Biz News Flash

China stock index futures open lower Monday

(Xinhua)
Updated: 2011-05-23 11:17

BEIJING -- China's stock index futures opened lower Monday, with the contract for settlement in May, the most actively traded, opening 2.8 points lower at 3,119 from the previous close.

The June contract opened at 3,118, down 10.8 points from the previous close. The contract for settlement in September opened 9.2 points lower at 3,160.4 points.

The contract for settlement in December dropped 11.4 points at the opening to 3,204.2.

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 both gains and 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.