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China stock index futures open lower Wednesday

(Xinhua)

08:29, October 25, 2012

BEIJING, Oct. 24 (Xinhua) -- China's stock index futures opened lower Wednesday, with the contract for settlement in November, the most actively traded, down 10.8 points to open at 2,318.

The contract for settlement in December slid 10 points to open at 2,332, while the contract for settlement in March 2013 opened at 2,370.2, down 13.6 points. The contract for settlement in June 2013 fell 11.4 points to open at 2,402.

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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