Markets

China stock index futures close higher - March 7

(Xinhua)
Updated: 2011-03-07 16:42

BEIJING - China's stock index futures of different terms all closed sharply higher Monday with the contract for March, the most actively traded, up 1.87 percent from the previous trading day to end at 3,342.2.

The April contract rose 1.85 percent to close at 3,357 points. The June contract went up 1.86 percent to 3,399 points, and the September contract gained 1.73 percent to 3,440.

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.