Markets

China stock index futures close up -- June 24

(Xinhua)
Updated: 2011-06-24 16:54

BEIJING -- China's stock index futures closed higher on Friday with the contract for July, the most actively traded, up 2.89 percent, or 85.4 points, from the previous day to 3,039.8.

The August contract closed at 3,048.6 points, up 82.6 points, or 2.78 percent. The September contract closed up 87.4 points, or 2.94 percent, at 3,062.8 points and the December contract was up 84.4 points, or 2.79 percent to 3,109.6 points.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset 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.