投资咨询业务资格: 证监许可【2011】1292号 2025年12月2日 产品用货号 | 板块 | 品种 | 主力合约 | 点评 | 欢迎关注微信公众号 操作建议 | | --- | --- | --- | --- | --- | | | | IF2512 | | 临近12月美联储议息会议,美元指数近期见顶回 落,继续降息仍是大概率情景,A股主要指数亦有 | | | | IH2512 | | 反弹,但量能尚不支持突破。短期可轻仓卖出12 | | | 股指 | IC2512 | 顺周期表现强势,股指全线上涨 | 月看跌期权。波动率仍处于低位,盘面尚未显现对 | | | | IM2512 | | 12月政策会议的预期定价,逢回调亦可分阶段缓 | | | | | | 慢建仓牛市价差,布局春季行情。 | | | | | | 短期,可能打破债市震荡的增量信息将落地,今日 关注11月初公布的央行10月买债规模,如果出现 | | | | T2603 TF2603 | | 超预期利多期债可能有波段反弹,反之难摆脱震荡 | | 金融 | 国债 | TS2603 | 资金转松,期债略有反弹 | 。单边策略上建议减少左侧操作,等待 ...

Report Industry Investment Rating - No relevant information provided Core View of the Report - On November 27, the main contracts of stock index futures opened slightly higher, then冲高遇阻回落 and showed a relatively strong oscillation. The year-on-year growth of industrial enterprise profits from January to October will help the short-term rebound of stock index futures [2]. Summary by Related Catalogs Market Outlook Points - On November 27, the main contracts IF2512, IH2512, IC2512, and IM2512 of stock index futures opened slightly higher, then冲高遇阻回落 and showed a relatively strong oscillation. The year-on-year growth of industrial enterprise profits from January to October will help the short-term rebound of stock index futures. It is expected that IF2512, IH2512, IC2512, and IM2512 will all show a relatively strong oscillation during the day, with specific resistance and support levels provided [2][3]. Macroeconomic and Stock Market News - From January to October, the total profit of large-scale industrial enterprises nationwide reached 5950.29 billion yuan, a year-on-year increase of 1.9%, with the cumulative growth rate remaining positive for three consecutive months since August. In October, the profit of large-scale industrial enterprises decreased by 5.5% year-on-year [4]. - On November 27, the State Council Information Office released the white paper "China's Arms Control, Disarmament and Non-Proliferation in the New Era" [4]. - On November 27, the State Council held a regular policy briefing to introduce measures to enhance the adaptability of consumer goods supply and demand and further promote consumption. The Ministry of Commerce will promote pilot reforms in automobile circulation and consumption, expand the circulation of second-hand cars, and expand the entire chain of automobile consumption [4]. - The Fed's Beige Book shows that economic activity has remained basically flat in most of the 12 Fed districts, with 2 districts reporting a slight decline and 1 district reporting a slight increase. The overall outlook remains largely unchanged, with some pointing out an increased risk of economic slowdown in the coming months [5]. - On November 27, the stock market opened higher and continued to rebound. The ChiNext Index rose more than 2% during the session. Technology stocks were in the spotlight, with the CPO concept rotating between high and low levels. Solid-state battery and consumer electronics concepts were active, while real estate stocks fluctuated significantly. As of the midday close, the Shanghai Composite Index rose 0.49%, the Shenzhen Component Index rose 0.38%, the ChiNext Index rose 0.56%, and the half-day trading volume of A-shares reached 1.1 trillion yuan [7]. Technical Analysis and Market Outlook - Through macro - fundamental and technical analysis, it is expected that the main contracts of stock index futures will show a relatively strong oscillation during the day. The specific resistance and support levels for IF2512, IH2512, IC2512, and IM2512 are provided. It is also expected that the main contracts of IF, IH, IC, and IM in November 2025 will likely show a weak and wide - range oscillation, with corresponding support and resistance levels given [8][9][10].