The price of stock index futures is mainly determined by the stock index. Because the stock index is affected by many factors, the price trend of stock index futures will also be affected by these factors. These factors include:

(1) Macroeconomic data, such as GDP, industrial index, inflation rate, etc.

(2) Macroeconomic policies, such as interest rate increase and exchange rate reform;

(3) Various information related to the constituent stock enterprises, such as the listing, additional issuance and dividends of the constituent stocks with greater weight;

(4) the trend of international financial markets, such as the price change of Dow Jones index of new york Stock Exchange and the price change of international crude oil futures market.

In addition, unlike stock indexes, stock index futures have an expiration date, so the price of stock index futures is also affected by the expiration time.