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China Hushen 300 index futures plunge by the daily limit Wednesday

Xinhua, July 8, 2015 Adjust font size:

China's key Hushen 300 index futures sank on Wednesday, with the contract for July, the most actively traded, plunging by the daily limit of 10 percent to close at 3,463.4 points.

The August, September and December contracts all tumbled by the daily limit of 10 percent, ending at 3,410.8 points, 3,412.2 points and 3,433 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 either gains or 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. Endi