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China stock index futures open higher Tuesday

(Xinhua)

10:21, March 27, 2012

BEIJING, March 27 (Xinhua) -- China's stock index futures opened higher on Tuesday, with the contract for settlement in April, the most actively traded, up 10.8 points to open at 2,579.6 points.

The contract for settlement in May climbed 11.6 points to open at 2,592.4 points. The contract for settlement in June opened 7.4 points higher at 2,599.4 points.

The contract for settlement in September opened at 2,630.4 points, up 10.4 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 either gains or 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.

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