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宝城期货股指期货早报(2025年9月30日)-20250930
Bao Cheng Qi Huo· 2025-09-30 02:01
投资咨询业务资格:证监许可【2011】1778 号 宝城期货股指期货早报(2025 年 9 月 30 日) ◼ 品种观点参考—金融期货股指板块 时间周期说明:短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2512 | 震荡 | 上涨 | 震荡偏弱 | 宽幅震荡 | 短期资金止盈意愿 VS 中长期政策 利好预期发酵 | 备注: 1.有夜盘的品种以夜盘收盘价为起始价格,无夜盘的品种以昨日收盘价为起始价格,当日日盘收盘 价为终点价格,计算涨跌幅度。 2.跌幅大于 1%为下跌,跌幅 0~1%为震荡偏弱,涨幅 0~1%为震荡偏强,涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点,短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—金融期货股指板块 品种:IF、IH、IC、IM 日内观点:震荡偏弱 中期观点:上涨 参考观点:宽幅震荡 核心逻辑:昨日各股指均震荡上涨。沪深京三市全天成交额 21781 亿元,较上日放量 120 亿元。消 息面,中共中央政治局 9 月 29 ...
宝城期货股指期货早报-20250929
Bao Cheng Qi Huo· 2025-09-29 03:07
投资咨询业务资格:证监许可【2011】1778 号 宝城期货股指期货早报(2025 年 9 月 29 日) ◼ 品种观点参考—金融期货股指板块 时间周期说明:短期为一周以内、中期为两周至一月 (仅供参考,不构成任何投资建议) | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2512 | 震荡 | 上涨 | 震荡偏弱 | 宽幅震荡 | 短期资金止盈意愿 VS 中长期政策 利好预期发酵 | 备注: 1.有夜盘的品种以夜盘收盘价为起始价格,无夜盘的品种以昨日收盘价为起始价格,当日日盘收盘 价为终点价格,计算涨跌幅度。 2.跌幅大于 1%为下跌,跌幅 0~1%为震荡偏弱,涨幅 0~1%为震荡偏强,涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点,短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—金融期货股指板块 品种:IF、IH、IC、IM 日内观点:震荡偏弱 中期观点:上涨 参考观点:宽幅震荡 核心逻辑:上周五各股指均震荡回调。沪深京三市全天成交额 21661 亿元,较上日缩量 2257 亿元。 ...
银河期货股指期货数据日报-20250924
Yin He Qi Huo· 2025-09-24 09:37
股指期货数据日报 2025年9月24日 IM每日行情 IM行情概要 IM成交持仓 单位:点、手、亿元 单位:手 | | 收盘价 | +/- | 成交量 | +/- | | 成交额 +/- | | 持仓量 | +/- | 持仓保证金 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 中证1000 | 7534.22 | 1.70% | 27,891 | | -11% | 4,944 | -2% | | | | | | IM2510 | 7472.00 | 3.06% | 68,987 | | -17% | 1,018 | -16% | 84,906 | -11,740 | | 152 | | IM2511 | 7384.40 | 3.13% | 8,349 | | 5 % | 122 | 7 % | 8,831 | 2,598 | | 1 6 | | IM2512 | 7303.20 | 3.21% | 185,454 | | -9% | 2,675 | -7% | 192,420 | -14,214 ...
