Markets

China stock index futures open lower - Aug 24

(Xinhua)
Updated: 2010-08-24 10:25

BEIJING - China's stock index futures were lower at their openings Tuesday with the contract for settlement in August, the most actively traded, down 0.37 percent to open at 2,898.6.

The September contract opened flat at 2,918.8, while the December contract opened at 2,942, down 0.11 percent from the previous trading.

The contract for settlement in March 2011 was down 0.15 percent to open at 2,977.8.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset value on an agreed date, are designed to allow investors to bet on and profit from both gains and declines in the market.

The index futures was launched at the China Financial Futures Exchange (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.