China stock index futures open higher Friday

China's stock index futures opened higher Friday with the contract for settlement in September, the most actively traded, adding 51 points to open at 2,933.

The October contract rose 52.2 points to open at 2,944.8, while the December contract opened at 2,976.2, up 50 points from the previous trading.

The contract for settlement in March 2011 went up 46.6 points to open at 3,003.

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