宝城期货股指期货早报-20250911
Bao Cheng Qi Huo· 2025-09-11 01:51
Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core View of the Report - Short - term, the index futures are expected to be mainly in wide - range oscillations, while in the medium - term, they are expected to rise. The overall reference view is wide - range oscillations [1][5] Group 3: Summary by Related Catalogs 1. Variety View Reference - Financial Futures Index Sector - For IH2509, the short - term view is oscillation, the medium - term view is upward, the intraday view is weakly oscillating, and the overall view is wide - range oscillation. The core logic is that the medium - and long - term upward logic remains, but the short - term profit - taking intention of funds rises [1] 2. Main Variety Price Market Driving Logic - Financial Futures Index Sector - The intraday view for IF, IH, IC, and IM is weakly oscillating, the medium - term view is upward, and the reference view is wide - range oscillation. The core logic is that the stock market trading volume shrank, indicating market sentiment divergence and the need for market consolidation. Some stocks had large previous gains, leading to increased profit - taking demand and short - term technical adjustments. The latest inflation data is stable month - on - month but weak year - on - year, so there are still expectations of policy support. The margin trading balance keeps growing, and the trend of capital inflow into the stock market remains unchanged, which will continue to drive the index valuation repair [5]
宝城期货股指期货早报-20250905
Bao Cheng Qi Huo· 2025-09-05 01:00
Group 1: Report Industry Investment Rating - No relevant content Group 2: Core View of the Report - The short - term view of the stock index is wide - range oscillation, the medium - term view is upward, and the intraday view is weakly oscillating. The core logic is that the profit - taking demand of profitable funds has increased, leading to a short - term technical adjustment of the stock index, but in the long - term, policy support and loose capital will drive the stock index up [1][5] Group 3: Summary by Related Catalogs Variety View Reference - Financial Futures Stock Index Sector - For IH2509, the short - term view is oscillation, the medium - term view is upward, the intraday view is weakly oscillating, and the overall view is wide - range oscillation. The core logic is that the long - and medium - term upward logic still exists, but the short - term profit - taking willingness of funds has increased [1] Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The varieties include IF, IH, IC, IM. The intraday view is weakly oscillating, the medium - term view is upward, and the reference view is wide - range oscillation. Yesterday, the stock indexes oscillated weakly and fell sharply. The full - day trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 2581.9 billion yuan, an increase of 186.2 billion yuan from the previous day, and nearly 3000 stocks in the whole market fell. Some stocks have achieved large increases, so the profit - taking demand of profitable funds has risen, causing a short - term technical adjustment of the stock index, especially for the CSI 500 and CSI 1000 indexes. In the long - term, policy support and loose capital will drive the stock index up [5]
宝城期货股指期货早报-20250904
Bao Cheng Qi Huo· 2025-09-04 01:30
Report Summary 1. Report Industry Investment Rating No specific industry investment rating is provided in the report. 2. Core View of the Report - The short - term view for the stock index futures is wide - range oscillation, while the medium - term view is upward. The short - term oscillation is due to the weakening marginal effect of policy - positive expectations and the increasing profit - taking demand of profitable funds. In the long run, policy - positive expectations and loose capital contribute to the upward trend of the stock index [5]. 3. Summary by Related Catalogs 3.1 Variety View Reference - Financial Futures Stock Index Sector - For IH2509, the short - term outlook is oscillation, the medium - term outlook is upward, and the intraday outlook is weakly oscillating. The overall view is wide - range oscillation, with the core logic being that the long - term upward logic remains, but the short - term profit - taking willingness of funds is increasing [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - **Market Performance**: All stock indices oscillated and declined yesterday. The total trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 239.57 billion yuan, a decrease of 51.67 billion yuan from the previous day [5]. - **Short - term Logic**: Some stocks have achieved significant gains, leading to an increase in the profit - taking demand of profitable funds. The recent contraction in trading volume reflects market divergence, causing the stock index to enter a short - term technical adjustment [5]. - **Long - term Logic**: Policy - positive expectations and loose capital strongly support the stock index. Anti - involution and consumption - promotion policies optimize the supply - demand structure, promote the recovery of the price index and corporate profits. The rapid increase in margin trading balance, the surge in non - bank deposits, and the continuous entry of long - term funds drive the recovery of stock valuations [5].
宝城期货股指期货早报-20250903
Bao Cheng Qi Huo· 2025-09-03 00:57
| 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2509 | 震荡 | 上涨 | 震荡偏强 | 上涨 | 政策端利好预期构成较强支撑 | 备注: 1.有夜盘的品种以夜盘收盘价为起始价格,无夜盘的品种以昨日收盘价为起始价格,当日日盘收盘 价为终点价格,计算涨跌幅度。 2.跌幅大于 1%为下跌,跌幅 0~1%为震荡偏弱,涨幅 0~1%为震荡偏强,涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点,短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—金融期货股指板块 品种:IF、IH、IC、IM 投资咨询业务资格:证监许可【2011】1778 号 宝城期货股指期货早报(2025 年 9 月 3 日) ◼ 品种观点参考—金融期货股指板块 时间周期说明:短期为一周以内、中期为两周至一月 日内观点:震荡偏强 中期观点:上涨 参考观点:上涨 核心逻辑:昨日各股指走势有所分化,IH 与 IF 表现为震荡整理,IC 与 IM 指数表现为震荡下跌。沪 深京三市全天成交额 29124 亿元,较上日放量 1348 亿 ...
