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China Hushen 300 index futures open lower Tuesday

Xinhua, July 28, 2015 Adjust font size:

China's key Hushen 300 index futures opened lower on Tuesday, with the contract for settlement in August, the most actively traded, down 36.8 points at 3,611.

The contract for settlement in September opened 8.6 points lower at 3,585.2. The December contract opened 12.8 points lower at 3,545. The contract for settlement in March 2016, opened 29.8 points lower at 3643.8.

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 and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.

The Hushen 300 Index samples about a fifth of the total stocks listed on the Shanghai and Shenzhen bourses. Endi