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China Hushen 300 index futures close lower Friday

Xinhua, November 27, 2015 Adjust font size:

China's Hushen 300 index futures closed lower on Friday, with the contract for December down 4.98 percent to close at 3,487.4 points.

The January 2016 contract lost 5.12 percent to finish at 3,407 points and the March 2016 contract dipped 4.9 percent to end at 3,324.6 points. The June 2016 contract down 5.29 percent to end at 3,232 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