银河期货股指期货数据日报-20250902
Yin He Qi Huo· 2025-09-02 10:01
1. Report Title and Date - The report is titled "Stock Index Futures Data Daily Report", dated September 2, 2025 [1][2] 2. IM Futures 2.1 Daily Quotes - The CSI 1000 index closed at 7313.88, down 2.50%. The trading volume was 35,044 lots, and the trading value was 59.85 billion yuan. The main contract IM2509 closed at 7251.40, down 1.85%, with a trading volume of 218,061 lots and a trading value of 31.68 billion yuan. The open interest was 193,312 lots, an increase of 12,533 lots [3] 2.2 Summary - The main contract of IM fell 1.81%, closing at 7251.4 points. The total trading volume of the four contracts was 337,746 lots, an increase of 85,941 lots from the previous day. The total open interest was 401,271 lots, an increase of 26,043 lots. The main contract was at a discount of 62.48 points, an increase of 58.07 points from the previous day. The annualized basis rate was -17.47% [5] 2.3 Basis and Cost - The annualized roll - over cost and dividend impact are presented in the report, showing the relationship between different contracts [10][11] 2.4 Open Interest - The net short - position ratio and the positions of major seats in IM2509, IM2512, and IM2603 are detailed, including the trading volume, long - position, and short - position changes of top members [15][18][22] 3. IF Futures 3.1 Daily Quotes - The CSI 300 index closed at 4490.45, down 0.74%. The main contract IF2509 closed at 4481.20, down 0.69%, with a trading volume of 122,523 lots and a trading value of 16.51 billion yuan. The open interest was 146,527 lots, an increase of 8,725 lots [23] 3.2 Summary - The main contract of IF fell 0.69%, closing at 4481.2 points. The total trading volume of the four contracts was 195,366 lots, an increase of 51,069 lots from the previous day. The total open interest was 298,335 lots, an increase of 21,717 lots. The main contract was at a discount of 9.25 points, an increase of 3.86 points from the previous day. The annualized basis rate was -4.19% [23][24] 3.3 Basis and Cost - Similar to IM, the annualized roll - over cost and dividend impact of IF are also provided [28] 3.4 Open Interest - The net short - position ratio and the positions of major seats in IF2509, IF2512, and IF2603 are shown, including the trading volume, long - position, and short - position changes of top members [33][36][37] 4. IC Futures 4.1 Daily Quotes - The CSI 500 index closed at 6961.69, down 2.09%. The main contract IC2509 closed at 6896.20, down 1.83%, with a trading volume of 105,870 lots and a trading value of 14.66 billion yuan. The open interest was 124,446 lots, an increase of 11,825 lots [42] 4.2 Summary - The main contract of IC fell 1.83%, closing at 6896.2 points. The total trading volume of the four contracts was 172,836 lots, an increase of 46,175 lots from the previous day. The total open interest was 254,784 lots, an increase of 18,794 lots. The main contract was at a discount of 65.49 points, an increase of 30 points from the previous day. The annualized basis rate was -19.26% [42][43] 3.3 Basis and Cost - The annualized roll - over cost and dividend impact of IC are presented [49] 3.4 Open Interest - The net short - position ratio and the positions of major seats in IC2509, IC2512, and IC2603 are detailed, including the trading volume, long - position, and short - position changes of top members [53][56][57] 5. IH Futures 5.1 Daily Quotes - The SSE 50 index closed at 2992.88, up 0.39%. The main contract IH2509 closed at 2992.80, up 0.35%, with a trading volume of 53,059 lots and a trading value of 4.75 billion yuan. The open interest was 66,245 lots, an increase of 9,442 lots [61] 5.2 Summary - The main contract of IH rose 0.28%, closing at 2991.2 points. The total trading volume of the four contracts was 80,614 lots, an increase of 26,017 lots from the previous day. The total open interest was 109,749 lots, an increase of 12,783 lots. The main contract was at a discount of 1.68 points, an increase of 1.52 points from the previous day. The annualized basis rate was -0.45% [61][62] 5.3 Basis and Cost - The annualized roll - over cost and dividend impact of IH are provided [65] 5.4 Open Interest - The net short - position ratio and the positions of major seats in IH2509 and IH2512 are shown, including the trading volume, long - position, and short - position changes of top members [70][73][75]
