China stock index futures open higher

China stock index futures open higher

23Beijing, May 29 (IANS)┬áChina’s stock index futures opened higher Thursday with the contract for settlement in June, the most actively traded, opening 12.4 points higher at 2,175.4.

The contract for settlement in July went up 10 points to open at 2,163. The September contract opened 13 points higher at 2,170, and the December contract gained 10.8 points to open at 2,175, reported Xinhua.

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

The index futures were 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.

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