The subject matter of stock index futures trading is the Shanghai and Shenzhen 300 Index, which does not directly buy or sell constituent stocks, that is, does not buy or sell stocks. Why can it affect the market index? First of all, it is wrong to say that stock index futures will control the operation of the market index, but it is normal that the two will affect each other.

The process of stock index futures affecting market index is:

1. If there are a large number of empty orders in stock index futures, stock index futures will be shot down a lot, which is much lower than the market at that time.

2. At this time, a group of arbitrageurs will appear soon. They sell their Shanghai and Shenzhen 300 stocks, or sell them by short selling, and then buy multiple stock index futures, which is equivalent to holding Shanghai and Shenzhen 300 stocks at a cheaper price.

3. The arbitrageurs selling the Shanghai and Shenzhen 300 stocks certainly affected the operation of the market index.

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