宝城期货股指期货早报-20250828
Bao Cheng Qi Huo· 2025-08-28 01:03
Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core Viewpoints - For IH2509, the short - term view is oscillation, the medium - term view is upward, the intraday view is oscillation with a slight upward trend, and the overall view is upward, supported by positive policy expectations [1]. - For IF, IH, IC, and IM, the intraday view is oscillation with a slight upward trend, the medium - term view is upward, and the overall view is upward. Although the stock market had a technical adjustment yesterday due to profit - taking of some funds, the previous rebound was supported by policy - side positive expectations and loose liquidity in the capital market. However, as the stock index has risen continuously, the valuation has reached a relatively high historical quantile level, and the short - term profit - taking willingness of funds has increased. In general, the stock index will mainly oscillate and consolidate in the short term [5]. 3. Summary by Relevant Catalogs 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector - **IH2509**: Short - term (within a week) is oscillation, medium - term (two weeks to one month) is upward, intraday is oscillation with a slight upward trend, and the overall view is upward. The core logic is that positive policy expectations provide strong support [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - **IF, IH, IC, IM**: Yesterday, the stock indexes oscillated and declined. The total turnover of the Shanghai, Shenzhen, and Beijing stock markets was 3197.8 billion yuan, an increase of 488 billion yuan compared with the previous day. The afternoon decline was due to the profit - taking of some stocks that had risen significantly. The previous rebound was supported by policy - side positive expectations and loose capital liquidity. Anti - involution and consumption - promotion policies optimize the supply - demand structure, promote the gentle recovery of price indexes, and drive a positive cycle. The capital market has loose liquidity, and the willingness to allocate funds to the stock market has increased. However, the valuation has reached a relatively high historical quantile level, and the short - term profit - taking willingness of funds has increased. In the short term, the stock index will mainly oscillate and consolidate [5].
银河期货股指期货数据日报-20250827
Yin He Qi Huo· 2025-08-27 15:10
1. Report Title and Date - Report title: "Stock Index Futures Data Daily Report" [1] - Date: August 27, 2025 [2] 2. IM (CSI 1000 Index Futures) 2.1 Daily Quotes - The CSI 1000 index closed at 7336.50, down 1.87%. The total trading volume was 41,676 lots, up 15%, and the turnover was 67.28 billion yuan, up 17% [3]. - The IM2509 contract (the main contract) closed at 7287.20, down 2.22%. The trading volume was 213,890 lots, up 34%, and the turnover was 31.77 billion yuan, up 33%. The open interest was 202,540 lots, an increase of 6,736 lots [3]. 2.2 Summary - The main contract of IM decreased by 2.22% to close at 7287.2 points. The total trading volume of the four contracts was 333,544 lots, an increase of 92,377 lots compared with the previous day; the total open interest was 397,971 lots, an increase of 17,455 lots [4]. - The main contract of IM was at a discount of 49.3 points, an increase of 11.77 points compared with the previous day; the annualized basis rate was -10.29% [4]. 2.3 Basis and Other Data - The dividend impacts of the four IM contracts were 1.46 points, 3.21 points, 4.35 points, and 6.8 points respectively [4]. - Details of basis, expiration date, remaining days, etc. for each contract are provided in the report [14]. 2.4 Main Seats' Positions - Data on the trading volume, long positions, and short positions of the top members for each contract (IM2509, IM2512, IM2603) are presented, including changes compared with the previous day [18][20][22]. 