China stock index futures open lower Friday
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China's stock index futures were lower at their openings Friday with the contract for settlement in August, the most actively traded, down 6.6 points to open at 2959.8.
The September contract opened lower at 2,971.2, down 13 points from the previous trading while the December contract opened 11.6 points lower at 3016.2.
The contract for settlement in March 2011 was down 12.6 points to open at 3,049.8.
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 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.
