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China Hushen 300 index futures surge on Friday

Xinhua, August 28, 2015 Adjust font size:

China's Hushen 300 index futures surged on Friday, with the contract for September, the most actively traded, up 7.51 percent to close at 3,188.4 points.

The October contract gained 6.74 percent to close at 3,102.6 and the December contract advanced 7.31 percent to 3034. The March 2016 contract added 7.48 percent to 3,017.

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