20250625-华鑫期货-每日晨报_5页_525kb

Summary of Huaxin Futures June 25, 2025 Daily Market Report

Key Events and Market Overview:

• Macroeconomic Updates: China commemorates the 80th anniversary of victory in the Anti-Fascist War with a parade featuring advanced military equipment, including unmanned systems. Globally, Israel and Iran announce a full ceasefire, supported by U.S. mediation, easing some geopolitical tensions.
• Market Performance: A-shares rebounded strongly, with the Shanghai Composite recapturing 3400 points due to gains in tech and auto-related stocks, while energy and shipping stocks declined. Hong Kong stocks rose, with the Hang Seng Index climbing amid net foreign investment. U.S. markets closed higher following the ceasefire news, driven by reduced oil prices and rising tech stocks, alongside declining yields on U.S. Treasury bonds.
• Commodity Futures: Crude oil prices fell sharply amid concerns over supply stability; metals like copper and zinc saw mixed results, with copper struggling to follow global markets. Iron ore and steel prices weakened due to lower crude demand and reduced steel output. Agricultural commodities like soybeans and palm oil faced pressure from high inventories, with oil prices influencing their trend.

Key Insights and Recommendations:

• The easing of geopolitical risks boosted risk appetite, supporting growth stocks. Focus on financial and tech sectors; consider IH+IM index combinations for hedging strategies. Overall markets showed resilience but remain sensitive to inflation and policy uncertainty.