Report Summary 1. Report Industry Investment Rating - No information provided on the industry investment rating. 2. Core View of the Report - The overall view of the stock index futures is wide - range fluctuation. In the short - term, it is expected to maintain wide - range fluctuation, with the intraday view being oscillating strongly, and the medium - term view being upward [1][5]. 3. Summary According to Relevant Catalogs 3.1 Variety View Reference - Financial Futures Stock Index Sector - For the IH2512 variety, the short - term view is oscillation, the medium - term view is upward, the intraday view is oscillating strongly, and the reference view is wide - range fluctuation. The core logic is the game between the short - term capital's profit - taking willingness and the medium - and long - term policy favorable expectations [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The varieties include IF, IH, IC, and IM. The intraday view is oscillating strongly, the medium - term view is upward, and the reference view is wide - range fluctuation. The core logic is that the stock indexes oscillated and rose yesterday. The total turnover of the Shanghai, Shenzhen, and Beijing stock markets was 1892.7 billion yuan, an increase of 141.4 billion yuan from the previous day. The inflation and credit data in September were weak, with the problem of insufficient effective domestic demand still existing, strengthening the expectation of policies to stabilize demand and providing medium - and long - term support for the stock index. The 20th Fourth Plenary Session was held from Monday to Wednesday this week, increasing the expectation of policy benefits. Coupled with the marginal mitigation of overseas tariff risks, market sentiment improved. The subsequent market trend depends on the rhythm change of the game between profit - taking sentiment and policy favorable expectations [5].