China stock index futures open lower Tuesday
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China's stock index futures opened lower Tuesday. The contract for settlement in January 2011, the most actively traded, opened 78.40 points or 2.45 percent lower at 3,118.6.
The February 2011 contract opened 77 points or 2.38 percent lower at 3,156 while the contract for settlement in March 2011 fell 75.4 points or 2.30 percent at the opening to 3,196.8.
The contract for settlement in June 2011 opened at 3,279, down 77.6 points or 2.31 percent.
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.
