Markets

China stock index futures up -- May 21

(Xinhua)
Updated: 2010-05-21 16:37
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China's stock index futures closed up Friday with the contract for May up 0.51 percent to end at 2,749.8 points from the previous trading day.

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The June contract, the most actively traded, gained 1.44 percent to 2,801 points. The September contract was up 2.04 percent to 2,855, and the December contract ended 2.11 percent higher at 2,898.8.

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.