China stock index futures open higher Wednesday

China's stock index futures rebounded Wednesday from Tuesday's tumble with all of the four contracts opening higher from the previous trading day.

The contract for settlement in June, which is most actively traded, rose 33 points to open at 2,846.2.

The contract expiring in July rallied 29.2 points to open at 2,866.2.

The September contract opened at 2,898, up 22.6 points from the previous trading day.

The December contract gained 24 points to open at 2,951.2.

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 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.

Source: Xinhua