China stock index futures close lower - Oct 29

BEIJING -- China's stock index futures closed lower Monday with the contract for November, the most actively traded, down 0.54 percent from the previous trading day to 2,244 points.

The December contract lost 0.55 percent to close at 2,257 points. The March 2013 contract declined 0.57 percent to 2,297 points, while the June 2013 contract dropped 0.56 percent to finish at 2,326 points.

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 and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.