China stock index futures close higher - May 29

BEIJING - China's stock index futures closed higher Tuesday as investors turned optimistic that policymakers will adopt more stimulus measures to stabilize growth in the country.

The contract for June, the most actively traded, surged 1.93 percent from the previous trading day to 2,645 points.

The July contract gained 1.9 percent to close at 2,641.4points. The September contract increased 1.84 percent to 2,648.8 points, while the December contract went up 1.62 percent to finish at 2,669.8 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 both gains and 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.