logic**: The stock indexes oscillated narrowly yesterday. The uncertainty of the US - Iran conflict has reduced investors' preference for risky assets. However, the domestic macro - economy has strong resilience, mild price levels, and clear policy support, providing strong support for the stock index. In the short term, the stock index will mainly be in a range - bound oscillation [5]

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The short - term view of the stock index futures is that the market will mainly show range - bound fluctuations, with the upper and lower limits of the index being relatively limited. The mid - term view is that the stock index will rise, and the intraday view is that it will be strong with a bias towards range - bound movement [1][4]. - The core logic is that the latest macro - economic indicators are weak, which increases the expectation of policy support. The market has strong bottom - support forces, and the negative impact of the tariff war has a weak marginal effect, resulting in low short - term downward risks. However, due to the market's wait - and - see attitude, the short - term upward momentum of the stock index is also limited [4]. 3. Summary by Related Catalogs 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the IH2506 variety, the short - term view is range - bound, the mid - term view is upward, the intraday view is strong with a bias towards range - bound movement, and the overall view is range - bound. The core logic is that the expectation of policy benefits provides strong support [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The intraday view of IF, IH, IC, and IM is strong with a bias towards range - bound movement, the mid - term view is upward, and the reference view is range - bound. The core logic is that the market sentiment has returned to calm after the lack of further substantial progress in Sino - US economic and trade measures. The weak macro - economic indicators increase the expectation of policy support, and the market has strong bottom - support forces. The negative impact of the tariff war has a weak marginal effect, and the short - term downward risk is low. The market is waiting for policy guidance, and attention can be paid to the Lujiazui Forum on June 18. Due to the wait - and - see attitude, the short - term upward momentum of the stock index is limited [4].