China stock index futures open lower Wednesday
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China's stock index futures opened lower Wednesday. The contract for settlement in November, the most actively traded, opened 21.8 points lower at 3,110.4.
The December contract opened 18.2 points lower at 3,138.8 while the contract for settlement in March 2011 opened at 3,185.8, down 18.8 points from the previous trading.
The contract for settlement in June 2011 opened at 3,236, down 24.4 points.
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.
