China stock index futures open lower Friday
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China's stock index futures opened lower Friday. The contract for settlement in November, the most actively traded, opened 58.4 points lower at 3,488.
The December contract opened 84.8 points lower at 3,529, while the contract for settlement in March 2011 opened at 3,669, down 41.8 points from the previous trading.
The contract for settlement in June 2011 opened at 3,727.8, down 35.2 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 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.
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