3. IF (CSI 300 Index Futures) 3.1 Daily Quotes - The CSI 300 index closed at 4386.13, down 1.49%. The total trading volume was 333,130 lots, up 23%, and the turnover was 78.51 billion yuan, up 25% [23]. - The IF2509 contract (the main contract) closed at 4384.00, down 1.71%. The trading volume was 113,283 lots, up 30%, and the turnover was 15.12 billion yuan, up 30%. The open interest was 155,760 lots, an increase of 4,042 lots [23]. 3.2 Summary - The main contract of IF decreased by 1.77% to close at 4384 points. The total trading volume of the four contracts was 176,860 lots, an increase of 43,644 lots compared with the previous day; the total open interest was 286,101 lots, an increase of 13,045 lots [24]. - The main contract of IF was at a discount of 2.13 points, an increase of 1.46 points compared with the previous day; the annualized basis rate was -0.74% [24]. 3.3 Basis and Other Data - The dividend impacts of the four IF contracts were 3.97 points, 7.71 points, 8.39 points, and 11.29 points respectively [24]. - Details of basis, expiration date, remaining days, etc. for each contract are provided in the report [33]. 3.4 Main Seats' Positions - Data on the trading volume, long positions, and short positions of the top members for each contract (IF2509, IF2512, IF2603) are presented, including changes compared with the previous day [37][38][40]. 4. IC (CSI 500 Index Futures) 4.1 Daily Quotes - The CSI 500 index closed at 6862.56, down 1.46%. The total trading volume was 32,806 lots, up 17%, and the turnover was 58.39 billion yuan, up 19% [42]. - The IC2509 contract (the main contract) closed at 6837.80, down 1.76%. The trading volume was 109,151 lots, up 44%, and the turnover was 15.19 billion yuan, up 45%. The open interest was 130,217 lots, an increase of 12,748 lots [42]. 4.2 Summary - The main contract of IC decreased by 1.76% to close at 6837.8 points. The total trading volume of the four contracts was 176,441 lots, an increase of 57,059 lots compared with the previous day; the total open interest was 253,897 lots, an increase of 24,398 lots [43]. - The main contract of IC was at a discount of 24.76 points, an increase of 22.91 points compared with the previous day; the annualized basis rate was -5.51% [43]. 4.3 Basis and Other Data - The dividend impacts of the four IC contracts were 1.3 points, 5.09 points, 7.73 points, and 11.39 points respectively [43]. - Details of basis, expiration date, remaining days, etc. for each contract are provided in the report [50]. 4.4 Main Seats' Positions - Data on the trading volume, long positions, and short positions of the top members for each contract (IC2509, IC2512, IC2603) are presented, including changes compared with the previous day [55][56][58]. 5. IH (SSE 50 Index Futures) 5.1 Daily Quotes - The SSE 50 index closed at 2918.38, down 1.73%. The total trading volume was 7,101 lots, up 30%, and the turnover was 19.77 billion yuan, up 32% [60]. - The IH2509 contract (the main contract) closed at 2918.20, down 1.81%. The trading volume was 51,558 lots, up 24%, and the turnover was 4.57 billion yuan, up 23%. The open interest was 69,611 lots, a decrease of 955 lots [60]. 5.2 Summary - The main contract of IH decreased by 1.81% to close at 2918.2 points. The total trading volume of the four contracts was 77,499 lots, an increase of 16,891 lots compared with the previous day; the total open interest was 112,063 lots, an increase of 3,677 lots [60]. - The main contract of IH was at a discount of 0.18 points, a decrease of 2.4 points compared with the previous day; the annualized basis rate was -0.04% [61]. 5.3 Basis and Other Data - The dividend impacts of the four IH contracts were 3.74 points, 7.71 points, 8.22 points, and 9.44 points respectively [61]. - Details of basis, expiration date, remaining days, etc. for each contract are provided in the report [69]. 5.4 Main Seats' Positions - Data on the trading volume, long positions, and short positions of the top members for each contract (IH2509, IH2512) are presented, including changes compared with the previous day [73][75].