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China Hushen 300 index futures open lower Friday

Xinhua, April 22, 2016 Adjust font size:

China's key Hushen 300 index futures opened lower Friday, as the contract for settlement in May 2016 opened 1.13 percent lower at 3,102 points.

The June 2016 contract opened 1.24 percent lower at 3,056.4 points. The September 2016 contract opened 0.97 percent lower at 2,950 points. The December 2016 contract opened 0.66 percent lower at 2,879.4 points.

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