China stock index futures open lower Wednesday
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China's stock index futures opened lower Wednesday. The contract for settlement in February 2011, the most actively traded, opened 1.6 points lower at 3,214.4.
The March 2011 contract opened 4 points lower at 3,238 and the contract for settlement in June 2011 retreated 0.2 points at the opening to 3,310.
The contract for settlement in September 2011 opened at 3,350.2, down9.4 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.
